Active
501 W Mitchell Street
Petoskey MI, 49770
$780,000
$120.99 per sqft
Active
6,447 sqft
Commercial
Built in 1937
6,447 square foot, 4-unit commercial building for sale at 501 and 515 W Mitchell (US 31), Petoskey, MI! Smart investment opportunity with all 4 units currently under active lease agreements. This building is in high demand for businesses as it offers a great location for customer visibility and accessibility, plus beautiful peaks of Little Traverse Bay from several offices. Estimated daily traffic count of over 25,000 along this section of W Mitchell. Ample and accessible parking for all units totaling 21 parking spots. Several recent improvements including roofing on half of the building, a new A/C and furnace, and areas of fresh concrete. The first floor houses 3 units and the 4th unit is on the upper level. Unit 1, at 1,840 sq ft is the largest. It is a mostly open floor plan with 1 private office and storage room. Unit 2 is 1,660 sq ft. It was originally designed as a medical office and currently still has a reception area, 3 offices, 3 exam rooms, and a break room. Unit 3's 1,320 sq ft is a fairly open floor plan with a storage room. The 2nd story Unit 4 is 1,670 sq ft with 6 private rooms for versatile office space. Located across the street from McLaren Northern MI hospital and in close proximity to many other highly distinguished businesses. Just a half mile to the Downtown Petoskey Gaslight District.
475243
MLSⓇ ID
October 25, 2024
Listed
February 20, 2025
Updated
Interior Features
Total Stories
2
Fireplace
No
Cooling
No
Heating
Yes
Heating Description
Heat Pump, Natural Gas
Exterior/Building Features
Lot Size
0.44 Acres
Sewer
Public Sewer
School Information
School District
Petoskey
Other Property Details
Area Name
Petoskey City
Days on Market
70
Garage
No
View
No
County
Emmet
Municipality
Petoskey City
Water Source
Public
Zoning
COP B-3
Listed by Carrie M Frisbie with Coldwell Banker Schmidt- Harbor Springs
Listing Contact: 231-268-9367
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