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201 River Street, Elk Rapids, MI 49629

$749,000
Commercial Property MLS# 1814842 ID: 41004313
$749,000 Get Rates

Commercial - Elk Rapids, MI
Beautifully restored historic brick building on a corner lot in downtown Elk Rapids, mostly leased, showing good income. Property also has the best vacant parcel in downtown Elk Rapids. Room to expand. Front offices have a beautiful view of the Elk Rapids marina & E Grand Traverse Bay. Suitable for a variety of commercial uses: medical, office, retail, etc. The northernmost 2nd floor 1,500 sq ft unit is currently vacant. 850 sq ft upstairs tenant Manning Tax Service/Harry Dickson leases for $1,250/m. 4,300 sq ft main floor tenant Harbor Antiques leases for $4,500/m. 780 sq ft main floor tenant Edward Jones leases for $1,200/m. All 3 tenants are on a m to m basis. Edward Jones is moving upstairs sometime yet this year. The plan is they are going to pay for the remodeling they want done then they'll sign a 5 year lease at $2,000/m in year 1 then $2,050 in year 2 then $2,100 in year 3 and so on. Appraised in 2012 for $780,000.

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Location Information near 201 River Street
Offered by Stireman Team at Coldwell Banker Schmidt REALTORS - Traverse City-402

Would you like more information regarding this property?
Please call (231) 922-2350.

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Property Features for 201 River Street
Status
Market Status
Available
Last Updated
September 16, 2017
Description
Property Type
Commercial Property
Year Built
1924
Approx. Lot Size
0.18 Acres
Sq. Feet
8,355

Listing Features

  • Property Type: Commercial; Commercial
  • Stireman Team
  • Coldwell Banker Schmidt REALTORS - Traverse City-402

Data Provided by:
Coldwell Banker Schmidt REALTORS

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More information about this $749,000 Commercial Property at 201 River Street

This $749,000 Commercial Property at 201 River Street in Elk Rapids, MI is presented by Stireman Team. This $749,000 Commercial Property, located in the 49629 zip code, has the following property features: Property Type. This 201 River Street Commercial Property, located in Antrim County , is listed under MLS listing number 1814842 and has a listing price of $749,000. You can find more ELK RAPIDS homes for sale here.