525 W Mitchell St
Office | 6.00% CAP | 22,405 SqFt
Marketing description
A Rare Investment Opportunity in the Heart of Petoskey, Michigan. Across the street from a regional hospital, walkable to downtown restaurants, waterfront, and more. Your dream investment opportunity starts here. It's a place to live with your family, while managing on-site rentals; employee housing, with income from a commercial business/office space. Property could be converted to a boutique hotel. It includes a house for additional income, or make it your own residence for when you spend time in Northern Michigan.
This unique/versatile commercially zoned property across from a regional hospital in Petoskey, zoned B3 with approximately 10,580 sq ft. of rental opportunity, includes: House w/ back yard, 2B, 2B & 1 Garage, 16 micro rental units w/ bath, 2 large commercial spaces for office/retail. Basement storage, clean & dry. security system, city water & sewer, wi-fi available. Off street parking for approx. 16 cars, and commercial laundry room. Recent capital expenditures: $90K roof, new windows, vanity & sinks in small units.
Investment highlights
- A Rare Investment Opportunity in the Heart of Petoskey, Michigan
- Across the street from a regional hospital, walkable to downtown restaurants, waterfront, and more
- Property could be converted to a boutique hotel
- Includes a house for additional income, or make it your own residence
- House w/ back yard, 2B, 2B & 1 Garage
- 16 micro rental units w/ bath
- 2 large commercial spaces for office/retail
- Basement storage, clean & dry
- Security system, city water & sewer, wi-fi available
- Off street parking for approx. 16 cars
- Commercial laundry room
- Recent capital expenditures: $90K roof, new windows, vanity & sinks in small units
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