144 River St 2,953 SF Retail Building Elk Rapids, MI 49629 $549,000 ($185.91/SF)

Located in the heart of downtown Elk Rapids, this mixed-use property offers nearly 2,953 square feet of flexible space within a historic building that combines character and functionality. Listed at $549,000, the property currently features a versatile commercial storefront occupied by a tenant with the option to renew, along with a charming garden-level studio apartment generating income on a month-to-month lease. The lower level offers valuable storage, contributing to the property’s adaptability for owner-users, investors, or entrepreneurs.
Zoned B2, the property allows a broad mix of uses including retail, professional services, and short-term residential rentals, providing significant revenue-generating potential under one roof. Architectural details highlight its century-old heritage while complementing its prime downtown location—a thriving waterfront community known for its boutique shops, dining, and direct access to Grand Traverse Bay. These elements create a rare opportunity to own an income-producing asset in one of Northern Michigan’s most desirable markets.