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501 W Mitchell St
Petoskey, MI 49770
The Reserve at Petoskey · Retail Property For Sale
Investment Highlights
- The Heart of Petoskey, MI - Nearly 1 MILLION Visitors Annually from Across the United States and the World www.petoskeyarea.com
- Excellent Access & Parking – Easy ingress/egress with on-site parking; minutes from downtown, major retailers, and area amenities
- Upside in Rent Appreciation and Converting Leases from Gross to NNN
- Prime Visibility & Location – Frontage along W Mitchell St (US-31), Petoskey’s main commercial corridor with strong daily traffic counts
- New Roof Unit 1 and 2 ($34,000) and Parking Lot Seal and Stripe 2024 Unit 3 and 4 Roof was Replaced in 2013 Concrete Replacement 2023
- Brand New Regional Lease – New 5-year lease with Cottage Inn Pizza, a trusted regional franchise with decades of brand recognition
Property Facts
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
7,100 SF
Building Class
C
Year Built
1970
Tenancy
Multiple
Building Height
2 Stories
Building FAR
0.33
Lot Size
0.50 AC
Zoning
Commercial B-3 - COP B-3
Parking
15 Spaces (2.58 Spaces per 1,000 SF Leased)
Frontage
Amenities
- 24 Hour Access
- Banking
- Conferencing Facility
- Freeway Visibility
- Signage
- Signalized Intersection
- Tenant Controlled HVAC
- Wheelchair Accessible
- Storage Space
- Air Conditioning
- Balcony
- Smoke Detector
Property Taxes
| Parcel Numbers | Improvements Assessment | $546,200 | |
| Land Assessment | $0 | Total Assessment | $546,200 |
Property Taxes
Parcel Numbers
Land Assessment
$0
Improvements Assessment
$546,200
Total Assessment
$546,200
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