151 River St - Restaurant FOR SALE


Elk Rapids, MI 49629
$1,174,000 USD
231-929-2300
151 River St, Elk Rapids, MI for Sale
$1,174,000 USD
Restaurant - FOR SALE
1/54
null | Request Cap Rate

151 River St
Elk Rapids, MI 49629


HIGHLIGHTS

  • Fully remodeled 5,580 SF single-tenant restaurant property in the heart of Downtown Elk Rapids.
  • Features a high-end commercial kitchen with quality interior finishes and modern equipment.
  • Includes inviting outdoor patio seating for approximately 40 guests, complementing ample indoor dining and bar space for 100+ patrons.
  • Excellent visibility along River Street, the town's primary commercial corridor with strong pedestrian traffic.
  • Turn-key opportunity ideal for owner-operators or investors; FF&E and liquor license available for negotiation.
  • Turn-key opportunity ideal for owner-operators or investors; FF&E and liquor license available for negotiation.

OVERVIEW

Prime 5,580 SF single-tenant restaurant building located in the heart of Downtown Elk Rapids. This recently remodeled property features a high-end commercial kitchen, quality interior finishes, and a welcoming outdoor patio area. The inside can accommodate ~100+ guests between dining room and bar seating, and a beautiful patio out front features seating for about 40 more. Positioned along River Street, the town’s main commercial corridor, it offers excellent visibility and foot traffic. The layout supports full-service dining with an efficient back-of-house design, making it ideal for an owner/operator or investor seeking a premium hospitality property. Street parking is available directly in front, with additional public parking nearby. FF&E and liquor license are available and may be negotiated separately. This is a rare opportunity to acquire a fully equipped, turn-key restaurant property with outdoor dining in one of Northern Michigan’s most desirable downtown markets. Also available for lease at $14.75/SF NNN.

FOR SALE DETAILS

PRICE

$1,174,000 USD

PRICE/SF

$210 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY NAME

Turn Key Restaurant in Downtown Elk Rapids

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Restaurant

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1925

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,597 SF

ZONING

Commercial

APN/PARCEL ID

05-43-010-017-00

ASK ABOUT THIS PROPERTY

Alex MacKenzieColdwell Banker Schmidt RealtorsMore Info
231-929-2300

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Alex MacKenzieColdwell Banker Schmidt RealtorsMore Info
231-929-2300

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.