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151 River Street Elk Rapids, MI $ 1,224,000
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$ 1,224,000 Get more info
151 River Street
$ 1,224,000
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151 River Street

Elk Rapids, MI, 49629
$ 1,224,000
Bedrooms-- Baths2.0 Sq 5,580

Monthly Estimate*

$ 7,536

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Commercial Property for sale in Elk Rapids, MI

for $1,224,000 with 2 full baths. This 5,580 square foot building was built in 1925 on a lot size of 0.18.

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.

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Commercial Active

Price

$ 1,224,000

Full Bath

2

Property Type

Commercial

Taxes

$ 0

Style

Lot Size

0.18

Year Built

1925

Town/City

Elk Rapids

County/Region

Antrim

MLS | Web ID

1939910
Features
General
Sewer Public Sewer
Heating Forced Air Natural Gas
Cooling Central Air
Possession Close Of Escrow
Roof Membrane
Security Features Security System Fire Sprinkler System
Construction Materials Brick
Year Built 1925
Township Elk Rapids
Property Subtype Hospitality
Business Type Food & Beverage
Accessibility Accessible Doors Accessible Hallway(s) Main Floor Access Accessible Entrance
Assoc Fee Paid Per Annually
Business Name N/A
County Antrim
New Construction N
Property Type Commercial Sale
Attached Garage N
Subdivision Name N/A
Garage Y/N N
Building Features Other
Rent Includes None
Status Active
Directions West on River St from US-31 S property will be on your left.
City Elk Rapids
Zoning Description Commercial Restaurant/Food
Lot Size Units Acres
Lot Size Square Feet 7840.8
Carport Y/N N
Home Warranty Y/N N
Lease Renewal Y/N N
Lease Considered Y/N N
Living Area Units Square Feet
Standard Status Active
Tax Assessed Value 479336
Ownership Type Private Owner
Lease Amount Frequency Annually
Legal Description partial from tax ID: LOT 9 PLAT OF THE VILL OF ELK RAPIDS
Year Built Effective 2023
Freehold IDX
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Interior
Basement Partial
Furnished Y/N Furniture/Fixtures
Basement (Y/N) N
Air Conditioning Y/N Y
Heating Y/N Y
Fireplace Y/N N
Below Grade Finished Area Unit Type Square Feet
Above Grade Finished Area Unit Type Square Feet
Total Baths 2
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Exterior
Parking Features Paved On Street
Lot Features Corner Lot Freestanding
Water Source Public
Lot Size Area 0.18
Spa N
Lot Dimensions ~67'x114'
Lot Size Acres 0.18
Other Parking Paved Street Parking
Waterfront Y/N N
Road Responsibility Public Maintained Road
Horse Y/N N
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* Excluded Features
List By
Coldwell Banker Schmidt Traver

Broker

Cell: 231-499-0529

Contact

Affordability Calculator

$7,536
Per Month
100%
0%
0%
Monthly Principal & Interest
$7,536
Monthly Property Taxes
--
Monthly Home Insurance
--
Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.
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Nearby
2034270 Elementary School
2034440 Middle School
Unknown High School High School
See complete school information
Pricing History
DatePricePrice ChangeDescription
1/7/2026$1,224,000 -2.00% Price Down
10/24/2025$1,249,000 Listed Price

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151 River Street, Elk Rapids, MI, 49629 is a Commercial Property for sale at $1,224,000 with 5,580 sqft and a lot size of 0.18. 151 River Street has 2.0 baths and was built in 1925. The property's zip code is 49629 which is in Elk Rapids, MI

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