116 E Philips Street Lake Leelanau, MI ^$ 699,000

116 E Philips Street

^$ 699,000

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116 E Philips Street

Lake Leelanau, MI, 49653

^$ 699,000

Bedrooms-- Baths-- Sq 2,740

Monthly Estimate*

^$ 4,414

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Commercial Property for sale in Lake Leelanau, MI

for $699,000. This 2,740 square foot building was built in 1970 on a lot size of 0.47.

Lake Leelanau Village: Charming single story building with multiple tenants. Great visibility, great access, great parking! C1 Zoning (the best). Here is an opportunity to own a sweet income property in Leelanau County and even make future expansion plans. Subject to tenant's rights. Land division recently approved by road commission, MDOT and Leland Twp. (see associated documents). Creativity wins here. All listing information is deemed reliable, but not guaranteed and has been obtained from seller and/or third-party sources. Buyer and its agent to verify all details. For adjacent vacant parcel (009-024-041-00) see listing number 1949877

Commercial Active

Price

^$ 699,000

Property Type

Commercial

Taxes

^$ 0

Style

Business

Lot Size

0.47

Year Built

1970

Town/City

Lake Leelanau

County/Region

Leelanau

MLS | Web ID

80072905

Features

General

Heating Forced Air

Cooling Other

Possession Subject To Tenant Rights

Water Private Well

Status Active Active

Year Built 1970

Parking Parking Lot

Subdivision n/a MI

County Leelanau

Class COM/IND/BUS OPP

Type Business

Business Name n/a

Ownership Private

Municipality Suttons Bay Twp

Section 24

Zoning Commercial

Sale/Rent For Sale

Status Detail 0

Area Suttons Bay Twp (45011)

Primary City Lake Leelanau

Location Corner Lot

Directions At corner of M204 and S Lake Leelanau Dr (641) in village of Lake Leelanau.

City Lake Leelanau

Financial Terms Cash Commercial Loan Conventional Exchange/Trade

Legal Description See new 2026 survey attached herein. To be verified by title company. Agent has no opinion of title.

DOM 1

Postal Code 49653

Price Per Sq Ft Total AG 255.11

Public Remarks Lake Leelanau Village: Charming single story building with multiple tenants. Great visibility great access

Exterior

Exterior Block Frame

Lot Size Area 0.47

Lot Dimensions See new survey attached

Interior

Fuel Type Natural Gas

* Excluded Features

List By

Thomas Alflen

Listing Agent

Exit Northern Shores-Tc

Broker

tom@leelanaulegacy.com

Affordability Calculator

$4,414

Per Month

Monthly Principal & Interest: $4,414
Monthly Property Taxes: --
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.49% 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

Trends
Schools

Commerical listings in Lake Leelanau, MI

Average List Price ^$831,800

Percent of Sale Price 19%

About Lake Leelanau, MI

215 Population

11% Since 2002

^$59,004 Median Income

50.27 Median Age

24% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

760529 Elementary School

760235 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
8/27/2026	$699,000		Listed Price

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116 E Philips Street, Lake Leelanau, MI, 49653 is a Commercial Property for sale at $699,000 with 2,740 sqft and a lot size of 0.47. 116 E Philips Street was built in 1970. The property's zip code is 49653 which is in Lake Leelanau, MI

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.49% 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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116 E Philips Street

Commercial Property for sale in Lake Leelanau, MI

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