319 W Mitchell St Petoskey, MI 49770
Estimated payment $2,282/month
Highlights
- Water Views
- Forced Air Heating System
- 2-minute walk to Bear River Recreation Area
- Wood Frame Window
About This Home
Located in the heart of Petoskey, this mixed-use property offers a rare investment opportunity just steps from downtown shopping, restaurants, waterfront parks, and McLaren Hospital. The property includes a duplex and 3 commercial spaces. The duplex has two 2-bedroom, 1-bath apartments with a year-round water view from the upper unit. Zoning allows the upper unit to be used as a vacation rental, which adds to the property’s versatility and potential. The Three commercial spaces provide excellent visibility and exposure along a high-traffic road, ideal for retail, office, or service-based businesses. With flexible zoning, strong income potential, and an unbeatable location in one of Northern Michigan’s most vibrant communities, this property is perfect for investors or owner-occupants looking to capitalize on Petoskey’s thriving downtown atmosphere. The property next door is also for sale by the same owner, and includes another duplex.
Property Details
Home Type
- Multi-Family
Year Built
- Built in 1900
Home Design
- Wood Frame Construction
- Asphalt Shingled Roof
Interior Spaces
- 3,850 Sq Ft Home
- Wood Frame Window
- Water Views
- Partial Basement
- Range
Utilities
- Forced Air Heating System
- Heating System Uses Natural Gas
- Cable TV Available
Additional Features
- Lot Dimensions are 75x98
- Ground Level
Listing and Financial Details
- Assessor Parcel Number 52-19-06-127-054
Community Details
Overview
- 5 Units
Building Details
- 5 Separate Electric Meters
- 5 Separate Gas Meters
- 3 Separate Water Meters
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $4,698 | $190,900 | $190,900 | $0 |
| 2024 | $45 | $171,000 | $171,000 | $0 |
| 2023 | $4,278 | $157,300 | $157,300 | $0 |
| 2022 | $4,278 | $148,500 | $148,500 | $0 |
| 2021 | $4,156 | $142,000 | $142,000 | $0 |
| 2020 | $4,166 | $117,100 | $117,100 | $0 |
| 2019 | -- | $106,600 | $106,600 | $0 |
| 2018 | -- | $109,100 | $109,100 | $0 |
| 2017 | -- | $100,800 | $100,800 | $0 |
| 2016 | -- | $95,700 | $95,700 | $0 |
| 2015 | -- | $92,500 | $0 | $0 |
| 2014 | -- | $90,300 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 05/02/2025 05/02/25 | For Sale | $365,000 | -- | $95 / Sq Ft |
Source: Northern Michigan MLS
MLS Number: 476298
APN: 52-19-06-127-054
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