$599,900

425 & 431 Madison St Petoskey, MI 49770

Estimated payment $3,768/month

Total Views 53,344
8 Beds
4 Baths
6,728 Sq Ft
$89 Price per Sq Ft

Highlights

  • Patio
  • Forced Air Heating System
  • Furniture Available With House

About This Home

Fantastic opportunity to own a mixed-use income producing property in the city limits of Petoskey. The property consists of a commercial store front, and 4 residential rental units. The commercial space is currently occupied by the owner and is 2350 square feet. The space would be ideal for any contractor type business. The residential units consist of a duplex with a 3-bedroom apartment and a studio apartment as well as a separate 28X40 garage. The next unit is a newly remodeled 1-bedroom unit above a 2-car garage. The last unit is a free standing 4-bedroom home with new roof. All units are fully occupied with long term tenants that would like to continue renting. See listing agent for further details.

Listing Agent

C.T. Shuman

Real Estate One Listed on: 08/22/2024

Real Estate One

Property Details

Home Type

  • Multi-Family

Parking

  • 3 Car Garage

Home Design

  • Wood Frame Construction
  • Asphalt Shingled Roof
  • Metal Roof

Interior Spaces

  • 6,728 Sq Ft Home
  • Furniture Available With House
  • Insulated Windows
  • Basement Fills Entire Space Under The House
  • Range
  • Dryer

Utilities

  • Forced Air Heating System
  • Heating System Uses Natural Gas
  • Cable TV Available

Additional Features

  • Patio
  • Ground Level

Listing and Financial Details

  • Assessor Parcel Number 52-19-06-127-064&063

Community Details

Overview

  • 5 Units

Building Details

  • 5 Separate Electric Meters
  • 3 Separate Gas Meters

Property Details

Home Type

Multi-Family

Lot Details

0

Listing Details

  • Class: MULTI-FAMILY
  • Type: Multifamily
  • Lvt Date: 08/22/2024
  • Section: 6
  • Second Address Number: 425 & 431
  • Directions: W Mitchell St to Madison property is second drive on the right. Property can also be accessed off alley from Ingalls Ave
  • Price per Sq Ft: 89.16
  • OFFICELIST_STATE: MI
  • Special Features: None
  • Property Sub Type: MultiFamily

Interior Features

  • Features: Cable, Dryer, Range, Refrigerator
  • Basement: Full
  • Total Sq Ft: 6728
  • Above Grade Finished Sq Ft: 6728
  • Windows: Insulated

Exterior Features

  • Construction: Wood Frame
  • Roof: Asphalt Shingles, Metal
  • Waterfront Water Access: Neither

Garage/Parking

  • Number Garage Stalls: 3

Utilities

  • Heat Type: Natural Gas, Forced Air
  • Sewer: City
  • Water: City
  • Number Electric Meters: 5
  • Number Gas Meters: 3
  • Number Water Heaters: 3

Schools

  • School District: Petoskey
  • School District: Petoskey

Lot Info

  • Zoning: RM-2

Tax Info

  • Assessor Parcel Number: 52-19-06-127-064&063

Multi Family

  • Number Of Units: 5

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
06/16/2025 06/16/25 Price Changed $599,900 -7.7% $89 / Sq Ft
10/23/2024 10/23/24 Price Changed $649,900 -4.4% $97 / Sq Ft
08/22/2024 08/22/24 For Sale $679,900 -- $101 / Sq Ft
Source: Northern Michigan MLS

About the Listing Agent

C.T. Shuman
C.T. Shuman

Real Estate One

(231) 400-4322

Section Image

C.T. Shuman is a Petoskey native. He can't imagine a more perfect childhood than the one he had here in Petoskey. He grew up loving all that the area has to offer - endless summer days at the beach or out on the lakes, summer nights around a bonfire and winter days skiing fresh powder. After graduating from Petoskey High School, he went on to earn an Associate Degree in Real Estate and a Bachelor Degree in Marketing Sales from Ferris State University.

His current hobbies somewhat mimic

View C.T.'s Profile

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Source: Northern Michigan MLS

MLS Number: 474697

Northern Michigan MLS
Michigan Emmet County Petoskey 49770

425 & 431 Madison St, Petoskey, MI

This home is located at 425 & 431 Madison St, Petoskey, MI 49770 and is currently priced at $599,900, approximately $89 per square foot. 425 & 431 Madison St is a home located in Emmet County with nearby schools including Petoskey High School, Concord Academy of Petoskey, and St. Michael Academy.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

Northern Michigan MLS IDX information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but not guaranteed.

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C.T. Shuman
C.T. Shuman
Listing Agent Section Image
Real Estate One
(231) 400-4322