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.
For sale
$365,000
319 W Mitchell St, Petoskey, MI 49770
4beds
4baths
3,850sqft
Est.:
Other
Built in 1900
-- sqft lot
$-- Zestimate®
$95/sqft
$-- HOA
What's special
Year-round water view
- 101 days
- on Zillow |
- 1,469 |
- 52 |
Zillow last checked: 7 hours ago
Listing updated: May 11, 2025 at 11:02pm
Listed by:
Real Estate One 231-347-6200
Source: Northern Michigan MLS,MLS#: 476298

Travel times
Tour with a buyer's agent
Tour with a buyer's agent
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 4
- Bathrooms: 4
Heating
- Natural Gas, Forced Air
Appliances
- Included: Range, Refrigerator
Features
- Basement: Partial
Interior area
- Total structure area: 3,850
- Total interior livable area: 3,850 sqft
Property
Lot
- Size: 7,350 Square Feet
- Dimensions: 75 x 98
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Other
Condition
- Year built: 1900
Utilities & green energy
- Sewer: City
- Water: City
- Utilities for property: Cable Connected
Community & HOA
Location
- Region: Petoskey
Financial & listing details
- Price per square foot: $95/sqft
- Date on market: 5/2/2025
- Total actual rent: 2400
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