Under Contract
151 River Street, Elk Rapids, MI 49629
$1,174,000
MLS # 1939910 (Northern Great Lakes REALTORS® MLS)
2 bathsBuilt 19250.18 acres
1 / 55
Listing Description
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.
Source: SparkMLS
About this home
This 2-bath home built in 1925 sits in Elk Rapids Village in Elk Rapids.
Currently offered at $1,174,000.
Electric service is provided by Consumers Energy Company; natural gas by DTE Gas Company.
Listing Property Details
Property TypeCommercial Sale
Bathrooms2
Lot Size0.18 acres
Year Built1925
Location
CityElk Rapids
Zip Code49629
CountyAntrim
Construction & Systems
HeatingForced Air
SewerPublic
Sale & Financing
Listed10/23/2025
Original Price$1,249,000
Source: SparkMLS
Tax Information
Source: SparkMLS
Legal Description
partial from tax ID: LOT 9 PLAT OF THE VILL OF ELK RAPIDS
Property Records
USDA Rural Development: Eligible — 0% Down Payment Available
Verify eligibility at USDAListed by Alex MacKenzie
Coldwell Banker Schmidt Traverse City
Frequently Asked Questions about 151 River Street, Elk Rapids, MI 49629
Is 151 River Street, Elk Rapids, MI 49629 eligible for USDA financing?
Per USDA boundary maps, this property is located in a USDA-eligible area, which means qualified buyers may be able to finance with 0% down through the USDA Rural Development program. Confirm current eligibility directly with USDA.
Who are the utility providers for this property?
Per Michigan Public Service Commission service territory data: Electric: Consumers Energy Company. Gas: DTE Gas Company. Sewer: Public. Confirm service details directly with providers.
How safe is this area?
For crime and public safety data, we recommend inquiring directly with the local police department or county sheriff's office.
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Monthly payment$7,615
Principal & interest$7,615
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Utilities
Consumers Energy Company
Investor-Owned
DTE Gas Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
151 River Street, Elk Rapids, MI 49629
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Municipality
Elk Rapids Village
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