Sold
300 W Philip Street, Lake Leelanau, MI 49653
Sold on 05/08/2026 for$465,000
MLS # 1943541 (Northern Great Lakes REALTORS® MLS)
2 beds1 bathBuilt 20000.24 acres
1 / 36
Listing Description
Unique investment opportunity in Lake Leelanau to own a versatile commercial/income property featuring 24 fully rented self-storage units and a charming 2-bedroom, 1-bath cottage offering approximately 480 sq ft. The cottage is currently utilized as a short-term rental and is ideally located near the Narrows of Lake Leelanau, with close proximity to restaurants, wineries, and nearby lake access—making it an attractive option for both visitors and long-term use. With all storage units fully occupied, this property offers immediate and consistent income, along with additional revenue potential from the cottage. Ideally positioned in a desirable Lake Leelanau location, this is a unique opportunity to invest in a property with multiple income streams and strong local demand. Square footage includes both the storage units and the cottage. Year built is approximate for the storage units; the house was relocated to the property and its exact age is unknown.
Source: SparkMLS
About this home
This 2-bedroom, 1-bath home built in 2000 sits in Lake Leelanau.
This home sold for $465,000.
Electric service is provided by Cherryland Electric Cooperative; natural gas by DTE Gas Company.
Listing Property Details
Property TypeResidential
Property SubtypeSingle Family Residence
Bedrooms2
Bathrooms1
Lot Size0.24 acres
Year Built2000
Stories1
Location
CityLake Leelanau
Zip Code49653
CountyLeelanau
Construction & Systems
HeatingForced Air
WaterPrivate Water
SewerPublic
Sale & Financing
Listed4/6/2026
Sold Date5/7/2026
Terms AcceptedCash, Conventional
Source: SparkMLS
Property Records
FEMA Flood Zone: Zone X — Minimal flood risk
Source: FEMA NFHLUSDA Rural Development: Eligible — 0% Down Payment Available
Verify eligibility at USDAListed by Roger P Schaub
Schaub Team Premier Realty
Frequently Asked Questions about 300 W Philip Street, Lake Leelanau, MI 49653
What type of financing is accepted for this listing?
Per MLS# 1943541, the seller has indicated this property accepts the following financing types: Cash, Conventional. Financing acceptance is subject to change — confirm with the listing agent.
Is 300 W Philip Street, Lake Leelanau, MI 49653 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.
What is the FEMA flood zone designation for this property?
Per FEMA's National Flood Hazard Layer, 300 W Philip Street, Lake Leelanau, MI 49653 is in flood zone X (minimal risk). Flood insurance is not typically required in this zone but may still be advisable. FEMA flood maps are updated periodically — verify the current designation at msc.fema.gov.
Who are the utility providers for this property?
Per Michigan Public Service Commission service territory data: Electric: Cherryland Electric Cooperative. Gas: DTE Gas Company. Sewer: Public. Water: Private Water. 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$2,782
Principal & interest$2,782
Estimate only. Does not include PMI or other fees. Consult a lender for exact rates.
Utilities
Cherryland Electric Cooperative
Co-op
DTE Gas Company
Investor-Owned
MI Public Service Commission service territory boundaries.
Property
300 W Philip Street, Lake Leelanau, MI 49653
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