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Listing provided courtesy of Coldwell Banker Schmidt Traverse CityMLS# 1939910MLS ProviderContact Information: 231-922-2350
  • 249 days on site
  • 3 views

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: Northern Great Lakes MLS, MLS#: 1939910

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  • Property Type
    Commercial Sale
  • Lot
    0.18 acres

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Donald Fedrigon

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Owning this Home

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* All calculations are estimates and provided by Reliance Network, for informational purposes only. Actual amounts may vary. ** Assumes 6.50% APR, 20% down payment, and conventional 30-year fixed rate first mortgage. Rates cited are for instructional purposes only; current rates are subject to change at any time without notice. You should not make any decisions based simply on the information provided. Additional required amounts such as taxes, insurance, homeowner association dues, assessments, mortgage insurance premiums, flood insurance or other such required payments should also be considered. Contact your mortgage company for current rates and additional information. Any mortgage broker or insurance agent that may appear is independent and is not affiliated with, endorsed by, or provided by the MLS.

Life at 151 River Street

Schools


School data courtesy of LiveBy, Inc.
Ratings are based on a scale of 1-5, with 5 being the highest rating and 1 being the lowest rating. The schools displayed on this website are for informational purposes only and may not represent a complete or up-to-date list. School assignments are subject to change and should be verified directly with the local school district. Please contact the appropriate school district to confirm school zoning and enrollment eligibility for this property.

History

Date Event Value Agent
6/1/2026Source: Northern Great Lakes MLS Status Change
Active U/C Taking Backups
6/1/2026Source: Northern Great Lakes MLS Status Change
Active U/C Taking Backups
4/22/2026Source: Northern Great Lakes MLS Status Change
Active
4/22/2026Source: Northern Great Lakes MLS Status Change
Active
4/19/2026Source: Northern Great Lakes MLS Status Change
Extend
4/19/2026Source: Northern Great Lakes MLS Status Change
Extend
4/3/2026Source: Northern Great Lakes MLS Status Change
Active
3/31/2026Source: Northern Great Lakes MLS Price Reduction
$1,174,000 -4.1%
3/31/2026Source: Northern Great Lakes MLS Status Change
Price Change
1/9/2026Source: Northern Great Lakes MLS Status Change
Active
1/9/2026Source: Northern Great Lakes MLS Status Change
Active
1/7/2026Source: Northern Great Lakes MLS Price Reduction
$6,859 -1.7%
1/7/2026Source: Northern Great Lakes MLS Price Reduction
$1,224,000 -2.0%
1/7/2026Source: Northern Great Lakes MLS Status Change
Price Change
1/7/2026Source: Northern Great Lakes MLS Status Change
Price Change
10/27/2025Source: Northern Great Lakes MLS Status Change
Active
10/27/2025Source: Northern Great Lakes MLS Status Change
Active
10/24/2025Source: Northern Great Lakes MLS Added to Database
October 24, 2025
10/24/2025Source: Northern Great Lakes MLS Added to Database
October 24, 2025
3/20/2025Source: Northern Great Lakes MLS Added to Database
March 20, 2025