Coldwell Banker Home Page
Skip to main contentColdwell Banker Home Page
Local Realty Service Provided By: Coldwell Banker Schmidt Realtors
Property view
Listing view 2
Listing view 3

624 Michigan Street, 
Petoskey, MI 49770

$2,500,000

—

Bed

—

Bath

8,496

Sq Ft

Multi-Family

Active

Listed by

Christopher Skrobeck

, 

Jazmin Harris

Van Treese Management LLC.

231-347-3943

Last updated:

August 28, 2025, 05:47 PM

MLS#

477583

Source:

MI NMMLS

About This Home

624 Michigan Street

Portfolio sale of three multifamily assets within the City of Petoskey - 524 State (6 units), 624 Michigan (5), and 138 E Sheridan (5) - 16 units total. Walkable, high-demand neighborhoods close to downtown, employment, and waterfront. Current income approx $23,750/mo (~$285k/yr) with T12 NOI ~ $185,806 (Aug '24-Jul '25). Extensive capital improvements completed: More than $500,000 pre-sale across the portfolio plus more than $100,000 by current owner (LJM) in 2024-25, including AC systems, windows, foundation and interior upgrades. Offered as a portfolio only; properties will not be sold individually. Financials, rent roll, and improvement summaries available; showings by appointment with proof of funds. Do not disturb tenants.

Home Facts

Multi-Family

Price Summary

2,500,000

$294 per Sq. Ft.

MLS #:

477583

Last Updated:

August 28, 2025, 05:47 PM

Rooms & Interior

Interior

Living Area:

8,496 Sq. Ft.

Structure

Structure

Building Area:

8,496 Sq. Ft.

Finances & Disclosures

Finances

Price:

$2,500,000

Price per Sq. Ft:

$294 per Sq. Ft.

Source:MI NMMLS
The information being provided by Emmet Association of Realtors ¿ Northern Michigan MLS is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information is deemed reliable but not guaranteed and should therefore be independently verified. © 2025 Emmet Association of Realtors ¿ Northern Michigan MLS All rights reserved.

Contact an Agent

Yes, I would like more information from Coldwell Banker. Please use and/or share my information with a Coldwell Banker agent to contact me about my real estate needs.

By clicking Contact I agree a Coldwell Banker Agent may contact me by phone or text message including by automated means and prerecorded messages about real estate services, and that I can access real estate services without providing my phone number. I acknowledge that I have read and agree to the Terms of Use and Privacy Notice.

 

Contact an Agent

Yes, I would like more information from Coldwell Banker. Please use and/or share my information with a Coldwell Banker agent to contact me about my real estate needs.

By clicking Contact I agree a Coldwell Banker Agent may contact me by phone or text message including by automated means and prerecorded messages about real estate services, and that I can access real estate services without providing my phone number. I acknowledge that I have read and agree to the Terms of Use and Privacy Notice.