128 River Street, Elk Rapids, MI 49629
H H Nobles Add To Elk Rapids · Antrim County
Key Facts
Description
Rare opportunity to acquire a landmark mixed-use property in the heart of downtown Elk Rapids, Michigan, conveniently located near the harbor. Originally constructed circa 1948 as a bank, this distinctive building retains its historic character, including the original vault, and is now home to the long-standing Mullaly’s 128 Gallery. The gallery features the work of over 200 fine artists and craftsmen from across North America, including pieces by the late Bill Mullaly, and offers an impressive collection of pottery, jewelry, original paintings, wood, glass, and other mixed media. Well known among both locals and visitors, the gallery has earned a reputation for its “Outstanding Glass” and one-of-a-kind artistic offerings. The upper level includes a thoughtfully designed owner’s residence added by the current owner, offering flexible living space with a generous primary suite featuring a jetted tub and walk-in closet, a large guest bedroom, and a den suitable for a variety of uses, including a potential non-conforming third bedroom. One wood-burning fireplace is located within the residence, while a second adds character and ambiance to the gallery addition. The residence also features a spacious private deck, ideal for outdoor living, with views toward the harbor. Additional amenities include a two-car garage and a fenced outdoor area. This offering includes both the real estate and the business, presenting a unique opportunity in a prime downtown location. Inventory will be transferred via a separate bill of sale. To maintain privacy and professional standards, the property is shown by appointment only. Prospective buyers can review local zoning details via the Elk Rapids Village website to explore the full potential of this location.
Property Information
Property Type
Commercial Sale
Sub-Type
Retail
Year Built
1948
Living Area
4,564 sq ft
Lot Size
0.07 acres
Lot Dimensions
130X25
Days on Market
3
MLS® Listing#
1943836
Property Features
Heating
Basement
Parking
Lot Features
Construction
Foundation
Roof
Security
Sewer
Water Source
Financial Details
HOA
Yes
Annual Taxes
$3,877
Tax year 2025
Assessed Value
$136,215
Parcel Number
05-43-250-013-00
Directions
From Traverse City, take US-31 North for about 15–17 miles into Elk Rapids. Continue straight, then turn left onto River Street. Drive a short distance; 128 River Street will be on your right.
Affordability Calculator
$261,000
Estimated monthly payment
$6,946/mo
Principal $1,044,000 · Est. interest $1,456,473 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Elk Rapids, MI
- $345,017
- Median Listing Price
- 40
- Median Days on Market
- 1,669
- Median Sq Ft
- $206
- Median Price / Sq Ft
- 1,087
- Active Listings
- This home’s price is 278% above the area median.
- Its price per sq ft is 39% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Elk Rapids, MI.
Location
Points of Interest in Elk Rapids, MI
Showing the Elk Rapids area map.
Nearby Schools
Elk Rapids Schools
Elementary · 0.9 mi away
Cherryland Middle School
Secondary · 0.9 mi away
Elk Rapids Public School
Secondary · 0.9 mi away
Elk Rapids High School
Secondary · 1.0 mi away
Old Mission Peninsula School
Elementary · 5.5 mi away
Rapid City Elementary School
Elementary · 7.8 mi away
Elk Rapids Schools
Elementary · 8.6 mi away
John R Rodger Elementary School
Elementary · 11.0 mi away
Bellaire Middle & High School
Secondary · 11.4 mi away
Bellaire Elementary School
Elementary · 11.4 mi away
Traverse Bay Christian School
School · 11.9 mi away
Community Children's Center
School · 12.0 mi away
Eastern Elementary School
Elementary · 12.2 mi away
Traverse City Area Public Schools
Elementary · 12.4 mi away
Traverse City Central High School
Secondary · 12.4 mi away
Bethlehem Nursery School
Elementary · 12.8 mi away
Kitchi Minogining Tribal School
School · 12.8 mi away
Pathfinder School
School · 12.8 mi away
North Ed Career Tech
Secondary · 12.8 mi away
Traverse Bay Area Intermediate School
School · 12.9 mi away
Commute Calculator
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|---|---|---|---|---|
| 7710 Cascade Pines Drive SE, Grand Rapids, MI | $929,900 | 4 | 3 | 4,325 |
| 144 Oakes Street SW 2203, Grand Rapids City, MI | $950,000 | 3 | 3 | 1,710 |
| 144 Oakes Street SW, Grand Rapids, MI | $950,000 | 3 | 3 | 1,710 |
| 2412 Lake Drive SE, East Grand Rapids, MI | $950,000 | 4 | 3 | 3,145 |
| 2412 Lake Drive SE, East Grand Rapids City, MI | $950,000 | 4 | 3 | 3,145 |
| 2525 Lake Drive SE, East Grand Rapids, MI | $950,000 | 4 | 4 | 2,361 |
Moving Cost Estimate
EXIT Agents in Elk Rapids
Listing Courtesy: Century 21 Northland - Cell: 231-534-4753