The Palace Saloon and Vacation Rentals — Sale in Sault Ste. Marie, MI
- Price: $995K
- Listing type: For sale
- Asset type: Business
- Location: Sault Ste. Marie, MI 49783
- Size: 9,254 SF
- Year built: 1903
Photos
Investment Figures
- Price per square foot
- $108
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
The Palace Saloon offers a rare opportunity to acquire a highly visible, income‑producing mixed‑use property in the heart of downtown Sault Ste. Marie. Situated on 0.16 acres along Portage Avenue, the city’s primary pedestrian corridor, the property sits steps from the Soo Locks, one of Michigan’s most visited attractions drawing approximately 500,000 visitors annually. This prime location ensures exceptional year‑round visibility and consistent foot traffic. The three‑story building operates as a well‑established restaurant and saloon on the main level, benefiting from strong exposure to both local patrons and the steady flow of tourists visiting the Locks. The upper floors feature three updated rental units, currently functioning as successful vacation rentals, providing diversified income streams and strong short‑term rental demand driven by the downtown location. The sale includes a liquor license and all restaurant and bar equipment, offering a turnkey opportunity for operators or investors seeking a fully equipped hospitality asset with built‑in residential income. With its strategic position on Portage Avenue, proximity to major tourist activity, and established operational infrastructure, The Palace Saloon stands out as a premier mixed‑use investment in Sault Ste. Marie’s downtown district. Building SF: 9254 | Land Size: 0.16 Ac | Year Built: 1903 | Listing Type: FOR SALE
Market Context
This commercial property in Sault Ste. Marie, MI is listed for sale at $995,000 across 9,254 SF. The building dates to 1903. Compare it against other commercial property listings for sale in Sault Ste. Marie, MI — view the full market.
First seen on CREHunt: Aug 16, 2026
Contact
- Leah Jackson — KW Commercial | Northern Michigan | Leah Jackson · +19064400907 · leah.jackson@kw.com
- Leah Jackson · +19064400907 · leah.jackson@kw.com
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