520 Water St - Hospitality FOR SALE


Manistee, MI 49660
$1,800,000 USD
231-425-6935
520 Water St, Manistee, MI for Sale
$1,800,000 USD
Hospitality - FOR SALE
1/16
null | Request Cap Rate

520 Water St
Manistee, MI 49660


HIGHLIGHTS

  • Boats Slips
  • Manistee River, Lake Michigan
  • High traffic, visibility and great location

OVERVIEW

Here is an opportunity to own a piece of history with the first Motel in Manistee built in 1950 on the Manistee River Channel. This amazing piece of property has approximately 350 feet of frontage on the Riverwalk and 16-30 ft boat slip marina all leading to Lake Michigan with room to expand to 24 slips. All the rooms have been tastefully updated. (please see attached updates) This outstanding location is perfectly positioned between downtown Manistee and the shores of Lake Michigan, offering the best of both worlds. Whether enjoying the charm of the historic downtown area or the natural beauty of the lake, residents and visitors can easily access both within minutes.

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$328 USD /SF

# OF ROOMS

20

PRICE/ROOM

$90,000 {currency}

CAP RATE

Request Cap Rate

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Riverside Motel & Marina

PROPERTY TYPE

Hospitality

TOTAL BUILDING SIZE

-

STORIES

1

ROOM ENTRANCE

Exterior

BUILDING CLASS

C

YEAR BUILT

1950

PARKING SPACES

23

LAND DETAILS

LAND ACRES

1.6 AC

LAND SF

69,696 SF

ZONING

C2

APN/PARCEL ID

51-365-702-01

ASK ABOUT THIS PROPERTY

Jermaine SullivanDwelling Realty - KW Northern MichiganMore Info
231-425-6935

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Jermaine SullivanDwelling Realty - KW Northern MichiganMore Info
231-425-6935

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.