401 River St

Retail-Commercial for Sale
Catylist Listing ID: 29926512
Property Subtypes: Mixed Use, Restaurant, Street Retail, Other
Building Size (RSF): 7,100 SF
Gross Building Area: See Agent
Sale Price: $289,900
Unit Price: $40.83 PSF
Property Use Type: Investment, Vacant/Owner-User, Business
Building Name: City Drug Building
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 10/20/2017

Overview / Comments

Ideally located on a busy corner downtown Manistee. The first floor has been remodeled and is being rented to a month to month tenant. Second floor has been gutted and has a lot of potential for loft apartments or for a live/work situation. Substantial investments have already been made to the building and it is ready for the next owner.

Also included in the listing is the adjacent 68' x 100' parking lot which includes 20 private parking spaces making this ideal for a restaurant with a desires for an outdoor patio or a mixed use development with sufficient parking for multiple residences or both.

Buyer to verify all information included in the listing.

Additional Details

Nearest MSA: Traverse City
County: Manistee
Tax ID/APN: 51-51-350-702-13 & 51-51-350-702-07
Zoning: C-3
Retail Clientele: General, Family, Business
Property Visibility: Good
Tenancy: Multiple Tenants
Typical SF / Floor: 3,600 SF
Property Condition: Average
Year Built: 1897
Year Renovated: 2009
Roof Type: Flat
Construction/Siding: Brick
Total Parking Spaces: 20

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,443 8,106 10,470
Median Age: 43.64 44.75 46.46
Households: 2,480 3,675 4,590


Photograph of Listing Agent

Benjamin Pitcher

DAR Development Inc. CARWM Member
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