Huge Development Opportunity

Special Purpose for Sale
Catylist Listing ID: 30151974
Building Size (RSF): 72,000 SF
Gross Land Area: 6 Acres
Sale Price: $899,000
Ceiling: 76 ft.
Property Use Type: Investment
Usable Size (USF): 72,000 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 1/17/2018

Overview / Comments

Originally built as The Manistee Iron Works and opened in 1907, construction is steel, concrete and brick. The main building is 260 feet long and 120 feet wide and roughly 76 feet high and is entirely open, vaulted space. Current use is primarily warehouse/product storage for local industry, The southwest corner of the building houses the Iron Works Cafe. The main building has a rail siding and a large overhead door. The attached rear warehouse includes overhead cranes and several large overhead doors. The 6.43 acres of property is located at the east end of Manistee's Historic Downtown commercial district in the "Peninsula District" and has 400+ feet of deep water Manistee River channel with direct Lake Michigan access. Development potential is nearly limitless. Zoning in this location and the size and scope of the building and property allow for a wide range of mixed multiple uses. Housing/condo, retail and other commercial, entertainment, restaurants, nightclub...there's room and potential for it all! Imagination is the only limitation...

Additional Details

Nearest MSA: Ludington
County: Manistee
Submarket Type: Redevelopment District
Taxing Authority: City of Manistee
Tax ID/APN: 515144870201
Property Located Between: US-31 and Manistee Lake
Property Visibility: Excellent
Largest Nearby Street: US-31
Feet of Frontage: 400
Highway Access: US-31 1 block west
Airports: Manistee Blacker Airport
Site Description: 6.43 acres at the east end of Historic Manistee Downtown commercial district. 400+ feet of deep water Manistee River channel with direct access to Lake Michigan. Rail siding into main building
Area Description: Peninsula District - Allows for multiple, mixed uses
Total Number of Buildings: 3
Number of Stories: 3
Property Condition: Average
Year Built: 1907
Roof Type: Gable
Construction/Siding: Brick, Concrete, Steel Frame
Exterior Description: Brick
Parking Type: Surface
Parking Description: Street and behind warehouses
Freight Elevators: 3
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Other
Interior Description: Primarily open warehouse. Cafe with limited seating is located in the SW corner of the main building with entry off of River St
Zoning Description: Industrial/commercial - (formerly Renaissance Zone)
Lot Frontage: 400
Lot Depth: 615
Water Service: Municipal
Sewer Type: Municipal, Storm
Land Ownership: Manistee Iron Works, LLC
Legal Description: Filer & Smiths Add'n - Lots 1 -12

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,665 8,106 11,855
Median Age: 39.71 44.75 46.82
Households: 1,627 3,675 5,208
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