520 Water St Manistee, MI 49660-1532

Property Details for 520 Water St

Lot size

1.02 lot acres

Property type

Commercial real estate

APN

51-365-702-01

APU

5136570201

Description

This exceptional investment opportunity presents a historic 20-room motel situated on the Manistee River Channel, built in 1950. Boasting approximately 350 feet of prime riverwalk frontage, the property includes a 16-30 slip marina with potential for expansion up to 24 slips, providing direct access to Lake Michigan. The motel's 6,268 square feet are situated on a 1.06-acre lot. All 20 guest rooms have undergone tasteful updates, enhancing their appeal and comfort. Currently undergoing renovation, the living quarters offer additional potential. This prime location offers unparalleled access to both the vibrant downtown Manistee area and the stunning shores of Lake Michigan, providing guests with the best of both worlds. The property's strategic positioning ensures high visibility and convenient access to local attractions and amenities. This is a rare chance to acquire a well-established business with significant expansion potential in a desirable location. The property's history, combined with its modern updates and prime waterfront location, makes it an attractive investment opportunity with strong potential for future growth and profitability. The attached updates provide further details on the ongoing renovations. The asking price for this unique property is $1,800,000.