Property Details for 1133 16Th St

Year built

1920

Lot size

0.83 lot acres

Property size

88,740 SF

Property type

Warehouses

Property subtype

Industrial properties

Description

This exceptional 88,740-square-foot industrial building in Manitowoc, Wisconsin, presents a unique investment opportunity. Located at 1133 S 16th St, this three-story Class C property boasts a prime location, just minutes from downtown Manitowoc and the interstate. The building features two drive-in loading docks and two dock-high doors, ensuring efficient loading and unloading. A 12-foot ceiling height provides ample storage space. The property includes a service elevator and a freight elevator, both annually inspected and in good working order. The roof is in excellent condition, featuring a durable rubber membrane. Phase 1 and 2 environmental assessments are complete, revealing no significant issues. The property is zoned for light industrial use and sits on a 0.83-acre lot. It's currently listed for sale by owner at $1,150,000 under a NNN lease type. The building has already received designation for Phase 1 historical tax credits, with final approval pending for Phase 2. The city of Manitowoc is prepared to place the property in a Tax Increment District (TID)/Tax Increment Financing (TIF) program and may relocate a bus route to enhance accessibility, depending on the proposed project. A significant $625,000 congressional grant was awarded to the developer for conversion into an affordable housing project, offering a compelling redevelopment path. Lease options are available for negotiation for the right tenant occupying the entire space. A mixed-use plan incorporating assisted living and affordable housing is also available upon request, with potential unit mixes of 76 or 81 units.

Location Insight

City

Manitowoc

County

Manitowoc

State

Wisconsin

Longitude

-87.6687

Latitude

44.0859