1133 16Th St Manitowoc, WI 54220

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.