Property profile

328 1st St Manistee, MI 49660

OFF-MARKET
Commercial real estate
Property ID
US43-3265527
0.35 ac lot
Entity Owned 16-yr Hold ~ Est. High Equity
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Property summary

AI-generated overview

This unique Manistee property presents a compelling investment opportunity. Priced at $719,000, this landmark building offers versatile commercial space on the ground floor, currently occupied by a health food store. The expansive area presents significant potential for various businesses. Two upper-floor apartments generate rental income, adding to the property's value. A separate 936 square-foot building, currently used as an insurance office, is also included. The property boasts ample parking on a half-block lot situated on a busy Manistee corner, enhancing visibility and accessibility. An additional outlot is available for signage, further maximizing marketing opportunities. The main building features approximately 119 feet of road frontage. Located in Manistee Township near the hospital, this 15,246 square-foot lot offers a blend of historic charm and modern commercial viability. The property's prime location and diverse income streams make it an attractive investment for discerning buyers.

Property profile

Verified
Property type Commercial real estate
Use group COMMERCIAL (GENERAL)
Lot 0.35 ac (15,246 SF)
APN 51-448-726-09
UPID US43-3265527

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

328 1st St Manistee, MI 49660-1702
Manistee metro Census 900
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$560k

Owner & transaction history

since 2009
Last sale
$520,000
1 recorded transaction
2009
$229,000

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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