540 Water St Manistee, MI 49660-1532
- Commercial land
Current Use by Public Records
- Commercial land
Property Details for 540 Water St
- Property type
- Commercial land
- APN
- 51-365-703-07
- APU
- 5136570307
Description
This exceptional waterfront commercial property, located at 540 Water Street in Manistee, Michigan, presents a rare investment opportunity. The Cedar Street Marina boasts 26 slips and three buildings, consistently operating at full capacity each season. Its prime location, the closest marina to Lake Michigan in Manistee, is highly sought after by boaters, particularly those targeting the renowned Manistee Fishery. Built for longevity, the marina features extra-deep pilings installed during a renovation several decades ago, ensuring its resilience against the elements. The property sits on a 0.37-acre lot, offering potential for future expansion subject to approval from the City of Manistee. This turnkey operation is a proven success, providing immediate income generation and significant long-term growth potential. The established reputation and high demand make this a truly exceptional investment in a desirable waterfront location. The marina's enduring popularity among captains and boaters underscores its strong market position and the potential for continued success. This is a unique chance to acquire a well-established and profitable marina business with the possibility of further development. The asking price is $425,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Manistee
- County
- Manistee
- State
- Michigan
- Longitude
- -86.3335
- Latitude
- 44.2469
