382 River StManistee, MI 49660

Property Details for 382 River St

Lot size

0.24 AC

Property type

Commercial real estate

APN

51-452-701-11

APU

5145270111

Description

This exceptional mixed-use property, located at 382 River St, Manistee, MI 49660, presents a unique investment opportunity. The 6,992 square foot building, constructed in 1880 and renovated in 2003, boasts a prime downtown location overlooking the Manistee River Channel, directly across from the Vogue Theater. The property features a blend of commercial and residential space, including two retail storefronts and four apartments within a single two-story building situated on a 10,885 square foot lot. Currently, the occupancy rate is 33%. The building is classified as Class C and is offered at an asking price of $425,000. The property's APN is 51-452-701-11 and is owned by an LLC. While the apartments are currently vacant, they offer significant potential for renovation and income generation. This presents an ideal opportunity for an owner/user seeking a blend of retail and residential space in a vibrant downtown setting. Showings begin November 15, 2024. The property's historical charm combined with its strategic location makes it a compelling investment prospect.

• Alternative Use

  Use

  Valuation

  Residential

  $2,185,470

  Hospitality

  $2,001,879

  Educational

  $1,665,540

  Medical

  $1,722,820

  Retail

  $2,590,840

Location Insight

City

Manistee

County

Manistee

State

Michigan

Latitude

44.2481

Longitude

-86.3228

Property Tax & Assessments

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