1222 Alverno RdManitowoc, WI 54220

Property Details for 1222 Alverno Rd

Year built

1940

Lot size

1.37 AC

Property size (Sq ft)

8,627 SF

Property type

Retail properties

Property subtype

Turn key restaurants

APN

52-828-404-115.00

APU

5282840411500

Description

This exceptional investment opportunity presents a thriving, turnkey bar and banquet hall located at 1222 South Alverno Rd, Manitowoc, WI 54220. Boasting 8,627 square feet on a 3.69-acre lot, this established business, operating as Knox's Silver Valley since 2004, enjoys a long-standing reputation for its excellent food, ambiance, and memorable events. The property includes a fully equipped kitchen, oversized walk-in coolers and freezer, ample storage, a security system, and a point-of-sale (POS) system. Recent renovations have enhanced the building's prime condition, featuring new hardwood and linoleum floors, street-view commercial windows, and a steel roof. The property also offers 100 parking stalls, a significant advantage for hosting large events such as weddings, anniversaries, funerals, business meetings, and private parties. Located within city limits, the property benefits from city water and sewer services. Seller financing is available. This is a rare opportunity to acquire a well-established, profitable business with significant potential for continued growth. The property is conveniently located on the edge of town, providing easy access for patrons.

• CAP approach

  CAP return

  Valuation

  6%

  $2,289,830

  6.5%

  $2,113,689

  7%

  $1,962,711

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,207,118

  Geo Method

  $2,831,640

• Alternative Use

  Use

  Valuation

  Residential

  $1,782,976

  Hospitality

  $1,633,196

  Educational

  $1,358,800

  Medical

  $1,405,531

  Retail

  $2,113,689

Location Insight

City

Manitowoc

County

Manitowoc

State

Wisconsin

Latitude

44.0841

Longitude

-87.7417

CBSA code

31820

CBSA name

MANITOWOC, WI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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