601 Reed AveManitowoc, WI 54220

Property Details for 601 Reed Ave

Year built

1956

Lot size

5.48 AC

Property size (Sq ft)

45,904 SF

Property type

Medical offices

Property subtype

Medical centers

APN

52-817-304-040.00

APU

5281730404000

Description

This exceptional commercial property, located at 601 Reed Avenue in Manitowoc, Wisconsin, presents a unique investment opportunity. The building encompasses a substantial 45,904 square feet, previously utilized as a medical facility. Situated on a generous 5.48-acre lot, the property offers ample space for parking and future expansion. Its B-1 zoning allows for a wide range of potential uses, including office space, medical facilities, residential conversions, or educational institutions. The building's robust construction ensures durability and longevity. The property's advantageous location offers convenient access to local amenities and boasts the added benefit of backing onto the picturesque Lincoln Park, providing a tranquil and appealing setting. The asking price has been reduced to facilitate a swift sale, making this an attractive proposition for discerning investors seeking a sizable commercial property with significant upside potential. This is a rare opportunity to acquire a well-built, versatile property in a desirable location, ready for its next chapter. Serious inquiries are encouraged.

• CAP approach

  CAP return

  Valuation

  6%

  $9,393,650

  6.5%

  $8,671,060

  7%

  $8,051,700

• Comparable approach

  Method

  Valuation

  Relative Method

  $4,660,320

  Geo Method

  $5,979,000

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $17,616,600

  Retail / Commercial

  $8,926,960

  Mixed-Use / Specialty

  $8,811,020

  Hospitality / Lodging

  $6,354,840

  Institutional / Educational

  $9,129,840

  Residential Income

  $10,681,900

  Multifamily

  $13,277,700

  Automotive / Energy

  $7,825,580

  Parking / Income-Based Land

  $2,783,620

  Restaurant / Food Service

  $4,403,150

  Healthcare / Senior Housing

  $9,121,800

Location Insight

City

Manitowoc

County

Manitowoc

State

Wisconsin

Latitude

44.113

Longitude

-87.6548

CBSA code

31820

CBSA name

MANITOWOC, WI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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