Riverside Motel & Marina | 520 Water St
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Riverside Motel & Marina 520 Water St
20 Room Hotel Manistee, MI 49660 $1,800,000 ($90,000/Room)
Investment Highlights
- Boats Slips
- High traffic, visibility and great location
- Manistee River, Lake Michigan
Executive Summary
Here is an opportunity to own a piece of history with the first Motel in Manistee built in 1950 on the Manistee River Channel. This amazing piece of property has approximately 350 feet of frontage on the Riverwalk and 16-30 ft boat slip marina all leading to Lake Michigan with room to expand to 24 slips. All the rooms have been tastefully updated. (please see attached updates) This outstanding location is perfectly positioned between downtown Manistee and the shores of Lake Michigan, offering the best of both worlds. Whether enjoying the charm of the historic downtown area or the natural beauty of the lake, residents and visitors can easily access both within minutes.
Property Facts
| Price | $1,800,000 | Building Size | 5,495 SF |
| Price Per Room | $90,000 | No. Rooms | 20 |
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Hospitality | Year Built/Renovated | 1950/2024 |
| Property Subtype | Hotel | Parking Ratio | 4.19/1,000 SF |
| Building Class | C | Corridor | Exterior |
| Lot Size | 1.60 AC |
| Price | $1,800,000 |
| Price Per Room | $90,000 |
| Sale Type | Investment |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 1.60 AC |
| Building Size | 5,495 SF |
| No. Rooms | 20 |
| No. Stories | 1 |
| Year Built/Renovated | 1950/2024 |
| Parking Ratio | 4.19/1,000 SF |
| Corridor | Exterior |
Amenities
- Pool
- Shuttle Service
- Patio
- Outdoor Pool
- Marina
- Public Access Wifi
Room Mix Information
| Description | No. Rooms | Daily Rate | SF |
|---|---|---|---|
| Suite | 2 | $229.00 | - |
| Guest Room | 18 | $144.00 | - |
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Walk Score ®
Very Walkable (74)
PROPERTY TAXES
| Parcel Number | 51-365-702-01 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $446,000 |
PROPERTY TAXES
Parcel Number
51-365-702-01
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$446,000
zoning
| Zoning Code | C2 |
| C2 |
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Riverside Motel & Marina | 520 Water St
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