1022 Washington St, Manitowoc, WI 54220
2,251 SF | Retail Building | Manitowoc, WI 54220 | $430,000 ($191/SF) | 16.26% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $430,000
- Sale Condition
- 1031 Exchange
- Property Type
-
Retail
- Square Feet
- 2,251 SF
- Price / Square Foot
- $191
Listing Contacts
CJ Brill
Verified Profile
- Property Info
Property Overview
The subject property offers a rare opportunity for a developer or owner-user to acquire a large lot of land in downtown Manitowoc, WI. Pizza Hut has occupied the 2,251 square foot building for 35+ years and will be vacating December 31st, 2024 (Landlord has the option to terminate early). Drive-thru's are permitted at the site. The 0.55 AC lot is situated on the hard corner on Washington St and 11th St with daily traffic counts over 9,000 vehicles per day. Subject property is located in a TIF Zone.
Directly across the street is Manitowoc’s public park which is a central hub for the local community. Festivals, movies, fairs, concerts and much more are frequently held there which drives foot traffic to the immediate area. On top of that, the city recently raised funds to invest in the infrastructure of downtown Manitowoc. The city is the economic engine for the immediate region and is a vibrant, waterfront community on Lake Michigan just 35 minutes south of Green Bay, WI. An upscale six story, 81-unit apartment complex, “River North Apartments,” was just constructed only 0.3 miles from the subject property was completed in the fall of 2022 which drives traffic and growth to the immediate area.
Broker of Record:
Daniel Walsh | WI Lic# 58230-90
Directly across the street is Manitowoc’s public park which is a central hub for the local community. Festivals, movies, fairs, concerts and much more are frequently held there which drives foot traffic to the immediate area. On top of that, the city recently raised funds to invest in the infrastructure of downtown Manitowoc. The city is the economic engine for the immediate region and is a vibrant, waterfront community on Lake Michigan just 35 minutes south of Green Bay, WI. An upscale six story, 81-unit apartment complex, “River North Apartments,” was just constructed only 0.3 miles from the subject property was completed in the fall of 2022 which drives traffic and growth to the immediate area.
Broker of Record:
Daniel Walsh | WI Lic# 58230-90
Property Details
- Class
- C
- Year Built
- 1971
- Stories
- 1
- Lot Size (sq. ft)
- 23,958 SF
Highlights
- Pizza Hut vacating December 2024 after 35+ year occupancy. 16%+ cap on current income
- Located in coveted TIF Zone
- Large 0.55 acre corner lot
- Ideal downtown location on city's main thoroughfare with 9k vehicles per day
- Upscale, 6 story, 81 unit apartment complex just constructed 0.3 miles from the subject property
- Drive-thru permitted
Nearby Properties
Similar Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].