Lannon Stone Realty, LLC
Listed by Lannon Stone Realty, LLC
$1,200,000
Manitowoc Tinsel Factory
Details
Property Type Industrial
Sub Type Distribution, Manufacturing
Square Footage 88,740
Net Rentable (SqFt) 88,740
Tenancy Single
Lease Type NNN
Class C
Year Built 1920
Stories 3
Acreage 0.830
Zoning Light Industrial
Ceiling Height 12
Loading Docks 2
Dock High Doors 2
Ownership Cream Community Development LLC
Sale Condition For sale by owner
Industrial Building with Historical Tax Credits Available
Marketing description
Adaptive Re-Use Project located just blocks from Downtown Manitowoc. This project can serve several needs including Climate Controlled Storage, Data Center Use, Apartments, and Condominiums. Cube Smart has provided a pro forma that shows the need for Climate Control within the area and the NOI has significant upside with minimal build out costs. This can be made available at request along with storage layout plans. The property has several large open spaces that can be converted and because it served as a tinsel producing factory, it has weight bearing floors to accommodate for storage or data center usage. The city has offered an opportunity to create 76 or 81 unit housing project or the development of market rate apartments. They are offering TIF if housing is to be provided. The building also has a historical designation and is offered historical tax credits. Less than 7 minutes from the interstate and minutes away from the port make it ideal for distribution, storage, or data conversions. See attached brochure for more information. Phase 1 and 2 environmental can be provided and show no site contamination.
Investment highlights
554 Climate Controlled Storage Unit Plans Available
TID/TIF with the opportunity to have a bus route in the front
Phase 1 & 2 environmental have been completed
Phase 1 & 2 of historical tax credits have been completed with the final plan needed for the last designation
Lease options are open for negotiation
76 and 81 unit mix available for housing
Mixed use plan for assisted living and affordable housing available at request.
Listing Contacts
Lannon Stone Realty, LLC
Listed by Lannon Stone Realty, LLC
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