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The Inn On Maritime Bay, Ascend Hotel 101 Maritime Dr 109 Room Hotel Manitowoc, WI 54220 For Sale
EXECUTIVE SUMMARY
Opportunity
Leasehold interest in the third-party managed, 109-room Inn on Maritime Bay in Manitowoc, WI
Offered at a significant discount to replacement cost
Available unencumbered of debt and management
Flexible Choice soft-brand affiliation with minimal mandated requirements and the ability to personalize amenities and operations
Current NOI of $600K+ provides walk-in, double-digit cash-on-cash returns for new ownership
Opportunity to enhance performance through hands-on ownership and targeted repositioning within the competitive set
Location
Waterfront location directly on Lake Michigan with panoramic views and walkable access to downtown Manitowoc’s shops, restaurants, and cultural attractions
Proximate to major corporate demand from Manitowoc’s established manufacturing and shipping base, including The Manitowoc Company, Lakeside Foods, and Allstate Rigging
Accessible to leisure demand including the Wisconsin Maritime Museum, Capitol Civic Centre, Lincoln Park Zoo, and seasonal traffic generated by the SS Badger Lake Michigan Carferry, which carries up to 600 passengers and 150 vehicles per crossing between Manitowoc and Ludington, MI
Situated near Aurora Medical Center and Holy Family Memorial, two leading hospitals that together operate more than 120 beds
Supported by educational demand from Lakeshore Technical College and the University of Wisconsin – Green Bay Manitowoc Campus, with Lakeshore Technical College serving more than 8,000 students annually
Convenient regional connectivity via Interstate 43, approximately 40 minutes to Green Bay, 90 minutes to Milwaukee, and 2.5 hours to Chicago
Leasehold interest in the third-party managed, 109-room Inn on Maritime Bay in Manitowoc, WI
Offered at a significant discount to replacement cost
Available unencumbered of debt and management
Flexible Choice soft-brand affiliation with minimal mandated requirements and the ability to personalize amenities and operations
Current NOI of $600K+ provides walk-in, double-digit cash-on-cash returns for new ownership
Opportunity to enhance performance through hands-on ownership and targeted repositioning within the competitive set
Location
Waterfront location directly on Lake Michigan with panoramic views and walkable access to downtown Manitowoc’s shops, restaurants, and cultural attractions
Proximate to major corporate demand from Manitowoc’s established manufacturing and shipping base, including The Manitowoc Company, Lakeside Foods, and Allstate Rigging
Accessible to leisure demand including the Wisconsin Maritime Museum, Capitol Civic Centre, Lincoln Park Zoo, and seasonal traffic generated by the SS Badger Lake Michigan Carferry, which carries up to 600 passengers and 150 vehicles per crossing between Manitowoc and Ludington, MI
Situated near Aurora Medical Center and Holy Family Memorial, two leading hospitals that together operate more than 120 beds
Supported by educational demand from Lakeshore Technical College and the University of Wisconsin – Green Bay Manitowoc Campus, with Lakeshore Technical College serving more than 8,000 students annually
Convenient regional connectivity via Interstate 43, approximately 40 minutes to Green Bay, 90 minutes to Milwaukee, and 2.5 hours to Chicago
PROPERTY FACTS
| Sale Type | Investment | Building Size | 91,506 SF |
| Sale Condition | Business Value Included | No. Rooms | 109 |
| Property Type | Hospitality | No. Stories | 3 |
| Property Subtype | Hotel | Year Built/Renovated | 1985/2005 |
| Building Class | B | Parking Ratio | 1.28/1,000 SF |
| Lot Size | 5.09 AC | Corridor | Interior |
| Zoning | B-3 | ||
| Sale Type | Investment |
| Sale Condition | Business Value Included |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | B |
| Lot Size | 5.09 AC |
| Building Size | 91,506 SF |
| No. Rooms | 109 |
| No. Stories | 3 |
| Year Built/Renovated | 1985/2005 |
| Parking Ratio | 1.28/1,000 SF |
| Corridor | Interior |
| Zoning | B-3 |
AMENITIES
- Pool
- High Speed Internet Access
- Meeting Event Space
- Public Access Wifi
- Smoke-Free
- Hot Tub
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 7 | $194.00 | - |
| Guest Room | 102 | $116.00 | - |
1 1
PROPERTY TAXES
| Parcel Number | 052-000-179-010.00 | Improvements Assessment | $1,994,100 |
| Land Assessment | $0 | Total Assessment | $1,994,100 |
PROPERTY TAXES
Parcel Number
052-000-179-010.00
Land Assessment
$0
Improvements Assessment
$1,994,100
Total Assessment
$1,994,100
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The Inn On Maritime Bay, Ascend Hotel | 101 Maritime Dr
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