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87 Division St 17,274 SF Retail Building Manistee, MI 49660 $500,000 ($28.95/SF)
Executive Summary
Positioned in the heart of Downtown Manistee, this unique offering includes three interconnected commercial buildings spanning half a city block, with frontage on Cypress Street (US-31), Division Street, and Clay Street. Formerly home to a long-standing hardware store, the property features approximately 17,000 square feet of retail space, complemented by two additional buildings that provide flexibility for a wide range of uses. With its prominent location along a primary corridor and strong visibility, the property is ideally suited for redevelopment, adaptive reuse, or a multi-tenant investment concept. The surrounding area is a vibrant mix of local shops, restaurants, and essential services, drawing consistent traffic from year-round residents, seasonal visitors, and Northern Michigan vacationers. An upper-level approximately 1,500 square foot three-bedroom apartment offers additional potential for residential income or owner occupancy, with a spacious layout and private covered deck, ready for renovation and customization. Just minutes from Lake Michigan beaches, the marina, and the Riverwalk, this property presents a rare opportunity to reimagine a significant footprint in one of Northern Michigan’s most charming and active downtowns.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Freestanding
Building Size
17,274 SF
Building Class
C
Year Built
1920
Price
$500,000
Price Per SF
$28.95
Tenancy
Single
Building Height
1 Story
Building FAR
0.78
Lot Size
0.51 AC
Opportunity Zone
Yes
Moderately walkable
70/100
Exceptionally drivable
100/100
Fairly bikeable
50/100
Nearby Major Retailers
Property Taxes
| Parcel Number | 51-448-725-09 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $161,600 |
Property Taxes
Parcel Number
51-448-725-09
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$161,600
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87 Division St