The property will “pass into the possession of a reputable local buyer.”
MANITOWOC – Harbor Town Inn & Suites recently sold for $3.4 million.
The 80-room hotel, 4004 Calumet Ave., is an independently owned and operated property. Built in 1978 and recently renovated, the hotel offers amenities such as a business center, game room, on-site laundry and an outdoor patio.
“We were able to achieve a sales price that was very close to list price without officially going to market,” said Jared Plamann, senior associate at Marcus and Millichap, in a press release.
Marcus & Millichap is the commercial real estate brokerage firm that oversaw the sale.
“This is a property with a long history that rarely comes on the market,” he said. “It has been in the family for 34 years, so it was all the more special to work with the seller and see the property pass to a local, respectable buyer.”
Plamann said there remains demand for hotels, particularly independent properties where new buyers may see potential for brand transformation.
The press release also touted the hotel’s location right off Interstate 43 near Lake Michigan, with stores like Walmart, Aldi and Starbucks nearby.
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Do you have a tip, comment or question for Streetwise Manitowoc? Contact reporter Patti Zarling at [email protected] or call 920-606-2575. Follow her on X @PGPattiZarling and on Instagram @PGPatti.
