Marcus & Millichap sell hotel in Manitowoc for $3.4 million

September 9, 2024

MANITOWOC – Marcus & Millichap – a commercial real estate brokerage firm – recently announced the sale of Harbor Town Inn & Suites, an 80-room hotel property located in Manitowoc, for $3.4 million. 

Jared Plamann, senior associate, said the firm was able to achieve a sale price extremely close to the list without formally going to market.  

“There continues to be significant demand for hotels, particularly independent assets where incoming owners may see the potential for brand conversions,” Plamann said.

Plamann and Jake Erickson, investment specialists in Marcus & Millichap’s Minneapolis office, said they had the exclusive listing to market the property on behalf of the seller and procured the buyer.

Harbor Town Inn & Suites – located at 4004 Calumet Ave. – is an independently operated hotel that was built in 1978 and has since been recently renovated.

The hotel features amenities such as a business center, game room, on-site laundry and outdoor patio.