Waterfront - New Construction
145 WATER, Alpena, MI
$ 2,500,000
Property Attributes
  • MLS#20221018506
  • TypeSingle Family
  • CountyALPENA
  • CityAlpena
  • AreaAlpena
  • Zip497 072
  • Style
  • Year Built1911
  • Taxes$ 6150
  • Price$ 2,500,000
  • Bedrooms9
  • Full Bathrooms4
  • Half Bathrooms1
  • Sqr Footage10000
  • Lot Size0.63 Acres
Data Source:
Bay County REALTOR® Association
Property Description

PRICED $1,000,000 BELOW APPRAISED VALUE AND THOUSANDS OF DOLLARS IN RESTORATION GRANTS ARE STILL AVAILABLE! Built from 1910-12 this building features solid 24” to 30” Indiana Bedford Stone, this 2-story retired Federal Building (Former U.S Post Office) offers so many possibilities. You will be amazed from the minute you walk in by grand architectural detail with domed ceilings and marble floors. At the end of the front lobby is a grand staircase, covered in travertine marble, which leads to the second floor with a long hallway with terrazzo floors all of which are not found in today’s new construction. Located on an oversized lot (0.63 acres), the property includes over 165’ of DEEDED deep-water frontage on the south bank of the Thunder Bay River. Over the last several years, the current owner has periodically allowed large tour boats and barges to take advantage of the deep draft and moor on the sea wall. No other private property is able to offer this great and unique asset. From the rooftop, you have a spectacular breathtaking unimpeded view of the waterfront, draw bridge, downtown Alpena, Alpena Marina, and Thunder Bay/Lake Huron. For the last 10 years, the City of Alpena has approved the property to be used as a private residence, but it is also zoned for commercial use. With over 15,000 sq.ft. (including a full unfinished basement), the possibilities are endless as there are thousands of dollars of grants available to help completely restore this building back to its original glory. This is a perfect venue for a future Restaurant, Wedding Chapel, Catering Hall, Bed & Breakfast, Office Building, and Medical Building. Zoned Residential and Commercial. There are multiple rooms on the 2nd floor that could be converted to bedrooms and some on the 1st floor. Total of 5 bathrooms, and 4 mop sinks. 1st floor has a total of 5388 sq.ft, 2nd floor has 4612 sq.ft., and the basement has 5428 sq.ft.

Price History
11/25/2022 Listed $2,750,000
12/16/2022 10% - $2,500,000

General Features

Financial Terms Cash, Conventional


  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Single Family Average in 497 072

AVG $2.5M
AVG $6,150
Year Built
AVG 1911
AVG 67
Data Provided by Walkscore ® not using MLS data