Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    1001 Delamere Ave Racine, WI 53403

    View on Map
    Sponsored
    For Sale
    $180,000

    Duplex/2 Story - Racine, WI

    Lot size:
    0.09 Acres
    Days on Market:
    2
    Last Refresh:
    Mar 21 at 6:06 pm

    Property Features for 1001 Delamere Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Standard status
    Active
    Zoning
    R3
    Rooms
    Bathroom 1, Bathroom 2, Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    5
    Bathrooms
    2
    APN
    03503000
    Parking
    2
    Parking features
    Driveway
    Appliances
    Dryer, Range, Refrigerator
    Lot size
    0.09 Acres

    Utilities

    Heating system
    Forced Air, Natural Gas

    Building Details

    Year built
    1920
    Floors in Building
    2
    Building materials
    Aluminum Siding
    Architectural style
    Other

    We can help!

    Listing Contact
    Michael L Zoerner
    Michael L Zoerner

    Power, Realtors

    Listing agent Michael L Zoerner License #56989-90

    Listing date Mar 20, 2026

    MLS# 1954612 Listing URL

    Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Racine Two-Unit Investment Property

    This two-unit property in Racine, Wisconsin, is suitable for investment or owner-occupancy. It features two electrical meters and a fenced backyard. Both units are currently occupied by long-term tenants on a month-to-month basis. The property is managed by an off-site management company. The lot size is 0.09 acres and the zoning is R3.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Duplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Racine
    County
    Racine
    State
    Wisconsin
    Longitude
    -87.800527
    Latitude
    42.721286

    Nearby Similar for Sale

    • $299,000
      4,547 SF

      Racine Mixed-Use Investment Opportunity

      Versatile property with spa, warehouse, and office spaces for sale.
      1318 N Main St, Racine, WI 53402
      View Details
    • $349,900
      12,434 SF

      Racine Industrial Building For Sale

      Spacious industrial building suitable for warehousing, distribution, manufacturing, and more.
      1430 9Th St, Racine, WI 53403
      View Details
    • $399,000
      4,140 SF

      Downtown Racine Mixed-Use Building

      Three-story building with retail space and two apartments in Racine.
      530 Main St, Racine, WI 53403
      View Details
    • $1,249,900
      71,646 SF

      Racine Commercial Building with Market

      71,646 sq ft building with indoor market and commercial kitchen.
      2210 Rapids Dr, Racine, WI 53404
      View Details
    • $1,249,900
      32,748 SF

      Racine Retail and Flex Gym

      Versatile property with diverse tenants and development potential in Racine.
      2300 Rapids Dr, Racine, WI 53404
      View Details
    • New
      $399,900
      9,594 SF

      Racine Commercial Property with Apartments

      Fully equipped restaurant, bar, and apartments for sale or lease.
      1521 Washington Ave, Racine, WI 53403
      View Details
    • $11,000,000
      0.88 Acres

      Downtown Racine Apartment Building

      78-unit complex with modern amenities and parking.
      134 Main St, Racine, WI 53403
      View Details
    • $129,900
      0.11 Acres

      Racine Duplex with Income Potential

      Two-unit duplex in Racine with long-term tenants and separate utilities.
      1504 Owen Ave, Racine, WI 53403
      View Details
    • $91,900
      2,000 SF

      Racine Duplex with Rental Income

      Racine duplex with tenants, near Lake Michigan and schools.
      1124 Lasalle St, Racine, WI 53404
      View Details
    • New
      $244,900
      0.07 Acres

      Racine Duplex Near Lake Michigan

      Turn-key duplex near restaurants, entertainment, and Lake Michigan.
      630 Hagerer St, Racine, WI 53402
      View Details
    • $295,000
      Pending

      6,700 SF Stand Alone Building

      Stand alone building with loading dock and overhead door.
      1339 Maiden Ln, Racine, WI 53403
      View Details

    FAQs

    What type of property is this?
    Duplex - Two-unit property in Racine, Wisconsin, ideal for investment or owner-occupancy.
    Where is this duplex located?
    The property is located at 1001 Delamere Ave Racine, WI.
    What is the asking price?
    The asking price for this property is $180,000.
    What are key features of this property?
    This property features: - Two-unit property suitable for investment or owner-occupancy.; - Separate electrical meters for each unit.; - Fully occupied with long-term, month-to-month tenants.
    (262) 654-7653
    Request Owner's contact information
    1001 Delamere Ave Racine, WI 53403
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1001 Delamere Ave
    Racine, WI 53403
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1001 Delamere Ave Racine, WI 53403
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Michael L Zoerner
    Michael L Zoerner
    Real Estate License ID: 56989-90
    Learn More
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!