Mixed-Use Retail and
1116 Grove AVENUE Racine, WI 53405
1116 Grove AVENUE, Racine, WI, 53405
$419,900
For Sale
$419,900
Property features two retail spaces on the ground level and two apartments above with side-and-rear parking.
Property Size4,000 SF
Price / SF$104.98
Days on Market119
Property Features for 1116 Grove AVENUE
General Information
- Standard status
- Active
- Size
- 4,000 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1969
Listing agency
Realty ONE Group Boardwalk
(414) 651-7062
Listed by
Darryl Heyden
(414) 651-7062
Source
Xome
Added: Mar 26 Updated: Jul 21 at 12:26PM Checked: Jul 21 at 12:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Realty ONE Group Boardwalk
Investment Insights
Based on property information with market context.
This mixed-use property is centrally located and offers income-producing space with two retail business spaces on the first floor and two apartments on the second floor. The first-floor tenants are currently operating as a barber shop and a beauty shop, while both second-floor apartments are occupied. One first-floor unit is vacant and listed separately (MLS #1939695), and it is expected to be shown with the lower units.
There is ample parking on the side and rear of the building. The roof is approximately two years old and includes a 20-year transferable warranty for materials and labor.
The property is configured as a duplex-style setup above retail, with all four units available as separate income opportunities depending on occupancy at the time of closing.
There is ample parking on the side and rear of the building. The roof is approximately two years old and includes a 20-year transferable warranty for materials and labor.
The property is configured as a duplex-style setup above retail, with all four units available as separate income opportunities depending on occupancy at the time of closing.
Key Highlights
- Mixed‑use building with 2 retail business spaces on the ground level and 2 apartments on the second floor
- Potential income from all 4 units in excess of $4,700/month, with a barber shop and beauty shop on the first floor
- Roof is about 2 years old and includes a 20‑year transferable warranty for materials and labor
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $72.0k | $18.00 |
| − Vacancy | −$2.9k | −$0.72 |
| EGI | $69.1k | $17.28 |
| − OpEx | −$31.1k | −$7.78 |
| NOI | $38.0k | $9.50 |
4,000 SF · lease $18.00/SF/yr · vacancy 4.00% · expense 45.00%
Alternative Uses
Best Use
Multifamily LT 5
$623.4K
$545.5K – $727.3K
NOI $43,636 @ 7.0% cap · market cap 10.39%
Second Best
Retail
$581.4K
$508.7K – $678.3K
NOI $40,698 @ 7.0% cap · market cap 9.69%
Theoretical Best
Office A
$961.9K
$841.7K – $1.12M
NOI $67,334 @ 7.0% cap · market cap 16.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Dick Flatley Master ...
Barber Shop
Blacktop Barbershop
Barber Shop
Executive Barbers
Barber Shop
Similar For Sale Nearby
FAQs
What type of property is this?
Duplex - Property features two retail spaces on the ground level and two apartments above with side-and-rear parking.
Where is this duplex located?
The property is located at 1116 Grove AVENUE Racine, WI.
What is the asking price?
The asking price for this property is $419,900.
What are key features of this property?
This property features: Mixed‑use building with 2 retail business spaces on the ground level and 2 apartments on the second floor; Potential income from all 4 units in excess of $4,700/month, with a barber shop and beauty shop on the first floor; Roof is about 2 years old and includes a 20‑year transferable warranty for materials and labor
