Bed & Breakfast with Carriage
For Sale
$850,000
116 10th St, Racine, WI 53403
Two separate residences combine guest accommodations, living areas, and a history of short- and long-term rental use.
Property Size9,635 SF
Price / SF$88.22
Days on Market34
Property Features for 116 10th St
General Information
Standard status
Active
Size
9,635 SF
Total Parking Spaces
8
Property subtype
Commercial
Zoning
OI Office Insti
Taxes and HOA fees
Annual Taxes
$9,518
Building Details
Building Size
9,635 SF
Year Built
1890
Buildings
2
Listing Agency:
Image Real Estate, Inc.
(262) 898-1180
Listed By:
Rose Ann Heller
(262) 989-2345
Source:
Birchwoodpropertiesllc
Added: Oct 2
Changed: Nov 4
Last Checked: Nov 4 at 2:13PM
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 Image Real Estate, Inc.
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Investment Insights
Based on property information with market context.
This two-property bed-and-breakfast offering includes a 9,635-square-foot primary residence and a separate Carriage House. The larger home has three levels, multiple bedrooms, and a mix of shared and private living spaces. Its features include kitchenettes in some bedrooms, a dining area, kitchen, den, and eight fireplaces. The second residence has three bedrooms and two bathrooms.
At 116 10th St in Racine, the properties are zoned OI Office Insti. The primary home was built in 1890. Previous uses have included bed-and-breakfast lodging and events, while the Carriage House has been used for long-term rentals and short-term stays.
At 116 10th St in Racine, the properties are zoned OI Office Insti. The primary home was built in 1890. Previous uses have included bed-and-breakfast lodging and events, while the Carriage House has been used for long-term rentals and short-term stays.
Key Highlights
- 9,635‑square‑foot primary residence with a separate Carriage House
- Primary home spans three levels and includes eight fireplaces
- Several bedrooms have kitchenettes and private bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$55,263
Cap Rate
6.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,105,260
$1.1M
Cap Rate 7%
$789,471
$789.5K
Cap Rate 9%
$614,033
$614.0K
Market Conditions
NOI Build-Up for 9,635 SF
Gross rent
$133.0K $13.80/SF
− Vacancy
−$16.6K −$1.73/SF
EGI
$116.3K $12.08/SF
− OpEx
−$61.1K −$6.34/SF
NOI
$55.3K $5.74/SF
Area
Racine County, WI
Vacancy
12.50%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,105,260
Cap Rate 7%
$789,471
Cap Rate 9%
$614,033
Alternative Uses
Best Use
Mixed Use
$1.42M
$1.25M – $1.66M
NOI $99,722 @ 7.0% cap · market cap 11.73%
Second Best
Apartment 5plus
$1.31M
$1.14M – $1.53M
NOI $91,571 @ 7.0% cap · market cap 10.77%
Theoretical Best
Office A
$2.32M
$2.03M – $2.70M
NOI $162,192 @ 7.0% cap · market cap 19.08%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,179
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 53403, WI
26,269
Population
11,876
Households
2.2
Avg Household Size
38
Median Age
23%
College-Educated
88%
High-School Grad
10.2 sq mi
ZIP Area
2,575
Density / Sq Mi
$58,274
Median Household Income
$37,130
Median Earnings
$1,029
Median Rent
$159,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Similar Off Market Nearby
- Christmas House Bed and Breakfast — 116 10th St, Racine, WI 53403
- Masonic Lodge — 1012 Main St, Racine, WI 53403
Frequently Asked Questions
What type of property is this?
Bed & breakfast - Two separate residences combine guest accommodations, living areas, and a history of short- and long-term rental use.
Where is this bed & breakfast located?
The property is located at 116 10th St Racine, WI.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: 9,635‑square‑foot primary residence with a separate Carriage House; Primary home spans three levels and includes eight fireplaces; Several bedrooms have kitchenettes and private bathrooms
