Tavern with 2-Bedroom
New
For Sale
$575,000
1201 N Main St, Racine, WI 53402
Two-level tavern property with a working kitchen, original bar, entertainment stage, and residential space above.
Property Size3,774 SF
Price / SF$152.36
Days on Market1
Property Features for 1201 N Main St
General Information
Standard status
Active
Size
3,774 SF
Building Details
Year Built
1922
Listing Agency:
RE/MAX Newport
Listed By:
Paxton Friedrich · License #94323-94
(262) 880-7284
Source:
Jwregwi
Added: Sep 8
Last Checked: Sep 8 at 2:40PM
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 RE/MAX Newport
Investment Insights
Based on property information with market context.
Built in 1922, this 3,774-square-foot tavern property at 1201 N Main St in Racine includes a functioning commercial kitchen, an original bar, and a dedicated stage area. The entertainment component supports live performances, open mic programming, comedy, and other uses described for the space.
A two-bedroom apartment occupies the second floor, adding an on-site residential component to the bar and entertainment operation. The property combines hospitality, event, and living areas within one building.
A two-bedroom apartment occupies the second floor, adding an on-site residential component to the bar and entertainment operation. The property combines hospitality, event, and living areas within one building.
Key Highlights
- 3,774‑square‑foot tavern property built in 1922
- Fully operational kitchen and original bar
- Full stage for live music, open mic nights, comedy, and other entertainment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$52,389
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
9.11%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,047,780
$1.0M
Cap Rate 7%
$748,414
$748.4K
Cap Rate 9%
$582,100
$582.1K
Market Conditions
NOI Build-Up for 3,774 SF
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.
Gross rent
$72.5K $19.20/SF
− Vacancy
−$2.6K −$0.69/SF
EGI
$69.9K $18.51/SF
− OpEx
−$17.5K −$4.63/SF
NOI
$52.4K $13.88/SF
Area
Racine County, WI
Vacancy
3.60%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,047,780
Cap Rate 7%
$748,414
Cap Rate 9%
$582,100
Alternative Uses
Best Use
Specialty Retail
$748.4K
$654.9K – $873.2K
NOI $52,389 @ 7.0% cap · market cap 9.11%
Second Best
Mixed Use
$558.0K
$488.3K – $651.0K
NOI $39,061 @ 7.0% cap · market cap 6.79%
Theoretical Best
Office A
$907.6K
$794.1K – $1.06M
NOI $63,530 @ 7.0% cap · market cap 11.05%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
823
Businesses Nearby
6k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Hotels & Casinos 67%
Dining 17%
Shops & Services 16%
DoubleTree by Hilton Hotel Racine Harbourwalk
Hotels & Casinos
3,969 visits/mo
0.5 miles
Jimmy John's
Dining
1,044 visits/mo
0.3 miles
Firestone Complete Auto Care
Shops & Services
953 visits/mo
0.1 miles
Demographics for 53402, WI
33,621
Population
15,660
Households
2.1
Avg Household Size
41
Median Age
33%
College-Educated
92%
High-School Grad
20.0 sq mi
ZIP Area
1,681
Density / Sq Mi
$74,125
Median Household Income
$47,838
Median Earnings
$1,049
Median Rent
$224,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- The Pub on 6th — 910 6th St, Racine, WI 53403
- Kelly's — 910 W 6th St, Racine, WI 53403
- Pepi's Pub and Grill — 618 6th St, Racine, WI 53403
- 509 Club — 511 6th St, Racine, WI 53403
- Blue Rock Lounge — 306 6th St, Racine, WI 53403
Frequently Asked Questions
What type of property is this?
Bar & Pub - Two-level tavern property with a working kitchen, original bar, entertainment stage, and residential space above.
Where is this bar & pub located?
The property is located at 1201 N Main St Racine, WI.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: 3,774‑square‑foot tavern property built in 1922; Fully operational kitchen and original bar; Full stage for live music, open mic nights, comedy, and other entertainment
