Building Details

Year Built 1922

Listing Agency: RE/MAX Newport

Listed By: Paxton Friedrich · License #94323-94 Show Phone

Source: Jwregwi

Added: Sep 8 Changed: Oct 13 Last Checked: Oct 7 at 5:08PM

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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.

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 / Yr

$52,389

Cap Rate

9.11%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,047,780 $1.0M

Cap Rate 7%

$748,414 $748.4K

Cap Rate 9%

$582,100 $582.1K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,774 SF

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 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 (±1% cap)

NOI $52,389 @ 7.0% cap · market cap 9.11%

Second Best

Mixed Use

$558.0K

$488.3K – $651.0K (±1% cap)

NOI $39,061 @ 7.0% cap · market cap 6.79%

Theoretical Best

Office A

$907.6K

$794.1K – $1.06M (±1% cap)

NOI $63,530 @ 7.0% cap · market cap 11.05%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Contact the owner directly Get the owner's phone numbers and email

Open Analytics

Current Use

Gibby's BBQ at George's ... Restaurant George's Encore Bar & Pub George's Food and Spirits Music Venue

Suggested Use

Top Pick Dental Office (Bike/Boat/Book/etc) Store Catering Service Acupuncture Furniture & Home Goods Pet Grooming Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

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

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

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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