Tavern with Upstairs
New
For Sale
$575,000
1201 N Main St, Racine, WI 53402
Y, Racine, WI
Property Size3,774 SF
Lot Size0.13 Acres
Price / SF$152.36
Days on Market1
Property Features for 1201 N Main St
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B2
Directions
On corner of Hwy 32 and Hamilton.
Standard status
Active
APN
02446000
Size
3,774 SF
Lot size
0.13 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5743
Amenities
stage
Building Details
Year built
1922
Architectural style
Other
Listing Agency:
RE/MAX Newport · RE/MAX International
(262) 632-9990
Listed By:
Paxton Friedrich · License #94323-94
(262) 880-7284
Added: Sep 4
Last Checked: Sep 4 at 4:06PM
MLS# 1979166
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.
Investment Insights
Based on property information with market context.
Built in 1922, this 3,774-square-foot tavern property combines an established bar layout with features suited to food service and live entertainment. The first floor includes a fully operational kitchen, original bar, and dedicated stage area. A two-bedroom apartment occupies the second floor, adding residential space within the building’s overall configuration.
The property sits on a 0.13-acre lot at 1201 N Main St in Racine, Wisconsin, and carries B2 zoning. Its combination of bar, kitchen, performance, and apartment components creates a distinctive mixed-use arrangement within a longstanding commercial building.
The property sits on a 0.13-acre lot at 1201 N Main St in Racine, Wisconsin, and carries B2 zoning. Its combination of bar, kitchen, performance, and apartment components creates a distinctive mixed-use arrangement within a longstanding commercial building.
Key Highlights
- 3,774‑square‑foot tavern property built in 1922
- Fully operational kitchen and original bar
- Full stage for live music 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
Lease Details
Turnkey business
Opportunity
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 - Established bar property with a commercial kitchen, 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 and other entertainment
