Flexible Retail and Office
For Sale
$500,000
850 Racine St, Menasha, WI 54952
A 4,024 sq ft corner property with main-level open shop, office, and a fully finished lower level.
Property Size4,024 SF
Lot Size0.25 Acres
Price / SF$124.25
Days on Market48
Property Features for 850 Racine St
General Information
Standard status
Active
Size
4,024 SF
Lot size
0.25 Acres
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Building Details
Year Built
1983
Listing Agency:
Century 21 Ace Realty
Listed By:
Ryan J. Hawkins · License #9481654
(920) 378-6555
Source:
Smartteamhomes
Added: Jul 21
Changed: Aug 16
Last Checked: Sep 6 at 11:40AM
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 Century 21 Ace Realty
Investment Insights
Based on property information with market context.
This flexible commercial building is well-suited for retail, office, service-based businesses, or contractor use. The main level includes a large open shop/work area with front counter/reception space, an office, and a restroom. A full lower level adds additional finished space with multiple rooms, a kitchen area, a bathroom, and storage.
The property sits on a 0.25-acre corner lot with visibility along Racine St and convenient access to Hwy 441. Onsite paved parking supports customer and employee needs.
Building systems include a poured concrete foundation, forced air heat, and central A/C, along with municipal water and sewer.
The property sits on a 0.25-acre corner lot with visibility along Racine St and convenient access to Hwy 441. Onsite paved parking supports customer and employee needs.
Building systems include a poured concrete foundation, forced air heat, and central A/C, along with municipal water and sewer.
Key Highlights
- 4,024 sq ft commercial building with a flexible layout for retail, office, service‑based, or contractor use
- Main level features large open shop/work area, front counter/reception, office, and restroom
- Fully finished lower level with multiple rooms, kitchen area, bathroom, and storage
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
$45,632
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
9.13%
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%
$912,640
$912.6K
Cap Rate 7%
$651,886
$651.9K
Cap Rate 9%
$507,022
$507.0K
Market Conditions
NOI Build-Up for 4,024 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
$72.4K $18.00/SF
− Vacancy
−$11.6K −$2.88/SF
EGI
$60.8K $15.12/SF
− OpEx
−$15.2K −$3.78/SF
NOI
$45.6K $11.34/SF
Area
Winnebago County, WI
Vacancy
16.00%
Lease Rate
$18.00 /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%
$912,640
Cap Rate 7%
$651,886
Cap Rate 9%
$507,022
Alternative Uses
Best Use
Office B
$651.9K
$570.4K – $760.5K
NOI $45,632 @ 7.0% cap · market cap 9.13%
Second Best
Retail
$552.3K
$483.3K – $644.4K
NOI $38,661 @ 7.0% cap · market cap 7.73%
Theoretical Best
Office A
$868.5K
$760.0K – $1.01M
NOI $60,797 @ 7.0% cap · market cap 12.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
179
Businesses Nearby
Explore this area
Business Placement
Demographics for 54952, WI
27,216
Population
12,412
Households
2.2
Avg Household Size
39
Median Age
25%
College-Educated
93%
High-School Grad
28.1 sq mi
ZIP Area
969
Density / Sq Mi
$67,280
Median Household Income
$44,765
Median Earnings
$906
Median Rent
$190,000
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - A 4,024 sq ft corner property with main-level open shop, office, and a fully finished lower level.
Where is this retail space located?
The property is located at 850 Racine St Menasha, WI.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 4,024 sq ft commercial building with a flexible layout for retail, office, service‑based, or contractor use; Main level features large open shop/work area, front counter/reception, office, and restroom; Fully finished lower level with multiple rooms, kitchen area, bathroom, and storage
