Multi-Use Rental
1318 N Main STREET Unit 1324 Racine, WI 53402
1318 N Main STREET Unit 1324, Racine, WI, 53402
$299,000
For Sale
$299,000
Three-part property with an operating spa, plus warehouse and office space, each on separate rental terms.
Property Size4,547 SF
Price / SF$65.76
Days on Market322
Property Features for 1318 N Main STREET Unit 1324
General Information
- Standard status
- Active
- Size
- 4,547 SF
- Property subtype
- General Commercial
Building Details
- Year Built
- 1983
Listing agency
Keller Williams Realty-Milwaukee North Shore
(262) 994-9198
Listed by
Judy Moffatt · License #9436494
(262) 994-9198
Source
Xome
Added: Sep 4, 2025 Updated: Jul 21 at 6:12PM Checked: Jul 21 at 6:12PM
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 Keller Williams Realty-Milwaukee North Shore
Investment Insights
Based on property information with market context.
This multi-use rental building combines three distinct spaces under one roof: a fully operational spa currently rented for $1,400 per month, a warehouse space on a month-to-month lease rented for $900 per month, and an office space rented for $800 per month.
The property is located on Main Street in Racine, with the public remarks indicating walkable access to Lake Michigan and downtown Racine.
The setup supports multiple income streams through the spa, warehouse, and office components, each with its own rental arrangement as described in the remarks.
The property is located on Main Street in Racine, with the public remarks indicating walkable access to Lake Michigan and downtown Racine.
The setup supports multiple income streams through the spa, warehouse, and office components, each with its own rental arrangement as described in the remarks.
Key Highlights
- Three‑part rental property with a fully operational spa, warehouse, and office space
- Spa currently rented at $1,400/month
- Warehouse space on a month‑to‑month lease rented at $900/month
Local Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.5k | $7.80 |
| − Vacancy | −$3.9k | −$0.86 |
| EGI | $31.6k | $6.94 |
| − OpEx | −$4.7k | −$1.04 |
| NOI | $26.8k | $5.90 |
4,547 SF · lease $7.80/SF/yr · vacancy 11.00% · expense 15.00%
Alternative Uses
Best Use
Office B
$838.9K
$734.1K – $978.8K
NOI $58,725 @ 7.0% cap · market cap 19.64%
Second Best
Flex RnD
$573.3K
$501.7K – $668.9K
NOI $40,134 @ 7.0% cap · market cap 13.42%
Theoretical Best
Office A
$1.09M
$956.8K – $1.28M
NOI $76,542 @ 7.0% cap · market cap 25.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
5Kevents.org
Data Center
Unique Rentals
Party Supply Store
Similar For Sale Nearby
Similar Off Market Nearby
- Rosanthorn Herbs and Acupuncture — 611 7th St, Racine, WI 53403
FAQs
What type of property is this?
Spa & wellness property - Three-part property with an operating spa, plus warehouse and office space, each on separate rental terms.
Where is this spa & wellness property located?
The property is located at 1318 N Main STREET Unit 1324 Racine, WI.
What is the asking price?
The asking price for this property is $299,000.
What are key features of this property?
This property features: Three‑part rental property with a fully operational spa, warehouse, and office space; Spa currently rented at $1,400/month; Warehouse space on a month‑to‑month lease rented at $900/month
