Multi-Use Rental
For Sale
$299,000
1318 N Main STREET Unit 1324, Racine, WI 53402
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 Market336
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
Changed: Jul 21
Last Checked: Aug 5 at 5:05AM
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
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 authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
823
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- Rosanthorn Herbs and Acupuncture — 611 7th St, Racine, WI 53403
Frequently Asked Questions
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
