78-Unit Loft-Style Apartment
For Sale
$10,000,000
134 Main St, Racine, WI 53403
Downtown apartment property with varied floorplans, in-unit laundry, and resident amenity spaces.
Property Size78,748 SF
Price / SF$126.99
Days on Market72
Property Features for 134 Main St
General Information
Standard status
Active
Size
78,748 SF
Total Parking Spaces
63
Elevators
Yes
Property subtype
Multi-Family
Additional Details
Multifamily Units
78
Amenities
In-Unit Laundry
Extra Large Closets
Upgraded Appliances
Dishwashers
Central Air
Media Room
Fitness Center
Clubhouse
Picnic Area
Elevator
Building Details
Year Built
1890
Construction
loft-style
Listing Agency:
Realty Executives Integrity~Brookfield
Listed By:
Brian E Roslawski · License #9054419
(414) 241-0123
Source:
Nikolicgroup
Added: Aug 8
Changed: Oct 4
Last Checked: Oct 7 at 12:58PM
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 Realty Executives Integrity~Brookfield
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Investment Insights
Based on property information with market context.
This 78-unit apartment building at 134 Main St offers loft-style residences with one-, two-, and three-bedroom layouts. Apartments include in-unit laundry, oversized closets, upgraded appliances, dishwashers, and central air. The property contains 78,748 square feet and was built in 1890.
Resident-oriented common areas include a media room, fitness center, clubhouse, picnic area, and elevator. The sale also includes two additional parcels that provide 63 parking spaces. Located in downtown Racine, the property combines a range of apartment configurations with on-site amenities and dedicated parking.
Resident-oriented common areas include a media room, fitness center, clubhouse, picnic area, and elevator. The sale also includes two additional parcels that provide 63 parking spaces. Located in downtown Racine, the property combines a range of apartment configurations with on-site amenities and dedicated parking.
Key Highlights
- 78‑unit apartment building with one-, two-, and three‑bedroom floorplans
- 78,748 square feet; built in 1890
- Loft‑style apartments with in‑unit laundry, central air, and upgraded appliances
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$748,421
Cap Rate
7.48%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,968,420
$15.0M
Cap Rate 7%
$10,691,729
$10.7M
Cap Rate 9%
$8,315,789
$8.3M
Market Conditions
NOI Build-Up for 78,748 SF
Gross rent
$1.42M $18.00/SF
− Vacancy
−$56.7K −$0.72/SF
EGI
$1.36M $17.28/SF
− OpEx
−$612.3K −$7.78/SF
NOI
$748.4K $9.50/SF
Area
Racine County, WI
Vacancy
4.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$14,968,420
Cap Rate 7%
$10,691,729
Cap Rate 9%
$8,315,789
Alternative Uses
Best Use
Apartment 5plus
$10.69M
$9.36M – $12.47M
NOI $748,421 @ 7.0% cap · market cap 7.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$18.94M
$16.57M – $22.09M
NOI $1,325,612 @ 7.0% cap · market cap 13.26%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
78
Residential units
Location Intelligence
Trade Area within ½ mile
1,284
Businesses Nearby
Explore this area
Business Placement
Demographics for 53403, WI
26,269
Population
11,876
Households
2.2
Avg Household Size
38
Median Age
23%
College-Educated
88%
High-School Grad
10.2 sq mi
ZIP Area
2,575
Density / Sq Mi
$58,274
Median Household Income
$37,130
Median Earnings
$1,029
Median Rent
$159,100
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Apartment building - Downtown apartment property with varied floorplans, in-unit laundry, and resident amenity spaces.
Where is this apartment building located?
The property is located at 134 Main St Racine, WI.
What is the asking price?
The asking price for this property is $10,000,000.
What are key features of this property?
This property features: 78‑unit apartment building with one-, two-, and three‑bedroom floorplans; 78,748 square feet; built in 1890; Loft‑style apartments with in‑unit laundry, central air, and upgraded appliances
