Self Storage Facility with
212 Hamilton St Racine, WI 53402
212 Hamilton St, Racine, WI, 53402
$3,500,000
For Sale
$3,500,000
Facility offers 90 storage units, additional indoor and outdoor storage, plus a spacious office area with multiple rooms.
Property Size24,382 SF
Price / SF$143.55
Days on Market9
Property Features for 212 Hamilton St
General Information
- Standard status
- Active
- Size
- 24,382 SF
Listing agency
RE/MAX Newport
(262) 900-8753
Listed by
Renee Schoening
(262) 900-8753
Source
Exprealty
Added: Jul 14 Updated: Jul 22 at 12:03AM Checked: Jul 22 at 12:03AM
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 RE/MAX Newport
Investment Insights
Based on property information with market context.
This former naval base has been converted into a self-storage facility featuring 90 storage units, along with additional space designed for both indoor and outdoor storage expansion. The property includes a spacious office area with five other potential office spaces. Between the offices and an upstairs studio apartment, there are 2 1/2 bathrooms.
The upstairs studio apartment includes a rooftop deck area, currently described as offering lake views. The facility is positioned just blocks from Lake Michigan in Racine, WI.
The public remarks also note the potential to purchase the ongoing business separately. The owner has maintained steady operations for the past 17 years, including a contract with UHAUL.
The upstairs studio apartment includes a rooftop deck area, currently described as offering lake views. The facility is positioned just blocks from Lake Michigan in Racine, WI.
The public remarks also note the potential to purchase the ongoing business separately. The owner has maintained steady operations for the past 17 years, including a contract with UHAUL.
Key Highlights
- Former Naval Base storage facility with 90 storage units
- Includes additional indoor and outdoor storage space for expansion
- Spacious office area with multiple rooms plus 5 potential office spaces
Local Financial Insights For Office B
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 | $512.0k | $21.00 |
| − Vacancy | −$92.2k | −$3.78 |
| EGI | $419.9k | $17.22 |
| − OpEx | −$105.0k | −$4.31 |
| NOI | $314.9k | $12.92 |
24,382 SF · lease $21.00/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$4.50M
$3.94M – $5.25M
NOI $314,894 @ 7.0% cap · market cap 9.00%
Second Best
Self Storage
$3.38M
$2.96M – $3.95M
NOI $236,810 @ 7.0% cap · market cap 6.77%
Theoretical Best
Office A
$5.86M
$5.13M – $6.84M
NOI $410,437 @ 7.0% cap · market cap 11.73%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
U-Haul Neighborhood Dealer
Car Rental Facility
North Beach Storage
Storage Facility
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FAQs
What type of property is this?
Self storage facility - Facility offers 90 storage units, additional indoor and outdoor storage, plus a spacious office area with multiple rooms.
Where is this self storage facility located?
The property is located at 212 Hamilton St Racine, WI.
What is the asking price?
The asking price for this property is $3,500,000.
What are key features of this property?
This property features: Former Naval Base storage facility with 90 storage units; Includes additional indoor and outdoor storage space for expansion; Spacious office area with multiple rooms plus 5 potential office spaces
