Building Details

Year Built 1974

Listing Agency: RE/MAX Newport

Listed By: Renee Schoening Show Phone

Source: Jwregwi

Added: Aug 6 Changed: Oct 5 Last Checked: Oct 7 at 5:10PM

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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 self-storage facility occupies a former Naval Base and includes 90 storage units, with additional room for indoor and outdoor storage. The property also contains a main office area, five other potential office spaces, an upstairs studio apartment, and two and one-half bathrooms. A rooftop deck accessible from the apartment provides views toward Lake Michigan.

Built in 1974, the property is located at 212 Hamilton St in Racine, Wisconsin, just blocks from Lake Michigan. The operating business may be purchased separately. The ownership history includes 17 years of steady business activity and a contract with UHAUL.

Key Highlights

• 90‑unit storage facility with additional indoor and outdoor storage space
• Former Naval Base converted for self‑storage use
• Main office plus 5 additional potential office spaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$236,810

Cap Rate

8.17%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,736,200 $4.7M

Cap Rate 7%

$3,383,000 $3.4M

Cap Rate 9%

$2,631,222 $2.6M

Market Conditions

NOI Build-Up for 24,382 SF

Gross rent

$365.7K $15.00/SF

− Vacancy

−$27.4K −$1.13/SF

EGI

$338.3K $13.88/SF

− OpEx

−$101.5K −$4.16/SF

NOI

$236.8K $9.71/SF

Area

Racine County, WI

Vacancy

7.50%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$4,736,200

Cap Rate 7%

$3,383,000

Cap Rate 9%

$2,631,222

Alternative Uses

Best Use

Self Storage

$3.38M

$2.96M – $3.95M (±1% cap)

NOI $236,810 @ 7.0% cap · market cap 8.17%

Second Best

Warehouse

$2.06M

$1.80M – $2.40M (±1% cap)

NOI $143,871 @ 7.0% cap · market cap 4.96%

Theoretical Best

Office A

$5.86M

$5.13M – $6.84M (±1% cap)

NOI $410,437 @ 7.0% cap · market cap 14.15%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

U-Haul Neighborhood Dealer Car Rental Facility North Beach Storage Storage Facility

Suggested Use

Top Pick Dental Office (Bike/Boat/Book/etc) Store Skin Care Clinic Furniture & Home Goods Acupuncture Catering Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

679

Businesses Nearby

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 Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Questions? Ask Rey

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What type of property is this? Where is this self storage facilities located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Self storage facility - Established storage operation with 90 units, additional office areas, an upstairs studio apartment, and a rooftop deck overlooking Lake Michigan.

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 $2,900,000.

What are key features of this property?

This property features: 90‑unit storage facility with additional indoor and outdoor storage space; Former Naval Base converted for self‑storage use; Main office plus 5 additional potential office spaces