90-Unit Self Storage
212 Hamilton St, Racine, WI 53402
For Sale
$2,500,000
Y, Racine, WI
Property Size24,382 SF
Lot Size1.53 Acres
Price / SF$102.53
Days on Market122
Property Features for 212 Hamilton St
General Information
Property type
Property subtype
Zoning
Directions
Standard status
APN
Size
Lot size
Additional Details
Currently Operating
Property Use
Taxes and HOA fees
Tax Year
Tax Annual Amount
Building Details
Year built
Architectural style
Listing Agency:
RE/MAX Newport · RE/MAX International
(262) 632-9990
Listed By:
Renee Schoening
(262) 900-8753
Added: Jul 14
Changed: Nov 9
Last Checked: Nov 12 at 12:06AM
MLS# 1971567
Copyright © 2026 Metro MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This self storage property occupies 1.53 acres and contains 24,382 square feet. The facility includes 90 storage units, with additional capacity for both indoor and outdoor storage. Office improvements include a primary office area and five additional spaces that could support expansion or varied operational needs. An upstairs studio apartment adds another functional component, while the office and apartment areas together provide 2 1/2 bathrooms.
Built in 1974, the property is zoned I1 RES. industr and is located just blocks from Lake Michigan in Racine. The apartment level opens to a rooftop deck with lake views. The property was converted from a former Naval Base and has supported a storage operation that included a UHAUL contract. An ongoing business may be purchased separately.
Built in 1974, the property is zoned I1 RES. industr and is located just blocks from Lake Michigan in Racine. The apartment level opens to a rooftop deck with lake views. The property was converted from a former Naval Base and has supported a storage operation that included a UHAUL contract. An ongoing business may be purchased separately.
Key Highlights
- 90 storage units within a 24,382‑square‑foot facility
- 1.53‑acre property with additional indoor and outdoor storage capacity
- Five additional office spaces plus a primary office area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$143,871
Cap Rate
5.75%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,877,420
$2.9M
Cap Rate 7%
$2,055,300
$2.1M
Cap Rate 9%
$1,598,567
$1.6M
Market Conditions
NOI Build-Up for 24,382 SF
Gross rent
$190.2K $7.80/SF
− Vacancy
−$20.9K −$0.86/SF
EGI
$169.3K $6.94/SF
− OpEx
−$25.4K −$1.04/SF
NOI
$143.9K $5.90/SF
Area
Racine County, WI
Vacancy
11.00%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,877,420
Cap Rate 7%
$2,055,300
Cap Rate 9%
$1,598,567
Alternative Uses
Best Use
Self Storage
$3.38M
$2.96M – $3.95M
NOI $236,810 @ 7.0% cap · market cap 9.47%
Second Best
Warehouse
$2.06M
$1.80M – $2.40M
NOI $143,871 @ 7.0% cap · market cap 5.75%
Theoretical Best
Office A
$5.86M
$5.13M – $6.84M
NOI $410,437 @ 7.0% cap · market cap 16.42%
Zoning and permitted uses should be independently verified with authorities.
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Trade Area within ½ mile
679
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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
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Self storage facility - Converted former base property with office space, an upstairs studio apartment, and room for additional storage uses.
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 $2,500,000.
What are key features of this property?
This property features: 90 storage units within a 24,382‑square‑foot facility; 1.53‑acre property with additional indoor and outdoor storage capacity; Five additional office spaces plus a primary office area
