Flex Space with Fenced
New
For Sale
Contact for pricing
2837 Lathrop Avenue, Racine, WI 53405
I-1-zoned space combines warehouse, office, and work areas with a secured outdoor area.
Property Size4,383 SF
Price / SF$0.86
Days on Market6
Property Features for 2837 Lathrop Avenue
General Information
Standard status
Active
Size
4,383 SF
Total Parking Spaces
20
Property subtype
Commercial
Zoning
I-1
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Building Details
Building Size
4,383 SF
Year Built
1964
Listing Agency:
Realty One Group Boardwalk
(262) 586-7900
Listed By:
Mayra De Leon
(262) 298-8400
Source:
Coactionrealestate
Added: Oct 19
Changed: Oct 23
Last Checked: Oct 23 at 5:09PM
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 One Group Boardwalk
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Investment Insights
Based on property information with market context.
This 4,383-square-foot flex property, built in 1964, includes warehouse space, a private office, a waiting area, two bathrooms, a garage door, and additional room for work or storage. A fenced outdoor area provides space for equipment, materials, vehicles, or business operations. The property is zoned I-1.
Located at 2837 Lathrop Avenue in Racine, the property offers access to major roads and surrounding commercial areas.
Located at 2837 Lathrop Avenue in Racine, the property offers access to major roads and surrounding commercial areas.
Key Highlights
- 4,383 square feet of flex space
- I‑1 zoning
- Warehouse, private office, waiting area, and additional work or storage space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$21,299
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,980
$426.0K
Cap Rate 7%
$304,271
$304.3K
Cap Rate 9%
$236,656
$236.7K
Market Conditions
NOI Build-Up for 4,383 SF
Gross rent
$34.2K $7.80/SF
− Vacancy
−$3.8K −$0.86/SF
EGI
$30.4K $6.94/SF
− OpEx
−$9.1K −$2.08/SF
NOI
$21.3K $4.86/SF
Area
Racine County, WI
Vacancy
11.00%
Lease Rate
$7.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$425,980
Cap Rate 7%
$304,271
Cap Rate 9%
$236,656
Alternative Uses
Best Use
Flex RnD
$552.7K
$483.6K – $644.8K
NOI $38,686 @ 7.0% cap · market cap 1,031.63%
Second Best
Warehouse
$369.5K
$323.3K – $431.1K
NOI $25,863 @ 7.0% cap · market cap 689.68%
Theoretical Best
Office A
$1.05M
$922.3K – $1.23M
NOI $73,782 @ 7.0% cap · market cap 1,967.52%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
494
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 53405, WI
25,561
Population
11,509
Households
2.2
Avg Household Size
39
Median Age
26%
College-Educated
90%
High-School Grad
6.6 sq mi
ZIP Area
3,873
Density / Sq Mi
$68,339
Median Household Income
$40,162
Median Earnings
$946
Median Rent
$173,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - I-1-zoned space combines warehouse, office, and work areas with a secured outdoor area.
Where is this flex space located?
The property is located at 2837 Lathrop Avenue Racine, WI.
What are key features of this property?
This property features: 4,383 square feet of flex space; I‑1 zoning; Warehouse, private office, waiting area, and additional work or storage space
