Converted Office Salon
2932 Northwestern Ave Racine, WI 53404
For Sale
$525,000
Converted single-family home with custom reception and multiple separate rooms, including four upper-level rooms and a waiting area.
Property Size3,624 SF
Price / SF$144.87
Days on Market276
Property Features for 2932 Northwestern Ave
General Information
Standard status
Active
Size
3,624 SF
Listing Agency:
Shorewest Realtors, Inc.
(262) 939-3231
Listed By:
Robin Polzin
(262) 939-3231
Source:
Exprealty
Added: Oct 27, 2025
Changed: Jul 28
Last Checked: Jul 29 at 1:15PM
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 Shorewest Realtors, Inc.
Investment Insights
Based on property information with market context.
This property was originally a single-family home and has been converted to commercial use. The interior includes a custom receptionist area with a gas fireplace, along with several separate rooms configured for the current operation. The upper level provides four separate rooms and a large waiting area, while updates have been made alongside the original character.
The property is located at 2932 Northwestern Ave in Racine, Wisconsin, and features well-manicured grounds and a high-visibility setting.
With its multi-room layout and established salon use, the building is well suited for an owner-operator or investor looking for a distinctive commercial configuration.
The property is located at 2932 Northwestern Ave in Racine, Wisconsin, and features well-manicured grounds and a high-visibility setting.
With its multi-room layout and established salon use, the building is well suited for an owner-operator or investor looking for a distinctive commercial configuration.
Key Highlights
- Converted single‑family home now used for commercial purposes
- Custom receptionist area with a gas fireplace
- Multiple separate rooms set up for current commercial use
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 | $76.1k | $21.00 |
| − Vacancy | −$13.7k | −$3.78 |
| EGI | $62.4k | $17.22 |
| − OpEx | −$15.6k | −$4.31 |
| NOI | $46.8k | $12.92 |
3,624 SF · lease $21.00/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$668.6K
$585.1K – $780.1K
NOI $46,804 @ 7.0% cap · market cap 8.92%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$871.5K
$762.6K – $1.02M
NOI $61,005 @ 7.0% cap · market cap 11.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Similar Off Market Nearby
- Harmony Acupuncture & Wellness now In Balance Acupuncture & Wellness LLC — 2149 N Green Bay Rd, Racine, WI 53405
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Converted single-family home with custom reception and multiple separate rooms, including four upper-level rooms and a waiting area.
Where is this spa & wellness property located?
The property is located at 2932 Northwestern Ave Racine, WI.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Converted single‑family home now used for commercial purposes; Custom receptionist area with a gas fireplace; Multiple separate rooms set up for current commercial use
