Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Five-Unit Investment Property For Sale Title is generated by Realmo AI

    3005 17th Street, Racine, WI 53405

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    $415,000

    Well-maintained five-unit property with income potential and classic charm.

    Type:Multi-Family / Multi-Family
    Property size:
    3,395 SF
    Price / SF:
    $122/SF
    Added:
    Mar 31, 2026
    Days on Market:
    57
    Last Refresh:
    Apr 1 at 8:25 pm

    Property Features for 3005 17th Street

    General Information

    Standard status
    Active
    Size
    3,395 SF
    Property subtype
    Multi-Family / Multi-Family

    Building Details

    Year Built
    1927

    We can help!

    Listing Contact
    Jessica R Smith

    Listing agent Jessica R Smith License #55742-90

    Listing office Shorewest Realtors, Inc.

    Listing date Mar 31, 2026

    Source Compass

    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.

    HighLights

    • Strong income potential from a fully rented 5‑unit building.
    • Convenient location with consistent tenant demand.
    • Each unit has 1 bedroom and 1 bathroom with hardwood floors.
    • Coin‑operated laundry and private storage lockers in the basement provide additional income.
    • Unit 1 features a rare attached sun porch.
    • Solid 1927 construction with key updates.

    Overview

    This well-maintained five-unit investment property offers strong income potential. Constructed in 1927, the property features classic charm. Each unit includes 1 bedroom, 1 bathroom, and hardwood floors. Several units have updated bathrooms and refreshed kitchen flooring. Unit 1, located on the ground floor, features an attached sun porch. The full basement includes a coin-operated washer and dryer for additional income, as well as five private storage lockers, one for each unit. The property is fully rented and located in a convenient location. The property size is 3395 square feet.

    Financial Insights

    Value Estimation Calculated for Apartment 5plus

    Conservative
    $358.5K
    NOI $32,266 @ 9.00% cap · cautious / downside scenario
    Moderate
    $460.9K
    NOI $32,266 @ 7.00% cap · market / base-case scenario
    Aggressive
    $645.3K
    NOI $32,266 @ 5.00% cap · optimistic / upside scenario

    NOI & Cap Rate Calculator

    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.
         Calculated for Apartment 5plus

    Component $ $/SF
    Gross rent $61.1k $18.00
    − Vacancy −$2.4k −$0.72
    EGI $58.7k $17.28
    − OpEx −$26.4k −$7.78
    NOI $32.3k $9.50
    3,395 SF · lease $18.00/SF/yr · vacancy 4.00% · expense 45.00%

    Alternative Use Scenarios

    Best Use
    Apartment 5plus
    $460.9K
    $403.3K – $537.8K (±1% cap)
    NOI $32,266 @ 7.0% cap · market cap 7.77%
    Second Best
    —
    —
    no second resolved use
    Theoretical Best
    Office A
    $816.4K
    $714.4K – $952.5K (±1% cap)
    NOI $57,150 @ 7.0% cap · market cap 13.77%
    Zoning and permitted uses should be independently verified with local authorities.
    Location Intelligence

    Current Use by Public Records

    Apartment buildings

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Daycare Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Racine
    County
    Racine
    State
    Wisconsin
    Longitude
    -87.815228
    Latitude
    42.710565

    Nearby Similar for Sale

    • $349,900
      12,434 SF

      Racine Industrial Building For Sale

      Spacious industrial building suitable for warehousing, distribution, or manufacturing.
      1430 9th St, Racine, WI 53403
      View Details
    • $299,000
      4,547 SF

      Racine Mixed-Use Investment Opportunity

      Versatile property with spa, warehouse, and office spaces for sale.
      1318 N Main St, Racine, WI 53402
      View Details
    • $1,249,900
      71,646 SF

      Racine Commercial Building with Market

      71,646 sq ft building with indoor market and commercial kitchen.
      2210 Rapids Dr, Racine, WI 53404
      View Details
    • $1,249,900
      32,748 SF

      Racine Retail and Flex Gym

      Versatile property with diverse tenants and development potential in Racine.
      2300 Rapids Dr, Racine, WI 53404
      View Details
    • $11,000,000

      Downtown Racine Apartment Building

      78-unit complex with modern amenities and parking.
      134 Main St, Racine, WI 53403
      View Details
    • $206,900

      Income-Generating Duplex in Racine, WI

      Charming duplex perfect for investors or owner-occupants.
      937 Grove Ave, Racine, WI 53405
      View Details
    • $87,900
      2,000 SF

      Racine Duplex Near Lake Michigan

      Spacious duplex near Lake Michigan with full occupancy.
      1124 Lasalle St, Racine, WI 53404
      View Details
    • $1,950,000

      Racine Apartment Building Investment Opportunity

      16-unit apartment buildings in prime location with updated amenities.
      3111 Wheelock Dr, Racine, WI 53405
      View Details
    • $399,900
      9,594 SF

      Racine Commercial Property with Apartments

      Fully equipped restaurant, bar, and apartments for sale or lease.
      1521 Washington Ave, Racine, WI 53403
      View Details
    • $244,000

      Racine Duplex with Income Potential

      Two spacious 2-bedroom units, ideal for investors or owner-occupants.
      1701 Edgewood Ave, Racine, WI 53404
      View Details
    • $885,000
      1 SF

      Racine Retail Building on Douglas

      11,316 SF building on 1.35 acre lot for sale.
      3108 Douglas Avenue, Racine, WI, 53402
      View Details
    • $269,900

      Racine Duplex with Updated Units

      Two updated units, each with three bedrooms and one bath.
      1637 Edgewood Ave, Racine, WI 53404
      View Details

    FAQs

    What type of property is this?
    Apartment building - Well-maintained five-unit property with income potential and classic charm.
    Where is this apartment building located?
    The property is located at 3005 17th Street Racine, WI.
    What is the asking price?
    The asking price for this property is $415,000.
    What are key features of this property?
    This property features: Strong income potential from a fully rented 5‑unit building.; Convenient location with consistent tenant demand.; Each unit has 1 bedroom and 1 bathroom with hardwood floors.
    (262) 488-5200
    We can help!
    Listing Contact
    Jessica R Smith
    Real Estate License ID: 55742-90
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3005 17th Street, Racine, WI 53405
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!