Two-Level Mixed-Use
For Sale
$339,000
3401 Douglas Ave, Racine, WI 53402
Y, Racine, WI
Property Size2,377 SF
Lot Size0.08 Acres
Price / SF$142.62
Days on Market105
Property Features for 3401 Douglas Ave
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
B1
Directions
Property is on the corner of Douglas and Shoreland
Standard status
Active
APN
276000018215000
Size
2,377 SF
Lot size
0.08 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4077
Amenities
terrazzo flooring
antique copper painted tin ceilings
storefront windows
kitchen
bathroom
shower room
back room
retro kitchen with modern features
dining room
living room with built-in wooden libraries
Building Details
Year built
1928
Architectural style
Other
Listing Agency:
RE/MAX Newport · RE/MAX International
(262) 632-9990
Listed By:
Karen Sorenson · License #5678790
(262) 497-5021
Added: Jun 15
Changed: Aug 19
Last Checked: Sep 27 at 11:06AM
MLS# 1967345
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.
Investment Insights
Based on property information with market context.
This two-story mixed-use property contains 2,377 square feet on a 0.08-acre lot. The first level offers an open commercial area with terrazzo flooring, tin ceilings, storefront windows, a kitchen, bathroom, shower room, and an additional room suited to office, storage, supply, pantry, or bedroom use. The upper level is configured as a three-bedroom apartment with a retro-style kitchen incorporating modern features, dining and living areas, and built-in wooden libraries.
The building was constructed in 1928 and is zoned B1. Recent improvements addressed the foundation, basement walls, roof, siding, sidewalk, and windows. Its configuration supports a combined commercial and residential use in Racine.
The building was constructed in 1928 and is zoned B1. Recent improvements addressed the foundation, basement walls, roof, siding, sidewalk, and windows. Its configuration supports a combined commercial and residential use in Racine.
Key Highlights
- 2,377‑square‑foot mixed‑use building on a 0.08‑acre lot
- Two‑level layout with commercial space on the first floor and a three‑bedroom apartment upstairs
- Lower level includes storefront windows, terrazzo flooring, kitchen, bathroom, shower room, and additional utility space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$24,602
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$492,040
$492.0K
Cap Rate 7%
$351,457
$351.5K
Cap Rate 9%
$273,356
$273.4K
Market Conditions
NOI Build-Up for 2,377 SF
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.
Gross rent
$42.8K $18.00/SF
− Vacancy
−$3.4K −$1.44/SF
EGI
$39.4K $16.56/SF
− OpEx
−$14.8K −$6.21/SF
NOI
$24.6K $10.35/SF
Area
Racine County, WI
Vacancy
8.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$492,040
Cap Rate 7%
$351,457
Cap Rate 9%
$273,356
Alternative Uses
Best Use
Specialty Retail
$471.4K
$412.5K – $550.0K
NOI $32,997 @ 7.0% cap · market cap 9.73%
Second Best
Mixed Use
$351.5K
$307.5K – $410.0K
NOI $24,602 @ 7.0% cap · market cap 7.26%
Theoretical Best
Office A
$571.6K
$500.2K – $666.9K
NOI $40,013 @ 7.0% cap · market cap 11.80%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
1
Residential units
Location Intelligence
Trade Area within ½ mile
304
Businesses Nearby
97k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 70%
Shops & Services 17%
Home Improvements & Furnishings 12%
McDonald's
Dining
20,665 visits/mo
0.3 miles
Taco Bell
Dining
13,893 visits/mo
0.0 miles
KFC
Dining
11,962 visits/mo
0.1 miles
Kortendick Ace Hardware
Home Improvements & Furnishings
11,927 visits/mo
0.5 miles
Dollar General
Shops & Services
9,201 visits/mo
0.1 miles
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - Commercial space below and a three-bedroom residence above create a flexible live-work configuration.
Where is this mixed-use property located?
The property is located at 3401 Douglas Ave Racine, WI.
What is the asking price?
The asking price for this property is $339,000.
What are key features of this property?
This property features: 2,377‑square‑foot mixed‑use building on a 0.08‑acre lot; Two‑level layout with commercial space on the first floor and a three‑bedroom apartment upstairs; Lower level includes storefront windows, terrazzo flooring, kitchen, bathroom, shower room, and additional utility space
