Conventional Restaurant
For Sale
$465,000
3810 Durand AVENUE, Racine, WI 53405
Recently operated restaurant space with central air, commercial zoning, and on-site parking.
Property Size2,520 SF
Price / SF$184.52
Days on Market361
Property Features for 3810 Durand AVENUE
General Information
Standard status
Active
Size
2,520 SF
Property subtype
General Commercial
Taxes and HOA fees
Annual Taxes
$6,480
Amenities
Central Air
3
B3 General Com
25 Parking Spaces.
0.0 to .499
Building Details
Year Built
1969
Listing Agency:
EXP Realty, LLC MKE
(262) 945-2855
Listed By:
Julie Perez · License #89972-94
(262) 945-2855
Source:
Xome
Added: Sep 4, 2025
Changed: Aug 29
Last Checked: Aug 29 at 4:04PM
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 EXP Realty, LLC MKE
Investment Insights
Based on property information with market context.
This 2,520-square-foot restaurant property in Racine includes central air and was recently operated as a restaurant. The building dates to 1969 and offers a commercial configuration suitable for continued restaurant use or another business format supported by the property’s layout and zoning.
Located at 3810 Durand Avenue, the property is designated B3 General Com and includes 25 parking spaces. Its existing restaurant history and on-site parking provide a practical foundation for an owner-operator or business seeking an established commercial building.
Located at 3810 Durand Avenue, the property is designated B3 General Com and includes 25 parking spaces. Its existing restaurant history and on-site parking provide a practical foundation for an owner-operator or business seeking an established commercial building.
Key Highlights
- 2,520‑square‑foot restaurant property
- Recently operated as a restaurant
- Central air conditioning
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
$34,982
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
7.52%
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%
$699,640
$699.6K
Cap Rate 7%
$499,743
$499.7K
Cap Rate 9%
$388,689
$388.7K
Market Conditions
NOI Build-Up for 2,520 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
$48.4K $19.20/SF
− Vacancy
−$1.7K −$0.69/SF
EGI
$46.6K $18.51/SF
− OpEx
−$11.7K −$4.63/SF
NOI
$35.0K $13.88/SF
Area
Racine County, WI
Vacancy
3.60%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
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%
$699,640
Cap Rate 7%
$499,743
Cap Rate 9%
$388,689
Alternative Uses
Best Use
Specialty Retail
$499.7K
$437.3K – $583.0K
NOI $34,982 @ 7.0% cap · market cap 7.52%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$606.0K
$530.3K – $707.0K
NOI $42,421 @ 7.0% cap · market cap 9.12%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
494
Businesses Nearby
100k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 37%
Dining 37%
Groceries 24%
Apparel 3%
McDonald's
Dining
25,594 visits/mo
0.4 miles
Piggly Wiggly
Groceries
23,814 visits/mo
0.3 miles
Dollar Tree
Shops & Services
8,282 visits/mo
0.2 miles
BP
Shops & Services
7,360 visits/mo
0.1 miles
Family Dollar
Shops & Services
6,093 visits/mo
0.1 miles
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
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?
Conventional restaurant - Recently operated restaurant space with central air, commercial zoning, and on-site parking.
Where is this conventional restaurant located?
The property is located at 3810 Durand AVENUE Racine, WI.
What is the asking price?
The asking price for this property is $465,000.
What are key features of this property?
This property features: 2,520‑square‑foot restaurant property; Recently operated as a restaurant; Central air conditioning
