Corner Self-Storage
For Sale
$150,000
4120 13TH STREET, Racine, WI 53405
Four storage buildings sit on a fenced gravel lot with additional outdoor storage capacity and convenient access to nearby shopping.
Property Size800 SF
Price / SF$187.50
Days on Market175
Property Features for 4120 13TH STREET
General Information
Standard status
Active
Size
800 SF
Property subtype
General Commercial
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$1,213
Amenities
3
Commercial(Gen)
10 Parking Spaces.
0.0 to .499
Building Details
Year Built
1950
Buildings
4
Listing Agency:
Berkshire Hathaway HomeServices Metro Realty-Racine
(262) 497-4114
Listed By:
Alicia Villa
(262) 497-4114
Source:
Xome
Added: Mar 8
Changed: Aug 30
Last Checked: Aug 30 at 12:40AM
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 Berkshire Hathaway HomeServices Metro Realty-Racine
Investment Insights
Based on property information with market context.
This self-storage property includes four mini-storage warehouses on a large corner parcel with a fenced gravel lot. The outdoor area provides space for storage beyond the enclosed buildings, while 10 parking spaces support access to the site. The property was built in 1950 and is located at 4120 13th Street in Racine, Wisconsin.
Nearby public transit and shopping centers add convenience for users accessing the facility. The corner configuration and combination of enclosed and outdoor areas create a straightforward storage layout with multiple components to manage.
Nearby public transit and shopping centers add convenience for users accessing the facility. The corner configuration and combination of enclosed and outdoor areas create a straightforward storage layout with multiple components to manage.
Key Highlights
- Four mini‑storage warehouses on the property
- Large corner lot with a fenced gravel surface
- Outdoor storage area in addition to enclosed warehouse 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
$7,770
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
5.18%
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%
$155,400
$155.4K
Cap Rate 7%
$111,000
$111.0K
Cap Rate 9%
$86,333
$86.3K
Market Conditions
NOI Build-Up for 800 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
$12.0K $15.00/SF
− Vacancy
−$900 −$1.13/SF
EGI
$11.1K $13.88/SF
− OpEx
−$3.3K −$4.16/SF
NOI
$7.8K $9.71/SF
Area
Racine County, WI
Vacancy
7.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
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%
$155,400
Cap Rate 7%
$111,000
Cap Rate 9%
$86,333
Alternative Uses
Best Use
Self Storage
$111.0K
$97.1K – $129.5K
NOI $7,770 @ 7.0% cap · market cap 5.18%
Second Best
Warehouse
$67.4K
$59.0K – $78.7K
NOI $4,721 @ 7.0% cap · market cap 3.15%
Theoretical Best
Office A
$192.4K
$168.3K – $224.5K
NOI $13,467 @ 7.0% cap · market cap 8.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
432
Businesses Nearby
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Four storage buildings sit on a fenced gravel lot with additional outdoor storage capacity and convenient access to nearby shopping.
Where is this self storage facility located?
The property is located at 4120 13TH STREET Racine, WI.
What is the asking price?
The asking price for this property is $150,000.
What are key features of this property?
This property features: Four mini‑storage warehouses on the property; Large corner lot with a fenced gravel surface; Outdoor storage area in addition to enclosed warehouse space
