Private Office
500 College Avenue #5, Racine, WI 53406
For Sale
Contact for pricing
A private workspace comes with receptionist support, access to a reservable conference room, and off-street parking.
Property Size216 SF
Price / SF$3.70
Days on Market9
Property Features for 500 College Avenue #5
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Zoning
Additional Details
Property Use
Amenities
receptionist services
photocopier access
reservable conference room
on-site fitness center
break room
off-street parking
Building Details
Building Size
Year Built
Listing Agency:
Derango Real Estate Services
Listed By:
Anna Maria Derango · License WI WI38546-090
(262) 989-6520
Source:
Coactionrealestate
Added: Nov 6
Changed: Nov 8
Last Checked: Nov 13 at 4:06PM
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 Derango Real Estate Services
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 216-square-foot office suite is located at 500 College Avenue, Suite 5, in Racine. The space has a large window and is within a professional law firm. The building, constructed in 1958, is zoned B-4.
Shared amenities include receptionist services, photocopier access, a reservable conference room, a fitness center, and a break room. Utilities are included, and off-street parking is available.
Shared amenities include receptionist services, photocopier access, a reservable conference room, a fitness center, and a break room. Utilities are included, and off-street parking is available.
Key Highlights
- 216‑square‑foot private office at 500 College Avenue, Suite 5
- Large window
- Receptionist services and photocopier access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$2,790
Suggested Prices Based on Cap Rates
Cap Rate 5%
$55,800
$55.8K
Cap Rate 7%
$39,857
$39.9K
Cap Rate 9%
$31,000
$31.0K
Market Conditions
NOI Build-Up for 216 SF
Gross rent
$4.5K $21.00/SF
− Vacancy
−$816 −$3.78/SF
EGI
$3.7K $17.22/SF
− OpEx
−$930 −$4.31/SF
NOI
$2.8K $12.92/SF
Area
Racine County, WI
Vacancy
18.00%
Lease Rate
$21.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$55,800
Cap Rate 7%
$39,857
Cap Rate 9%
$31,000
Alternative Uses
Best Use
Office B
$39.9K
$34.9K – $46.5K
NOI $2,790 @ 7.0% cap
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$51.9K
$45.5K – $60.6K
NOI $3,636 @ 7.0% cap
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
1,328
Businesses Nearby
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Business Placement
Demographics for 53406, WI
27,078
Population
11,634
Households
2.3
Avg Household Size
45
Median Age
32%
College-Educated
93%
High-School Grad
16.4 sq mi
ZIP Area
1,651
Density / Sq Mi
$78,427
Median Household Income
$46,745
Median Earnings
$990
Median Rent
$262,000
Median Home Value
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Market
Properties on Market for Office Units in Racine County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - A private workspace comes with receptionist support, access to a reservable conference room, and off-street parking.
Where is this office unit located?
The property is located at 500 College Avenue #5 Racine, WI.
What are key features of this property?
This property features: 216‑square‑foot private office at 500 College Avenue, Suite 5; Large window; Receptionist services and photocopier access
