Building Details

Year Built 1920

Listing Agency: NAI Pfefferle

Listed By: Teresa Knuth · License #WI 89096-94 Show Phone

Source: Crexi

Added: May 1 Changed: Sep 29 Last Checked: Oct 16 at 7:57AM

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Investment Insights

Based on property information with market context.

This commercial property includes an existing 1,496-square-foot structure built in 1920 and configured for potential office, service retail, or boutique conversion. Commercial zoning supports a range of commercial or mixed-use redevelopment concepts, while the two-parcel layout allows for phased planning or alternative site configurations.

The property fronts Racine Street in downtown Menasha, with walkable access to shops, restaurants, and the riverfront. Its street presence and frontage support visibility for commercial occupancy or redevelopment.

Key Highlights

• Two‑parcel configuration at 58 and 60 Racine Street
• 1,496‑square‑foot existing structure built in 1920
• Commercial zoning supports commercial or mixed‑use redevelopment

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$16,965

Cap Rate

8.53%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$339,300 $339.3K

Cap Rate 7%

$242,357 $242.4K

Cap Rate 9%

$188,500 $188.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,496 SF

Gross rent

$26.9K $18.00/SF

− Vacancy

−$4.3K −$2.88/SF

EGI

$22.6K $15.12/SF

− OpEx

−$5.7K −$3.78/SF

NOI

$17.0K $11.34/SF

Area

Winnebago County, WI

Vacancy

16.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$339,300

Cap Rate 7%

$242,357

Cap Rate 9%

$188,500

Alternative Uses

Best Use

Office B

$242.4K

$212.1K – $282.8K (±1% cap)

NOI $16,965 @ 7.0% cap · market cap 8.53%

Second Best

Retail

$205.3K

$179.7K – $239.6K (±1% cap)

NOI $14,373 @ 7.0% cap · market cap 7.22%

Theoretical Best

Office A

$322.9K

$282.5K – $376.7K (±1% cap)

NOI $22,602 @ 7.0% cap · market cap 11.36%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Rostasowski Jeffry A DDS Dental Office Jeffry A. Rostas, DDS Dental Office

Suggested Use

Top Pick Real Estate Agency Kitchen & Bath Showroom Daycare Center HVAC Service Parking Lot & Garage Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

457

Businesses Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Demographics for 54952, WI

27,216

Population

12,412

Households

2.2

Avg Household Size

39

Median Age

25%

College-Educated

93%

High-School Grad

28.1 sq mi

ZIP Area

969

Density / Sq Mi

$67,280

Median Household Income

$44,765

Median Earnings

$906

Median Rent

$190,000

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Storefront property - Two-parcel commercial property with an existing structure suited to office, service retail, or boutique conversion.

Where is this storefront property located?

The property is located at 58 and 60 Racine Street Menasha, WI.

What is the asking price?

The asking price for this property is $199,000.

What are key features of this property?

This property features: Two‑parcel configuration at 58 and 60 Racine Street; 1,496‑square‑foot existing structure built in 1920; Commercial zoning supports commercial or mixed‑use redevelopment