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    1230 Perry Ave Racine, WI 53406

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    For Sale
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    Prime Racine commercial land, redevelopment opportunity.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 2.205-acre commercial land parcel presents a unique redevelopment opportunity in Racine, Wisconsin. Located at 1230 Perry Avenue, the property is zoned B2 Community Shopping and boasts excellent visibility and access from Washington Avenue. The site is part of a larger redevelopment project, formerly the Westgate Theater, which now includes a recently opened Town Bank and Discount Tire. This particular parcel, situated at the rear of the development, offers significant potential for a variety of uses. Consideration could be given to multi-unit housing, retail establishments, office space, or a medical office building. The City of Racine is actively improving infrastructure in the area, with plans to install a new traffic signal at the intersection of Perry Avenue, further enhancing accessibility and visibility for future development. The APN for this property is 13132127. This is a rare chance to acquire a strategically located parcel in a thriving commercial area, poised for significant growth and development. The property's size and zoning provide considerable flexibility for a wide range of commercial ventures. Don't miss this opportunity to capitalize on the potential of this prime Racine location.

    Property Features for 1230 Perry Ave

    General Information

    Property type
    Land
    Lot Size
    96,050 SF

    HighLights

    • Newly constructed Town Bank and Discount Tire anchor a redeveloped site, formerly the Westgate Theater, on Washington Ave.
    • Remaining parcel offers development potential for multi‑family, retail, office, or medical uses.
    • Excellent visibility and accessibility from Washington Avenue.
    • City‑approved traffic signal installation at Perry Avenue intersection to improve access.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Hair Salon Dental Office Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Racine
    County
    Racine
    State
    Wisconsin
    Longitude
    -87.8393591
    Latitude
    42.7180577

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    FAQs

    What type of property is this?
    Land - Prime Racine commercial land, redevelopment opportunity.
    Where is this land located?
    The property is located at 1230 Perry Ave Racine, WI.
    What are key features of this property?
    This property features: Newly constructed Town Bank and Discount Tire anchor a redeveloped site, formerly the Westgate Theater, on Washington Ave.; Remaining parcel offers development potential for multi-family, retail, office, or medical uses.; Excellent visibility and accessibility from Washington Avenue.
    (414) 347-9400
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1230 Perry Ave Racine, WI 53406
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