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    Pleasant Wisconsin Mt Racine, WI 53408

    Sponsored
    For Sale
    $2,000,000

    20 Acres, Prime Development Opportunity

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    This exceptional 20-acre commercial land parcel presents a unique investment opportunity in Mount Pleasant, Wisconsin. Located in Racine County, with a zip code of 53408 (latitude 42.72, longitude -87.84), this property is zoned for residential use and boasts a compelling location within the thriving Mount Pleasant area. The asking price is $2,000,000, translating to $100,000 per acre. The property's APN is 151-03-22-07-020-010. Its strategic position benefits from proximity to significant developments, including the new Aurora Medical Center and the future Educators Credit Union Headquarters, as well as several adjacent multi-family developments. Furthermore, the site is situated within TIF #7, offering potential tax advantages. A retail shopping corridor is conveniently located just 5.4 miles east, a short 10-minute drive. Access is facilitated by full freeway interchanges within 2 miles. The area is experiencing substantial growth, fueled by a proposed Microsoft investment exceeding $1 billion, encompassing at least four data centers with a projected assessed value of $1.4 billion by 2028. This development is expected to generate 2,300 construction jobs and 2,000 permanent positions. Recent infrastructure improvements include a $750 million investment in local roads, water, and electrical systems. The current mill rate is $16.720267 per $1,000 of assessed value. This property offers unparalleled potential for significant returns in a rapidly expanding market.

    Property Features for Pleasant Wisconsin Mt

    General Information

    Property type
    Land
    Lot Size
    871,200 SF

    HighLights

    • High‑growth area with new Aurora Medical Center, future Educators Credit Union headquarters, and nearby multifamily developments.
    • Located within Tax Increment Financing District #7.
    • Retail corridor five miles east, a ten‑minute drive.
    • Full freeway interchanges within two miles.
    • Microsoft's planned $1B+ investment includes four data centers, projected $1.4B assessed value by 2028.
    • Microsoft project to create 2,300 construction jobs and 2,000 permanent jobs.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Racine
    County
    Racine
    State
    Wisconsin
    Longitude
    -87.84
    Latitude
    42.72

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    FAQs

    What type of property is this?
    Land - 20 Acres, Prime Development Opportunity
    Where is this land located?
    The property is located at Pleasant Wisconsin Mt Racine, WI.
    What is the asking price?
    The asking price for this property is $2,000,000.
    What are key features of this property?
    This property features: High-growth area with new Aurora Medical Center, future Educators Credit Union headquarters, and nearby multifamily developments.; Located within Tax Increment Financing District #7.; Retail corridor five miles east, a ten-minute drive.
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    Pleasant Wisconsin Mt Racine, WI 53408
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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
    Pleasant Wisconsin Mt Racine, WI 53408
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