Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    4801 Washington Ave Racine, WI 53406

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    4801 Washington Ave Racine, WI 53406

    View on Map
    • Retirement homes
    • 4.86 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • The LASIK Vision Institute / Medical Clinic / Hospital
    • Heidi A. Shufelt, OD / Physician
    • higi / Physician
    • ATM / Atm
    • Jeremy Laffin / Pharmacy

    Property Details for 4801 Washington Ave

    Lot size
    4.86 lot acres
    Property type
    Retirement homes
    Property subtype
    Retail properties & Spaces

    Description

    This exceptional 4.86-acre site at 4801 Washington Ave, Racine, WI 53406, is offered at $1,200,000. Zoned B-2 Community Shopping, it presents a fantastic redevelopment opportunity for various uses including hospitality, multifamily, senior living, retail, or a combination thereof. The property boasts convenient access to major roadways, including proximity to I-94 (5.97 miles) and Route 31 (0.4 miles), ensuring high visibility and accessibility. Water and sewer are available on-site. The location benefits from a high-traffic area with 30,000 vehicles daily and is surrounded by established retail amenities, offering further development potential. This motivated seller presents a unique chance to capitalize on the economic growth and tax incentives attracting businesses to Southeastern Wisconsin. The property's APN is 276-00-00-22-879-002. This is a truly remarkable investment opportunity in a thriving location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Racine
    County
    Racine
    State
    Wisconsin
    Longitude
    -87.8361
    Latitude
    42.7168

    Comparable in this City

    • Value Estimation
      $505,000
      3,206 SF

      1775 Newman Rd

      HOMES (RETIRED, NURSING) • 3,206 SF
      1775 Newman Rd, Mount Pleasant, WI 53406-2801
      View Details
    • Value Estimation by Request
      0.88 Acres

      8600 Corporate Dr

      HOMES (RETIRED, NURSING) • 0.88 Acres
      8600 Corporate Dr, Mount Pleasant, WI 53406-3777
      View Details
    • Value Estimation by Request
      0.42 Acres

      1449 Grn Bay Rd

      HOMES (RETIRED, NURSING) • 0.42 Acres
      1449 Grn Bay Rd, Mount Pleasant, WI 53406-2917
      View Details
    • Value Estimation by Request
      0.76 Acres

      8500 Corporate Dr

      HOMES (RETIRED, NURSING) • 0.76 Acres
      8500 Corporate Dr, Racine, WI 53406-3783
      View Details
    • Value Estimation by Request
      153,067 SF

      2211-2417 Green Bay Rd

      Restaurants • 153,067 SF
      2211-2417 Green Bay Rd, Racine, WI 53406
      View Details
    • Value Estimation by Request
      3.94 Acres

      5121 Spg St

      Specialty properties • 3.94 Acres
      5121 Spg St, Mount Pleasant, WI 53406
      View Details

    Similar Nearby for Sale

    • Contact for pricing

      Land For Sale

      Land available for sale.
      S Frontage Rd, Mount Pleasant, WI 53406
      View Details
    • Contact for pricing

      1.7 Acres of Land

      1.7 acres of land available for sale.
      4900 Spring St, Mount Pleasant, WI 53406
      View Details
    • Contact for pricing

      Racine, WI Commercial Land

      2.2 acres of commercial land available in Racine, WI.
      1230 Perry Ave, Racine, WI 53406
      View Details
    • $82,900
      0.30 Acres

      Residential Lot in Auburn Hills

      Residential lot in Auburn Hills subdivision, Racine, Wisconsin.
      3306 Bergamont Dr, Racine, WI 53406
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      1,150 SF

      Retail Space Near Regency Mall

      Retail spaces available near Regency Mall on Green Bay Road.
      2308-2406 S Green Bay Rd, Racine, WI 53406
      View Details
    • Contact for pricing
      10,500 SF

      Racine Centre Retail Opportunity

      Retail space available in Racine Centre Shopping Center.
      5415 Washington Ave, Mount Pleasant, WI 53406
      View Details
    • Contact for pricing
      4,200 SF

      Retail Space Near High Traffic

      Retail property with great access in Mount Pleasant, Wisconsin.
      1019 South Green Bay Rd, Mount Pleasant, WI 53406
      View Details
    • Contact for pricing

      Racine Retail Center Space Available

      153,000 SF retail center in a high-traffic shopping district.
      2211-2417 S Green Bay Rd, Racine, WI 53406
      View Details
    • Contact for pricing

      Stand-Alone Retail Building Available

      Stand-alone building in strong retail area, available May 2025.
      6501 Regency West Dr, Racine, WI 53406
      View Details
    • Contact for pricing
      800 SF

      Mount Pleasant Office and Retail

      Office and retail suites available in high-traffic Mount Pleasant.
      4900 Spring St, Mount Pleasant, WI 53406
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    4801 Washington Ave
    Racine, WI 53406
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry

    4801 Washington Ave, Racine, WI, 53406

    letter with green check mark
    Check your email

    We sent you the

    agent's contact details. yellow underline

    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!