4901 Washington Ave Racine, WI 53406

Property Details for 4901 Washington Ave

Lot size

10.00 lot acres

Property size

85,000 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

Westgate Square, a prime 85,000-square-foot shopping center in Racine, Wisconsin, presents a compelling investment opportunity. This Class B, multi-tenant property boasts 100% occupancy, featuring a diverse tenant mix including Dollar General, CSL Plasma, and Salvation Army. The property, situated on a 10-acre lot at 4901 Washington Ave, Racine, WI 53406, underwent significant renovations between 2023 and 2024, including a newly renovated display sign, resealed and restriped parking lot, a fully painted facade, updated landscaping, and a recently completed five-year sprinkler system inspection and recertification. The Net Rentable Area is 80,000 square feet, with a current asking price of $7,999,000, representing a price per square foot of $94.11 and a 5.94% cap rate. The property generates a Net Operating Income (NOI) of $475,000. This single-story building is zoned for commercial use and offers a potential outlot on Washington Avenue. The property is ideally suited for a 1031 exchange, providing a stable, cash-flowing investment with long-term tenants and a strong rental history. The 100% occupancy ensures immediate cash flow and future stability. This turn-key shopping center represents a rare opportunity to acquire a well-maintained, high-performing retail asset in a desirable location.

Location Insight

City

Racine

County

Racine

State

Wisconsin

Longitude

-87.8382

Latitude

42.7186