Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    8042 22Nd Ave Kenosha, WI 53143

    Property Lookup

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

    8042 22Nd Ave Kenosha, WI 53143

    View on Map
    • Lifestyle centers
    • 51,072 SF
    • 4.31 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Lifestyle centers

    Property Details for 8042 22Nd Ave

    Year built
    1977
    Lot size
    4.31 lot acres
    Property size
    51,072 SF
    Property type
    Lifestyle centers
    Property subtype
    Power centers

    Description

    This exceptional value-add opportunity presents a 51,072 square foot retail center in Kenosha, Wisconsin, anchored by Ollie's Bargain Outlet and Huntington Bank. The property boasts a strong tenant mix, including Family Dollar and Cost Cutters, with 10 tenants in total operating primarily on net leases. A new 10-year lease with Ollie's commenced in May 2024, further solidifying the center's long-term stability. Ollie's also benefits from a 20-year roof warranty beginning in Fall 2021. The property features two one-story buildings on a 4.31-acre lot with 154 parking spaces and excellent visibility at a signalized hard-corner intersection. With 92% occupancy, the property currently generates a NOI of $366,935, and a pro-forma NOI of $426,252, representing an 8.00% cap rate and a pro-forma cap rate of 9.29%. Four tenants have rental increases built into their leases. The property's strategic location in a densely populated area, with over 117,472 residents within five miles, and proximity to schools, major corporations, hospitals, and other retailers, ensures consistent demand and strong future growth potential. The asking price is $4,586,000. Built in 1977, this property offers a compelling investment opportunity with significant upside potential. The property is located at 8042 22nd Ave, Kenosha, WI 53143.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Kenosha
    County
    Kenosha
    State
    Wisconsin
    Longitude
    -87.8358
    Latitude
    42.5575

    Comparable in this City

    • Value Estimation by Request
      3.03 Acres

      1126 88th Pl

      MANUFACTURING (LIGHT) • 3.03 Acres
      1126 88th Pl, Kenosha, WI 53143-6538
      View Details
    • Value Estimation by Request
      0.25 Acres

      6205 10th Ave

      COMMERCIAL (GENERAL) • 0.25 Acres
      6205 10th Ave, Kenosha, WI 53143-1121
      View Details
    • Value Estimation by Request
      0.09 Acres

      6205 13th Ave

      COMMERCIAL (GENERAL) • 0.09 Acres
      6205 13th Ave, Kenosha, WI 53143-1133
      View Details
    • Value Estimation by Request
      0.14 Acres

      Roosevelt Rd

      VACANT COMMERCIAL LAND • 0.14 Acres
      Roosevelt Rd, Kenosha, WI 53143
      View Details
    • Value Estimation by Request
      0.11 Acres

      2600 Roosevelt Rd

      VACANT COMMERCIAL LAND • 0.11 Acres
      2600 Roosevelt Rd, Kenosha, WI 53143-4636
      View Details
    • Value Estimation by Request
      0.10 Acres

      8401 Sheridan Rd

      VACANT COMMERCIAL LAND • 0.10 Acres
      8401 Sheridan Rd, Kenosha, WI 53143-6326
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      6,779 SF

      Mixed-Use Properties Package For Sale

      Two adjacent properties: commercial building and duplex, sold as package.
      6017 22Nd Ave, Kenosha, WI 53143
      View Details
    • Contact for pricing
      51,072 SF

      Anchored Retail Center For Sale

      Retail center with national tenants in a high-traffic location.
      2207-2215 80Th St, Kenosha, WI 53143
      View Details
    • $6,000,000

      Former Pick 'n Save Available

      Former Pick 'n Save built in 2007 with expansion opportunities.
      1901 63Rd St, Kenosha, WI 53143
      View Details
    • $349,900
      3,956 SF

      Kenosha Corner Building For Sale

      Solid brick building in Uptown Business district, ideal for retail.
      6105 22Nd Ave, Kenosha, WI 53143
      View Details
    • $349,900
      3,956 SF

      Uptown Corner Building For Sale

      Solid brick building in Uptown business district, multi-tenant potential.
      6105 22Nd Ave, Kenosha, WI 53143
      View Details
    • Contact for pricing

      Highway 50 Commercial Land

      Commercial land in regional retail hub with high traffic.
      77Th St, Pleasant Prairie, WI 53143
      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.
    8042 22Nd Ave
    Kenosha, WI 53143
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!