Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Old Grn Bay Rd Mount Pleasant, WI 53403
    Back to Search
    Property profile & analytics

    Old Grn Bay Rd, Mount Pleasant, WI 53403

    View on Map
    • Land
    • 2.90 lot acres
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 0 Old Grn Bay Rd

    Lot size
    2.90 lot acres
    Property type
    Land

    Description

    This exceptional 2.9-acre commercial land parcel presents a compelling investment opportunity in Racine County, Wisconsin. Strategically located between Racine and Kenosha, this property boasts a highly desirable C2 (Moderate Intensity Commercial) zoning designation, permitting a wide array of business uses, from veterinary services and professional offices to retail establishments. Its prime corner location on Old Green Bay Road ensures exceptional visibility and accessibility, further enhanced by its proximity to I-94 via a four-lane highway. Daily traffic counts on Old Green Bay Road exceed 1900 vehicles, while nearby KR and S.H. 31 see significantly higher volumes, reaching 8800 and 22,000 vehicles respectively. The area is experiencing significant residential growth, with numerous single-family and multi-family housing developments either existing or planned, creating a robust and expanding customer base. This property's location, zoning, and high traffic counts combine to create an attractive investment for a variety of commercial ventures. The asking price is $229,000, translating to $78,965 per acre. Seller financing is available. The APN is 151032235050200.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Mount Pleasant
    County
    Racine
    State
    Wisconsin
    Longitude
    -87.8638
    Latitude
    42.6686

    Comparable in this City

    • Value Estimation by Request
      22.31 Acres

      8404 County Line Rd

      Farms • 22.31 Acres
      8404 County Line Rd, Mount Pleasant, WI 53403
      View Details
    • Value Estimation by Request
      60.04 Acres

      7414 Braun Rd

      Land • 60.04 Acres
      7414 Braun Rd, Mount Pleasant, WI 53403
      View Details
    • Value Estimation by Request
      0.05 Acres

      3037 Capitol Ave

      COMMERCIAL (GENERAL) • 0.05 Acres
      3037 Capitol Ave, Mount Pleasant, WI 53403-3507
      View Details
    • Value Estimation by Request
      0.34 Acres

      1525 Durand Ave

      COMMERCIAL (GENERAL) • 0.34 Acres
      1525 Durand Ave, Mount Pleasant, WI 53403-3360
      View Details
    • Value Estimation by Request
      0.12 Acres

      3031 Norton Ave

      COMMERCIAL (GENERAL) • 0.12 Acres
      3031 Norton Ave, Racine, WI 53403-3600
      View Details
    • Value Estimation by Request
      0.12 Acres

      3005 Packard Ave

      COMMERCIAL (GENERAL) • 0.12 Acres
      3005 Packard Ave, Racine, WI 53403
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      Pending

      Commercial Land For Sale

      Commercial land available in Racine, Wisconsin.
      1144 S Memorial Dr, Racine, WI 53403
      View Details
    • $4,150,000
      38.00 Acres

      Mount Pleasant Development Opportunity

      38 acres near Microsoft-Foxconn campus with development potential.
      6147 Taylor Ave, Mount Pleasant, WI 53403
      View Details
    • $225,000
      0.49 Acres

      Lake Michigan Shoreline Residential Lot

      Half-acre lot ready for dream home near Lake Michigan.
      Lt5 Woodlake Ct, Racine, WI 53403
      View Details
    • $11,000,000
      0.88 Acres

      Downtown Racine Apartment Building

      78-unit complex with modern amenities and parking.
      134 Main St, Racine, WI 53403
      View Details
    • Contact for pricing
      43,000 SF

      Industrial Property: 43,000 SqFt

      Industrial property featuring 43,000 square feet of space.
      2503 Lincolnwood Ct, Racine, WI 53403
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      12,000 SF

      Prime Retail Space in Racine

      Versatile commercial space with parking, drive-in door, and basement.
      1610 Washington Ave, Racine, WI 53403
      View Details
    • $11 SF/Yr
      8,505 SF

      330 Main St.

      Coworking space • 8,505 SF
      330 Main St, Racine, WI 53403
      View Details
    • Contact for pricing
      45,511 SF

      One Main Centre: Racine Office Space

      Downtown Racine office suites, 1,124-8,444 sq ft.
      1 Main St, Racine, WI 53403
      View Details
    • $18 SF/Yr
      15,953 SF

      Class A Office Building

      Class A office building in downtown Racine with suites available.
      1 Main St, Racine, WI 53403
      View Details
    • Contact for pricing
      3,500 SF

      Commercial Flex Space Available

      3,500 sq ft flex space with climate control.
      316 Sheridan Rd, Racine, WI 53403
      View Details
    • Contact for pricing

      Harborview Professional Building For Sale

      Historic office building with lake views and negotiable terms.
      601 Lake Ave, Racine, WI 53403
      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.
    Old Grn Bay Rd
    Mount Pleasant, WI 53403
    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
    Old Grn Bay Rd, Mount Pleasant, WI, 53403
    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!