Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Sold
    • Property Lookup
    • Brokers
    5111-5141 Douglas Ave Racine, WI 53402

    Property Lookup

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

    5111-5141 Douglas Ave Racine, WI 53402

    View on Map
    • Neighborhood centers
    • 78,011 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Neighborhood centers

    Property Details for 5111-5141 Douglas Ave

    Property size
    78,011 SF
    Property type
    Neighborhood centers
    Property subtype
    Retail properties & Spaces

    Description

    Discover Greentree Centre, a thriving retail strip center in Racine, Wisconsin. This prime location boasts a total of 78,011 square feet, currently anchored by a Pick 'n Save grocery store, complemented by established tenants such as Papa Murphy's Pizza and McDonald's. A highly desirable 1,800 square foot retail space is immediately available, presenting a unique opportunity for expansion or new business establishment. The center enjoys exceptional visibility and accessibility, situated at the intersection of Douglas Avenue (16,200 vehicles per day) and 4 Mile Road (11,900 vehicles per day), ensuring high traffic volume and significant consumer exposure. This strategic location benefits from a robust demographic profile, encompassing a population exceeding 83,500 people within a five-mile radius, with an average household income surpassing $71,100. The property is located in Racine County and offers a strong foundation for sustained business growth within a well-established and successful retail environment. This is an exceptional opportunity to secure a space in a high-performing shopping center with proven tenant success and a strong local customer base. The available space is ideal for a variety of retail uses. Contact us today to learn more about this exceptional opportunity.

    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
    -87.8072
    Latitude
    42.7857

    Comparable in this City

    • Value Estimation by Request
      11,832 SF

      3841-3845 Douglas Ave

      Neighborhood centers • 11,832 SF
      3841-3845 Douglas Ave, Racine, WI 53402
      View Details
    • Value Estimation by Request
      6,588 SF

      3739 Douglas Ave

      SHOPPING CENTER, STRIP CENTER • 6,588 SF
      3739 Douglas Ave, Racine, WI 53402-3226
      View Details
    • Value Estimation
      $1,130,000
      12,081 SF

      3841 Douglas Ave

      SHOPPING CENTER, STRIP CENTER • 12,081 SF
      3841 Douglas Ave, Racine, WI 53402-3228
      View Details
    • Value Estimation by Request
      5.10 Acres

      Frontage Rd

      Individual retail properties • 5.10 Acres
      0 Frontage Rd, Racine, WI 53402
      View Details
    • Value Estimation by Request
      5,880 SF

      for Sale in Racine Only $725 000 Restaurant Real Est

      Restaurants • 5,880 SF
      for Sale in Racine Only $725 000 Restaurant Real Est, Racine, WI 53402
      View Details
    • Value Estimation
      $2,225,000
      91,381 SF

      3900 Erie St

      MINI-MALL • 91,381 SF
      3900 Erie St, Racine, WI 53402-3544
      View Details

    Similar Nearby for Sale

    • $300,000

      Versatile Commercial Space in Racine

      6,036 sq ft flex space with high visibility.
      1922 Kremer Ave, Racine, WI 53402
      View Details
    • $885,000
      1 SF

      Racine Retail Building on Douglas

      11,316 SF building on 1.35 acre lot for sale.
      3108 Douglas Ave, Racine, WI 53402
      View Details
    • $150,000
      0.11 Acres

      Racine Two-Unit Residential Property

      Two-unit rental property in Racine, Wisconsin, ready for tenants.
      1024 Hagerer St, Racine, WI 53402
      View Details
    • $151,900
      0.92 Acres

      Residential Lot in Bluffside Subdivision

      Nearly one-acre residential lot in Caledonia, close to amenities.
      4925 Bluffside Dr, Racine, WI 53402
      View Details
    • $299,000
      4,547 SF

      Racine Mixed-Use Investment Opportunity

      Versatile property with spa, warehouse, and office spaces for sale.
      1318 N Main St, Racine, WI 53402
      View Details
    • $99,800
      0.68 Acres

      Racine Commercial Land Opportunity

      Commercial land parcel near Lake Michigan, suitable for various businesses.
      601 4 Mile Rd, Racine, WI 53402
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Racine Neighborhood Shopping Center Space

      Neighborhood shopping center anchored by Piggly Wiggly with ample parking.
      3900 Erie St, Racine, WI 53402
      View Details
    • Contact for pricing

      Racine Retail Space For Lease

      Retail space available for lease in Racine, Wisconsin.
      3900 Erie St, Racine, WI 53402
      View Details
    • Contact for pricing

      Racine Restaurant with Drive-Thru

      3,044 SF restaurant with drive-thru on 0.74 acres.
      3048 Douglas Ave, Racine, WI 53402
      View Details
    • $24 SF/Yr

      Single Tenant Office Space

      Office space available for single tenant occupancy.
      5133 Douglas Ave, Racine, WI 53402
      View Details
    • $8 SF/Yr

      Commercial Space Available For Rent

      Commercial property available for rent.
      3737 Douglas Ave, Racine, WI 53402
      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.
    5111-5141 Douglas Ave
    Racine, WI 53402
    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!