517 6Th StRacine, WI 53403

Property Details for 517 6Th St

Year built

1900

Lot size

0.05 AC

Property size (Sq ft)

6,300 SF

Zone code

B4

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

276 000000364000

APU

276000000364000

Description

This exceptional 2,000 square foot commercial space, located at 517 6th Street in Racine, Wisconsin, presents a unique opportunity for businesses seeking a vibrant downtown location. Currently configured as retail space, this property is adaptable to a variety of uses, including creative office, professional office, or a combination thereof. Situated directly across from the Indian Motorcycle dealership and just blocks from Lake Michigan, this property benefits from high visibility and foot traffic in the heart of Racine's bustling downtown area. The space features two bathrooms and offers a tenant improvement allowance, making it ideal for businesses needing customization. The building boasts a masonry facade, eligible for a facade grant, further enhancing its appeal. Traffic counts average 8,000 vehicles per day, ensuring significant exposure. Lease terms are flexible, ranging from 2 to 5 years, and the property is professionally managed. The space can be divided to accommodate different tenant needs. The asking rent is $8-$10 per square foot annually, on a triple net lease basis. A basement is also included with the property. The property is zoned B4 - Central Business District, reflecting its prime location within the city's commercial core. This is a rare opportunity to secure a highly visible and versatile space in a thriving downtown area.

• CAP approach

  CAP return

  Valuation

  6%

  $1,137,540

  6.5%

  $1,050,037

  7%

  $975,034

• Comparable approach

  Method

  Valuation

  Relative Method

  $639,596

  Geo Method

  $820,575

• Alternative Use

  Use

  Valuation

  Residential

  $1,302,046

  Hospitality

  $1,192,667

  Educational

  $992,285

  Medical

  $1,026,411

  Retail

  $1,543,554

Location Insight

City

Racine

County

Racine

State

Wisconsin

Latitude

42.7262

Longitude

-87.7868

CBSA code

39540

CBSA name

RACINE, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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