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Property profile & analytics
OFF-MARKET
Estimated value
$160,000
Auto shops
1328 Memorial Dr Racine, WI 53404-3048
Individually Owned
3-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US92-0688714
Property summary
AI-generated overview
This exceptional 0.11-acre commercial land parcel, located at 1328 S Memorial Dr in Racine, Wisconsin, presents a unique investment opportunity. Situated in Racine County, zip code 53403, this property is zoned R-3, offering a range of potential commercial development options. The lot's convenient location provides easy access to local amenities and transportation routes. With an asking price of $25,000, this property represents an attractive entry point into the Racine commercial real estate market. The property's APN is 10059000. This is a blank canvas for a discerning investor seeking to establish a presence in a thriving Wisconsin community. The land's size and zoning provide flexibility for a variety of commercial ventures. Don't miss this chance to acquire a strategically located commercial lot in a desirable area. Act quickly to secure this promising investment opportunity. The coordinates for the property are latitude 42.7160719 and longitude -87.7993424.
Property profile
Verified
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Year built
1920
Total area
2,112 SF
Lot
0.1 ac (4,182 SF)
Zoning code
I1
APN
276 000007360000
UPID
US92-0688714
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Hydronics of Racine Inc HVAC Service General Contractor
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$160k
Owner & transaction history
Martin G Defatte · 3 yrs held
Martin G Defatte
since 2022
3 recorded transactions
Zoning & alternative use
I1 · Racine, WI
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Racine submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Racine submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$160k
Range $144k – $176k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$76 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$1,361
Tax year 2023
Assessed value
$47,000
Assessed 2023
Previous assessed
$44,000
+6.8% YoY
Effective rate
2.90%
On assessed value
Assessed land
$5,600
Assessed improvement
$41,400
Land market value
$6,201
Improvement market value
$45,850
Total market value
$52,051
Applied tax rate
276.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Auto shops
Use group
AUTO REPAIR, GARAGE
Status
Off-Market
Year built
1920
Heating
YES
Stories
1
Bathrooms
2
Total area
2,112 SF
Lot
0.1 ac (4,182 SF)
Zoning code
I1
APN
276 000007360000
UPID
US92-0688714
Jurisdiction
RACINE
Zoning & alternative use
I1 · Racine, WIZoning I1 · permitted uses
I1 · Racine, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Zoning Check
Building & site characteristics
From public records
Year built
1920
Heating
YES
Stories
1
Bathrooms
2
Lot
0.1 ac
Current owner
From public records · entity-resolved
Martin G Defatte
Individual
Mailing address
519 IS AVE, RACINE, WI 53405-2655
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2022
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Nov 30, 2022
$75,000
Martin G Defatte
Lass Properties LLC
Land Contract
$50,000 · Not Available
Jun 30, 2022
$40,000
Lass Properties LLC
Steven T Roberts
Warranty Deed
—
Dec 7, 2005
$12,500
Steven T Roberts
Roberts,mark G
Quit Claim Deed
related
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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