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Property profile & analytics
OFF-MARKET
Estimated value
$2,620,000
Industrial properties
1500 De Koven Ave Racine, WI 53403-2540
Entity Owned
Free & Clear
Property ID
US92-0156887
Property profile
Verified
Property type
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Year built
1945
Total area
58,485 SF
Lot
19.71 ac (858,568 SF)
Zoning code
I2
APN
276 000016848000
UPID
US92-0156887
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
-
Modine Manufacturing Company Corporate Office
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.62M
Owner & transaction history
City Of Racine
City Of Racine
since 2026
7 recorded transactions
Zoning & alternative use
I2 · Racine, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
Alternative Use
Use
Estimation
RETAIL STORES
$3,715,000
Change: 0% · Conversion: Moderate
COMMERCIAL (GENERAL)
$3,365,000
Change: 0% · Conversion: Difficult
WAREHOUSE, STORAGE
$3,045,000
Change: 0% · Conversion: Easy
NEIGHBORHOOD: SHOPPING CENTER
$2,085,000
Change: 0% · Conversion: Difficult
Blend value · Realmo final
$2.62M
Range $2.36M – $2.88M · ±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
$45 / 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
$205,937
Tax year 2023
Assessed value
$8,128,000
Assessed 2023
Previous assessed
$7,784,000
+4.4% YoY
Effective rate
2.53%
On assessed value
Assessed land
$1,119,600
Assessed improvement
$7,008,400
Land market value
$1,239,951
Improvement market value
$7,761,766
Total market value
$9,001,717
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
Industrial properties
Use group
INDUSTRIAL (GENERAL)
Status
Off-Market
Year built
1945
Heating
YES
Cooling
YES
Stories
1
Total area
58,485 SF
Lot
19.71 ac (858,568 SF)
Zoning code
I2
APN
276 000016848000
UPID
US92-0156887
Jurisdiction
RACINE
Zoning & alternative use
I2 · Racine, WI
Zoning I2 · permitted uses
I2 · Racine, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Racine. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
RETAIL STORES
Est. value
$3.7M
COMMERCIAL (GENERAL)
Est. value
$3.4M
WAREHOUSE, STORAGE
Est. value
$3.0M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$2.1M
RETAIL STORES
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
NEIGHBORHOOD: SHOPPING CENTER
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1945
Heating
YES
Cooling
Yes
Stories
1
Lot
19.71 ac
Current owner
From public records · entity-resolved
City Of Racine
Entity
Free & Clear · 0 yrs held
Mailing address
1500 DE KOVEN AVE, RACINE, WI 53403-2540
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2026
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 12, 2026
$9,000
City Of Racine
Modine Manufacturing Company
Warranty Deed
—
Feb 23, 2023
—
Modine Manufacturing Company
—
Deed
related
—
Nov 1, 2019
—
Modine Manufacturing Co
—
Deed
related
—
Mar 31, 2017
—
Modine Manufacturing Co
—
Deed
related
—
—
—
Modine Manufacturing Co
—
Loan Modification
related
—
—
—
Modine Manufacturing Co
—
Deed Of Trust
related
—
—
—
Modine Manufacturing Co
—
Loan Modification
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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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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