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Property profile & analytics
OFF-MARKET
Estimated value
$990,000
Strip malls
1500 State St, Racine, WI 53404-3268
Entity Owned
10-yr Hold
~
Est. High Equity
Property ID
US92-3497930
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
2000
Total area
24,180 SF
Lot
2.2 ac (95,788 SF)
Zoning code
B2
APN
276 000007950001
UPID
US92-3497930
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$595k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$1.38M
Blend (final)
Blend
$990k
Owner & transaction history
Aum Sai Shiv LLC · 10 yrs held
Aum Sai Shiv LLC
since 2016
3 recorded transactions
Zoning & alternative use
B2 · Racine, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$1.5M
+73.4%
Warehouse, storage
$1.0M
+21.2%
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
$595,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
NEIGHBORHOOD: SHOPPING CENTER
$865,000
Current use
COMMERCIAL (GENERAL)
$1,495,000
Change: +73% · Conversion: Easy
WAREHOUSE, STORAGE
$1,045,000
Change: +21% · Conversion: Difficult
Blend value · Realmo final
$990k
Range $891k – $1.09M · ±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
$41 / 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
$119,127
Tax year 2023
Assessed value
$4,404,000
Assessed 2023
Previous assessed
$4,404,000
+0.0% YoY
Effective rate
2.70%
On assessed value
Assessed land
$287,300
Assessed improvement
$4,116,700
Land market value
$318,183
Improvement market value
$4,559,223
Total market value
$4,877,406
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
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Status
Off-Market
Year built
2000
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Bathrooms
7
Total area
24,180 SF
Lot
2.2 ac (95,788 SF)
Zoning code
B2
APN
276 000007950001
UPID
US92-3497930
Jurisdiction
RACINE
Zoning & alternative use
B2 · Racine, WI
Zoning B2 · permitted uses
B2 · 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
NEIGHBORHOOD: SHOPPING CENTER Current
Est. value
$865,000
COMMERCIAL (GENERAL)
Est. value
$1.5M
WAREHOUSE, STORAGE
Est. value
$1.0M
NEIGHBORHOOD: SHOPPING CENTER Current
COMMERCIAL (GENERAL)
WAREHOUSE, STORAGE
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
2000
Heating
FORCED AIR
Cooling
Yes
Stories
1
Bathrooms
7
Lot
2.2 ac
Current owner
From public records · entity-resolved
Aum Sai Shiv LLC
Entity
Mailing address
1800 MCDONOUGH RD STE #209, HOFFMAN ESTATES, IL 60192-4565
Ownership since
2016
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
Jun 3, 2016
$3,985,000
Aum Sai Shiv LLC
R & D State Street LLC
Warranty Deed
—
Jun 7, 2006
$2,950,000
R & D State Street LLC
State Street Center LLC
Warranty Deed
$2,350,000 · Northbrook Bank & Trust Co
—
—
R & D State Street LLC
—
Deed Of Trust
related
$2,350,000 · Column Financial INC
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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