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Property profile & analytics
OFF-MARKET
Estimated value
$605,000
Warehouses
1608 Oakes Rd Racine, WI 53406-4672
Entity Owned
18-yr Hold
Absentee Owner
Free & Clear
Property ID
US92-0035814
Property profile
Verified
Property type
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Year built
1986
Total area
10,350 SF
Lot
9.19 ac (400,229 SF)
Zoning code
I2
APN
276 000023916003
UPID
US92-0035814
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
-
First Student, Inc. School Bus Service
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$405k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$635k
Blend (final)
Blend
$605k
Owner & transaction history
City Of Racine · 18 yrs held
City Of Racine
since 2008
6 recorded transactions
Zoning & alternative use
I2 · Racine, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Commercial (general)
$670,000
+70.1%
Retail stores
$560,000
+41.6%
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
$405,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
WAREHOUSE, STORAGE
$395,000
Current use
COMMERCIAL (GENERAL)
$670,000
Change: +70% · Conversion: Difficult
RETAIL STORES
$560,000
Change: +42% · Conversion: Moderate
Blend value · Realmo final
$605k
Range $545k – $666k · ±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
$58 / 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
$16,174
Tax year 2023
Assessed value
$642,700
Assessed 2023
Previous assessed
$506,000
+27.0% YoY
Effective rate
2.52%
On assessed value
Assessed land
$293,800
Assessed improvement
$348,900
Land market value
$325,381
Improvement market value
$386,404
Total market value
$711,785
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
Warehouses
Use group
MINI-WAREHOUSE, STORAGE
Status
Off-Market
Year built
1986
Heating
FORCED AIR
Cooling
CENTRAL
Stories
1
Total area
10,350 SF
Lot
9.19 ac (400,229 SF)
Zoning code
I2
APN
276 000023916003
UPID
US92-0035814
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
WAREHOUSE, STORAGE Current
Est. value
$395,000
COMMERCIAL (GENERAL)
Est. value
$670,000
RETAIL STORES
Est. value
$560,000
WAREHOUSE, STORAGE Current
COMMERCIAL (GENERAL)
RETAIL STORES
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
1986
Heating
FORCED AIR
Cooling
Yes
Stories
1
Lot
9.19 ac
Current owner
From public records · entity-resolved
City Of Racine
Entity
Free & Clear · 18 yrs held
Mailing address
1616 OAKES RD, RACINE, WI 53406-4672
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2008
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
6 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 22, 2021
—
Daniel D Oakes
—
Deed
related
$2,000,000 · Glenn Oakes Family Trust
Sep 30, 2021
—
Daniel D Oakes
—
Deed
related
$2,000,000 · Oakes Joint Revocable Trust
Mar 19, 2008
$7,000
City Of Racine
Sekao INC
Warranty Deed
related
—
Sep 19, 2007
$17,050
Village Of Mt Pleasant
Sekao INC
Grant Deed
related
—
—
—
Sekao INC
—
Deed Of Trust
related
—
—
—
Sekao INC
—
Deed Of Trust
related
$643,054 · Johnson Bank
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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