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Property profile & analytics
FOR SALE
Retail properties & Spaces

1816 Washington St Two Rivers, WI 54241

50,880 SF 0.41 ac lot Built 1922
Entity Owned Absentee Owner Free & Clear
Property ID
US92-2411355
Property summary
AI-generated overview

This substantial three-story retail building, located in Two Rivers, Wisconsin's vibrant downtown business district, presents a unique redevelopment opportunity. The 33,600 square foot building, situated on a 0.41-acre lot (APN: 0000500103), is currently 50% occupied by a Christian Thrift Store. Originally constructed in 1922 as the Rivioli Theatre, it later served as Evans Department Store after a 1960 renovation. The building features a freight elevator servicing all four levels (including basement), a sprinkler system, and is zoned B-1 Business. The main floor and basement each offer 17,280 square feet of retail space, while the second and third floors provide 8,160 square feet each, previously used for storage. The asking price is $647,000 ($19.26/sq ft). This TIF-eligible property offers significant potential for investors and developers. Note that tenants' fixtures, equipment, and inventory are excluded from the sale. The building's rich history and central location make it an attractive investment.

Property profile
Verified
Property type Retail properties & Spaces
Use group DEPARTMENT STORE
Year built 1922
Total area 50,880 SF
Lot 0.41 ac (17,990 SF)
Zoning code B1
APN 53-000-050-010.03
UPID US92-2411355
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
  • Two Rivers Christian Center Thrift Store Discount Store
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$1.92M
Blend (final) Blend
$1.37M
Owner & transaction history
EVAN INC
EVAN INC
Zoning & alternative use
B1 · Two Rivers, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
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