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    Property profile & analytics

    1816 Washington St Two Rivers, WI 54241

    • Retail properties
    • 50,880 SF
    • 0.41 lot acres
    For Sale
    View listing
    $599,900
    Value Estimation
    Location Intelligence
    Property ID
    US92-2411355
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Two Rivers Christian Center Thrift Store / Thrift Store / Home Goods Store

    Property Details for 1816 Washington St

    Year built
    1922
    Lot size
    0.41 lot acres
    Property size
    50,880 SF
    Zone code
    B1
    Property type
    Retail properties
    APN
    53-000-050-010.03
    APU
    5300005001003

    Description

    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.

    Value Estimation

    by Realmo proprietary methodology Last update: July 3, 2025

    • AI approach

      CAP return
      Estimation
      Estimation
      $585,000

    • CAP approach

      CAP return
      Estimation
      6%
      $665,000
      6.5%
      $610,000
      7%
      $585,000

    • Comparable approach

      Method
      Estimation
      Relative Method
      $685,000
      Geo Method
      $575,000

    • Alternative Use

      Use
      Estimation
      Distribution
      $735,000
      Retail
      $710,000
      Mixed-Use
      $630,000
      Hospitality
      $770,000
      Educational
      $740,000
      Residential Income
      $795,000
      Energy
      $670,000
      Income-Based Land
      $805,000
      Food Service
      $710,000

    Location Insight

    • Map
    • Local Demand
    City
    Two Rivers
    County
    Manitowoc
    State
    Wisconsin
    Longitude
    -87.5687
    Latitude
    44.1504
    CBSA code
    31820
    CBSA name
    MANITOWOC, WI MICROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $9,024
    $54,600
    $256,400
    $311,000
    -
    $0.00
    $0.00
    $493,500

    Comparable in this City

    • Value Estimation
      $340,000
      6,796 SF

      1706 11th St

      NURSERY, GREENHOUSE, FLORIST • 6,796 SF
      1706 11th St, Two Rivers, WI 54241-3503
      View Details
    • Value Estimation
      $80,000
      4,760 SF

      1810 Washington St

      DEPARTMENT STORE • 4,760 SF
      1810 Washington St, Two Rivers, WI 54241-2642
      View Details
    • Value Estimation by Request
      13,638 SF

      1516 Washington Blvd

      Office Properties & Spaces • 13,638 SF
      1516 Washington Blvd, Two Rivers, WI 54241
      View Details
    • Value Estimation
      $335,000
      16,872 SF

      3000 Frst Ave

      NURSERY, GREENHOUSE, FLORIST • 16,872 SF
      3000 Frst Ave, Two Rivers, WI 54241-1927
      View Details
    • Value Estimation
      $630,000
      37,792 SF

      1623 Washington St

      DEPARTMENT STORE • 37,792 SF
      1623 Washington St, Two Rivers, WI 54241-3021
      View Details
    • Value Estimation
      $115,000
      7,444 SF

      1415 16th St

      BAR, TAVERN • 7,444 SF
      1415 16th St, Two Rivers, WI 54241-3030
      View Details

    Similar Nearby for Sale

    • $647,000
      33,600 SF

      Downtown Two Rivers Retail Building

      Prime retail space, redevelopment opportunity.
      1816 Washington St, Two Rivers, WI 54241
      View Details
    • $599,900
      50,800 SF

      Downtown Two Rivers Redevelopment Opportunity

      Redevelopment potential in downtown Two Rivers, TIF eligible.
      1816 Washington St, Two Rivers, WI 54241
      View Details
    • $579,900
      69.29 Acres

      67 Acres Two Rivers Development Land

      Rare Wisconsin residential land, buildable parcels.
      & STH 42 Parcels #1 Thru #6 Sandy Bay Rd, Two Rivers, WI 54241
      View Details
    • $245,000
      0.11 Acres

      Two Rivers Apartment Building For Sale

      Four-unit apartment building near Lake Michigan and Neshotah Park.
      1610 Jackson St, Two Rivers, WI 54241
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    • $369,900

      Two-Bedroom Condo with Farmhouse Finishes

      Cozy condo with updated interiors, close to nature and amenities.
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    • $5,000,000
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      Two Rivers Industrial Center

      Wisconsin Industrial Property: $5M
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    Similar Nearby for Lease

    • Contact for pricing
      6,053 SF

      Prime Two Rivers Retail Space

      High-visibility retail space, ample parking.
      1803 Washington St, Two Rivers, WI 54241
      View Details
    • $3 SF/Yr
      318,783 SF

      Two Rivers Industrial Center Investment

      Wisconsin Manufacturing & Distribution Center
      606 Parkway Blvd, Two Rivers, WI 54241
      View Details
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    1816 Washington St
    Two Rivers, WI 54241
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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