1913 Melvin Ave Racine, WI 53404
Property Lookup
Property profile & analytics
1913 Melvin Ave Racine, WI 53404
- Auto shops
- 5,757 SF
- 1.77 lot acres
Property ID
US92-0944459
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.
Location Intelligence
Current Use by Public Records
- Truck Profix / Auto Repair Shop
Property Details for 1913 Melvin Ave
- Year built
- 1983
- Lot size
- 1.77 lot acres
- Property size
- 5,757 SF
- Zone code
- I2
- Property type
- Auto shops
- APN
- 276 000020936003
- APU
- 276000020936003
Description
This exceptional investment opportunity presents a 5,757-square-foot industrial warehouse located at 1913 Melvin Avenue, Racine, Wisconsin, 53404. The property, built in 1983, sits on a 1.76-acre lot and boasts a 100% occupancy rate with a net lease in place until October 30, 2026. The lease features a tenant, Cardinal Express Logistics, and includes annual rent bumps of 3%. The warehouse features six dock-high doors, a 16-foot ceiling height, and ample parking for 12 semi-trailers, 10 semi-trucks, and 9 cars. The building is constructed of concrete block and offers 6 drive-in bays and 3 drive-through bays. Electrical service includes 600 amp 480/277 volt 3-phase and 400 amp 240 volt 3-phase. The property is zoned I-2 General Industrial and has a 2023 assessed value of $236,000 with taxes totaling $6,016.21. The asking price is $675,000, resulting in a strong 9.16% cap rate and a substantial net operating income (NOI) of $61,800. This is a rare opportunity to acquire a net-leased truck repair building with trailer parking, ensuring a stable income stream for years to come. The property's features and location make it an ideal investment for those seeking a secure and high-return industrial property. The APN is 276-00-00-20936-003.
Value Estimations
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CAP approach
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Alternative Use
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Location Insight
- Map
- Local Demand
- City
- Racine
- County
- Racine
- State
- Wisconsin
- Longitude
- -87.8054
- Latitude
- 42.755
- CBSA code
- 39540
- CBSA name
- RACINE, WI METROPOLITAN 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
$6,016
$44,600
$191,400
$236,000
-
$49,394
$211,974
$261,368
