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Property profile & analytics
OFF-MARKET
Estimated value
$2,180,000
Strip malls
2005 Lathrop Ave Racine, WI 53405-3758
Entity Owned
3-yr Hold
Free & Clear
Property ID
US92-0306352
Property summary
AI-generated overview
This exceptional retail property, located at 2005 Lathrop Ave in Racine County, offers 65,118 square feet of prime commercial space. Currently, 30,475 square feet is available for lease, divisible into units ranging from 1,850 to a maximum contiguous 13,255 square feet. The property boasts a highly desirable B2 zoning designation and sits on a substantial 4.82-acre lot. Built in 1958, the building features two suites and provides ample parking with 298 spaces. Benefit from exceptional visibility, with approximately 8,000 vehicles passing daily on Lathrop Avenue and 13,600 on 21st Street, according to Wisconsin Department of Transportation data. The property's convenient location is directly on a public transportation line, enhancing accessibility. Operational features include a loading dock and/or drive-in door, plus a full basement for added storage or expansion potential. The property's APN is 276 000023786000. This is a rare opportunity to secure a well-positioned retail space in a high-traffic area. Contact us today to learn more about leasing options.
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1958
Total area
28,461 SF
Lot
4.82 ac (209,872 SF)
Zoning code
B2
APN
276 000023786000
UPID
US92-0306352
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
$2.08M
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$2.18M
Owner & transaction history
The Deba Group LLC · 3 yrs held
The Deba Group LLC
since 2023
Last sale
$2.1M
7 recorded transactions
Zoning & alternative use
B2 · Racine, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Source
Zoning Check
Top alternative use upside
Restaurant
$3.0M
+191.6%
Auto repair, garage
$2.8M
+175.6%
Retail stores
$2.4M
+136.9%
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
$2,180,000
ML approach
$2,075,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$2,960,000
Change: +192% · Conversion: Difficult
AUTO REPAIR, GARAGE
$2,800,000
Change: +176% · Conversion: Difficult
RETAIL STORES
$2,405,000
Change: +137% · Conversion: Easy
COMMERCIAL (GENERAL)
$1,945,000
Change: +91% · Conversion: Easy
WAREHOUSE, STORAGE
$1,360,000
Change: +34% · Conversion: Difficult
Blend value · Realmo final
$2.18M
Range $1.96M – $2.40M · ±10% · vs last sale $2.08M (May 8 2023)
Last sale anchor
$2.08M
May 8 2023
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
$77 / 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
$37,372
Tax year 2023
Assessed value
$1,264,000
Assessed 2023
Previous assessed
$1,264,000
+0.0% YoY
Effective rate
2.96%
On assessed value
Assessed land
$575,900
Assessed improvement
$688,100
Land market value
$637,806
Improvement market value
$762,067
Total market value
$1,399,873
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
1958
Heating
NONE
Stories
1
Total area
28,461 SF
Lot
4.82 ac (209,872 SF)
Zoning code
B2
APN
276 000023786000
UPID
US92-0306352
Jurisdiction
RACINE
Zoning & alternative use
B2 · Racine, WIZoning B2 · permitted uses
B2 · Racine, WI
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Zoning Check
Alternative use value scenarios
Repositioning upside vs current use
RESTAURANT
Est. value
$3.0M
AUTO REPAIR, GARAGE
Est. value
$2.8M
RETAIL STORES
Est. value
$2.4M
COMMERCIAL (GENERAL)
Est. value
$1.9M
WAREHOUSE, STORAGE
Est. value
$1.4M
RESTAURANT
AUTO REPAIR, GARAGE
RETAIL STORES
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
1958
Heating
NONE
Stories
1
Lot
4.82 ac
Current owner
From public records · entity-resolved
The Deba Group LLC
Entity
Free & Clear · 3 yrs held
Mailing address
1461 S RIV RD, NEW BERLIN, WI 53151-1463
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
May 8, 2023
$1,550,000
The Deba Group LLC
Vicken Bakiayan
Warranty Deed
—
May 8, 2023
$2,080,000
Lbj Racine Realt LLC
The Deba Group LLC
Warranty Deed
—
Oct 2, 2009
$150,000
Cfb Real Estate LLC
Baklayan,vicken & Zozete
Warranty Deed
—
Nov 16, 2007
$1,460,000
Vicken Baklayan
Lathrop Center LLC
Warranty Deed
$1,168,000 · Marquette Bank
—
—
Lathrop Center LLC
—
Deed Of Trust
related
$10,000 · Johnson Bank
—
—
Lathrop Center LLC
—
Deed Of Trust
related
$150,000 · Johnson Bank
—
—
Vicken Baklayan
—
Deed Of Trust
related
$1,620,388 · Marquette 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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