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Property profile & analytics
OFF-MARKET
Estimated value
$740,000
Strip malls
2211 Lathrop Ave, Racine, WI 53405-4136
Entity Owned
5-yr Hold
~
Est. High Equity
Property ID
US92-0573567
Property profile
Verified
Property type
Strip malls
Use group
SHOPPING CENTER, STRIP CENTER
Year built
1994
Total area
5,408 SF
Lot
0.52 ac (22,564 SF)
Zoning code
B2
APN
276 000023842000
UPID
US92-0573567
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
-
Brands For Less Clothing Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$785k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$740k
Owner & transaction history
Sm Racine LLC · 5 yrs held
Sm Racine LLC
since 2020
Last sale
$720,000
3 recorded transactions
Zoning & alternative use
B2 · Racine, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$565,000
+191.6%
Auto repair, garage
$530,000
+175.6%
Retail stores
$455,000
+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
$735,000
ML approach
$785,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$565,000
Change: +192% · Conversion: Difficult
AUTO REPAIR, GARAGE
$530,000
Change: +176% · Conversion: Difficult
RETAIL STORES
$455,000
Change: +137% · Conversion: Easy
Blend value · Realmo final
$740k
Range $666k – $814k · ±10% · vs last sale $720k (Dec 17 2020)
Last sale anchor
$720k
Dec 17 2020
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
$137 / 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
$16,876
Tax year 2023
Assessed value
$646,000
Assessed 2023
Previous assessed
$646,000
+0.0% YoY
Effective rate
2.61%
On assessed value
Assessed land
$200,800
Assessed improvement
$445,200
Land market value
$222,384
Improvement market value
$493,056
Total market value
$715,440
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
1994
Heating
YES
Cooling
YES
Stories
1
Total area
5,408 SF
Lot
0.52 ac (22,564 SF)
Zoning code
B2
APN
276 000023842000
UPID
US92-0573567
Jurisdiction
RACINE
Zoning & alternative use
B2 · Racine, WI
Zoning B2 · permitted uses
B2 · 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
RESTAURANT
Est. value
$565,000
AUTO REPAIR, GARAGE
Est. value
$530,000
RETAIL STORES
Est. value
$455,000
RESTAURANT
AUTO REPAIR, GARAGE
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
1994
Heating
YES
Cooling
Yes
Stories
1
Lot
0.52 ac
Current owner
From public records · entity-resolved
Sm Racine LLC
Entity
Mailing address
10534 N LIVERPOOL DR, PEORIA, IL 61615-1197
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 17, 2020
$720,000
Sm Racine LLC
Pantelopoulos Properties LLC
Warranty Deed
$540,000 · Firstsecure Bank & Trust Co
Mar 14, 2017
$575,000
Pantelopoulos Properties LLC
Konstantin G Dimitropoulos
Deed
$431,250 · Peoples State Bank
Jun 21, 2005
—
Dimitropoulos,k G & T Trust
Dimitropoulos,konstantine G & Tina P
Quit Claim Deed
related
—
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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