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Property profile

240 Main St Racine, WI 53403

OFF-MARKET
Investment properties
Property ID
US92-0089947
View Sample
16,280 SF 0.16 ac lot Built 1890
Individually Owned 18-yr Hold ~ Est. High Equity

Property summary

AI-generated overview

This exceptional 2,500 square foot commercial space, located at 240 Main Street in the heart of downtown Racine, Wisconsin, presents a fantastic opportunity for a variety of businesses. Previously operating as a successful restaurant, the property boasts a substantial bar area, ample space for customer seating, and a large, inviting storefront with extensive window frontage, ensuring excellent visibility and natural light. The kitchen area has undergone recent renovations, featuring a brand new floor, durable FRP wall coverings, and freshly painted storage rooms. This turnkey space is ready for immediate occupancy and offers significant potential for customization to suit a wide range of commercial ventures. The property is situated in a vibrant downtown area, providing easy access to local amenities, transportation, and a strong customer base. The absence of an acre lot indicates the property is ideally suited for businesses that don't require extensive outdoor space. The asking price of $2200 suggests a highly competitive rental rate for a property of this size and location in downtown Racine. This is an exceptional opportunity to establish or relocate your business in a thriving commercial district. The flexible layout and recent updates make this space an attractive proposition for entrepreneurs seeking a well-maintained and conveniently located property.

Property profile

Verified
Property type Investment properties
Use group OFFICE/RESIDENTIAL (MIXED USE)
Year built 1890
Total area 16,280 SF
Lot 0.16 ac (6,752 SF)
Zoning code B4
APN 276 000000080000
UPID US92-0089947

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Restaurant
  • Specialty Food Shop Wine and Liquor Store

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$782k
Blend (final) Blend
$360k

Owner & transaction history

since 2007
6 recorded transactions
2018
Price N/A
2007
Price N/A
2006
$800,003
1969
Price N/A
1969
Price N/A
1969
Price N/A

Zoning & alternative use

B4 · Racine, WI

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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