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Property profile & analytics
OFF-MARKET
Estimated value
$7,150,000
Outlet malls
2433 Grn Bay Rd, Racine, WI 53406-4923
Entity Owned
5-yr Hold
Absentee Owner
Free & Clear
Property ID
US92-1198862
Property profile
Verified
Property type
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Year built
1991
Total area
44,874 SF
Lot
4.8 ac (209,132 SF)
Zoning code
B2
APN
276 000023876042
UPID
US92-1198862
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
-
Burlington Coat Factory Clothing Store
-
Burlington Clothing Store Baby Clothing Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$7.80M
CAP Approach
CAP
$7.03M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$7.15M
Owner & transaction history
Realty Income Properties 3 LLC · 5 yrs held
Realty Income Properties 3 LLC
since 2020
Last sale
$7.1M
7 recorded transactions
Zoning & alternative use
B2 · Racine, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$7.6M
+215.6%
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
$7,305,000
ML approach
$7,800,000
CAP Approach
CAP Return
Estimation
6%
$7,610,000
6.5%
$7,025,000
7%
$6,520,000
Alternative Use
Use
Estimation
RESTAURANT
$7,630,000
Change: +216% · Conversion: Easy
Blend value · Realmo final
$7.15M
Range $6.44M – $7.87M · ±10% · vs last sale $7.13M (May 6 2020)
Last sale anchor
$7.13M
May 6 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
$159 / 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
$68,674
Tax year 2023
Assessed value
$2,754,000
Assessed 2023
Previous assessed
$2,754,000
+0.0% YoY
Effective rate
2.49%
On assessed value
Assessed land
$1,255,600
Assessed improvement
$1,498,400
Land market value
$1,390,570
Improvement market value
$1,659,470
Total market value
$3,050,040
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
Outlet malls
Use group
WHOLESALE OUTLET, DISCOUNT STORE
Status
Off-Market
Year built
1991
Heating
YES
Cooling
YES
Stories
1
Total area
44,874 SF
Lot
4.8 ac (209,132 SF)
Zoning code
B2
APN
276 000023876042
UPID
US92-1198862
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
$7.6M
RESTAURANT
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
1991
Heating
YES
Cooling
Yes
Stories
1
Lot
4.8 ac
Current owner
From public records · entity-resolved
Realty Income Properties 3 LLC
Entity
Free & Clear · 5 yrs held
Mailing address
11995 EL CAMINO REAL, SAN DIEGO, CA 92130-2539
Mailing matches property
Different — outreach signal
Owner-occupied
No
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
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Aug 10, 2020
—
Realty Income Properties 3 LLC
Erin Leatham
Correction Deed
related
—
May 6, 2020
$7,133,400
Realty Income Properties 3 LLC
Kla Dev Portfolio Owner LLC
Grant Deed
—
Jan 29, 2019
$1,400,000
Kla Dev Portfolio Owner LLC
Tru Trust 2016 LLC
Grant Deed
$65,500,000 · Loancore Cap Credit Reit LLC
Sep 7, 2018
—
Tru Trust 2016 LLC
Toys R Us Property Co II
Grant Deed
—
Nov 10, 2016
—
Toys R Us Property Co II LLC
—
Deed
related
$1,024,000,000 · Bank Of America
Dec 10, 2009
—
Toys R Us Property Co II LLC
—
Deed Of Trust
related
$725,000,000 · Bank Of Ny Mellon
Aug 11, 2005
$5,800,000
Giraffe Properties LLC
Toys R Us-delaware INC
Deed Of Trust
related
$425,000,000 · German American Capital Corp
—
—
Toys R Us Property Co II LLC
—
Deed Of Trust
related
$1,024,000,000 · Bank Of America
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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