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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    3900 Erie St Racine, WI 53402

    • Community centers
    • 91,381 SF
    • 6.62 lot acres
    For Lease
    View listing
    $15 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US92-0140964
    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.

    Current Use by Public Records

    • Razor Sharp Fitness / Gym & Fitness Center
    • Main Moon Chinese Restaurant / Restaurant
    • Redbox / Cinema / (Bike/Boat/Book/etc) Store
    • Piggly Wiggly / Grocery & Convenience Store / Food Market
    • BrownSuga Nails & Beauty Supply Store / (Bike/Boat/Book/etc) Store / Cosmetic Store

    Property Details for 3900 Erie St

    Year built
    1960
    Lot size
    6.62 lot acres
    Property size
    91,381 SF
    Zone code
    B2
    Property type
    Community centers
    APN
    276 000005969003
    APU
    276000005969003

    Description

    This exceptional retail opportunity presents 91,381 square feet of space within the Shorecrest Shopping Center, located at 3900 Erie St, Racine, WI 53402, at the cross streets of Erie & 3 Mile Road. The single-story building offers a variety of spaces, perfect for a range of retail businesses. Currently, there are 17,995 square feet of vacant space available, divisible into units as small as 1,300 square feet and up to a maximum contiguous space of 7,320 square feet. Five individual spaces are currently available for lease. The property boasts ample parking with 394 spaces for customer convenience. This strip/neighborhood center is strategically positioned in Racine, Wisconsin, offering excellent visibility and accessibility for businesses seeking a thriving retail location. The property is classified as a retail space and is ideal for businesses seeking a well-established location with high foot traffic potential. The property's convenient location and ample parking make it an attractive option for both businesses and customers. This is a fantastic opportunity to establish or expand your retail presence in a vibrant community. Contact us today to learn more about leasing options and availability.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Alternative Use

      Use
      Estimation
      NEIGHBORHOOD: SHOPPING CENTER
      $3,260,000
      Current use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Racine
    County
    Racine
    State
    Wisconsin
    Longitude
    -87.788
    Latitude
    42.769
    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
    $162,931
    $1,182,800
    $5,127,200
    $6,310,000
    -
    $1,309,944
    $5,678,347
    $6,988,291

    Comparable in this City

    • Value Estimation by Request
      6,588 SF

      3739 Douglas Ave

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      3739 Douglas Ave, Racine, WI 53402-3226
      View Details
    • Value Estimation by Request
      11,832 SF

      3841-3845 Douglas Ave

      Neighborhood centers • 11,832 SF
      3841-3845 Douglas Ave, Racine, WI 53402
      View Details
    • Value Estimation by Request
      78,011 SF

      5111-5141 Douglas Ave

      Neighborhood centers • 78,011 SF
      5111-5141 Douglas Ave, Racine, WI 53402
      View Details
    • Value Estimation
      $1,130,000
      12,081 SF

      3841 Douglas Ave

      SHOPPING CENTER, STRIP CENTER • 12,081 SF
      3841 Douglas Ave, Racine, WI 53402-3228
      View Details
    • Value Estimation by Request
      9,401 SF

      3440 Douglas Ave

      WHOLESALE OUTLET, DISCOUNT STORE • 9,401 SF
      3440 Douglas Ave, Racine, WI 53402-3752
      View Details
    • Value Estimation by Request
      1,526 SF

      2515 Douglas Ave

      BAR, TAVERN • 1,526 SF
      2515 Douglas Ave, Racine, WI 53402-4315
      View Details

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      Racine Commercial Land Opportunity

      Commercial land parcel near residential areas, ideal for development.
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    Similar Nearby for Lease

    • $15 SF/Yr
      91,381 SF

      Shorecrest Shopping Center: Racine, WI

      Prime Racine Retail Space Available Now
      3900 Erie St, Racine, WI 53402
      View Details
    • Contact for pricing
      78,011 SF

      Greentree Centre: Retail Space Available

      Racine, WI Strip Center; 1,800 SF Vacant
      5111-5141 Douglas Ave, Racine, WI 53402
      View Details
    • Contact for pricing

      Racine Neighborhood Shopping Center Space

      Neighborhood shopping center anchored by Piggly Wiggly with ample parking.
      3900 Erie St, Racine, WI 53402
      View Details
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    3900 Erie St
    Racine, WI 53402
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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