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Property profile & analytics
OFF-MARKET
Estimated value
$1,035,000
Retail space
500 Main St, Racine, WI 53403
Entity Owned
6-yr Hold
Free & Clear
Property ID
US92-1108966
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Year built
1925
Total area
9,982 SF
Lot
0.39 ac (16,814 SF)
Zoning code
B4
APN
276 000000290000
UPID
US92-1108966
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
-
Electric Vehicle Charging Station Electric Vehicle Charging Station
-
Marguerite Restaurant
-
Hotel Verdant Hotel & Motel
-
Eave Bar & Pub
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$665k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$880k
Blend (final)
Blend
$1.04M
Owner & transaction history
Main Attraction LLC · 6 yrs held
Main Attraction LLC
since 2019
7 recorded transactions
Zoning & alternative use
B4 · Racine, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Restaurant
$1.7M
+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
by Request
ML approach
$665,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
RESTAURANT
$1,695,000
Change: +216% · Conversion: Easy
Blend value · Realmo final
$1.04M
Range $932k – $1.14M · ±10%
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
$104 / 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
$390,569
Tax year 2023
Assessed value
$14,400,000
Assessed 2023
Previous assessed
$725,000
+1,886.2% YoY
Effective rate
2.71%
On assessed value
Assessed land
$200,000
Assessed improvement
$14,200,000
Land market value
$221,498
Improvement market value
$15,726,425
Total market value
$15,947,923
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
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Year built
1925
Heating
FORCED AIR
Stories
4
Total area
9,982 SF
Lot
0.39 ac (16,814 SF)
Zoning code
B4
APN
276 000000290000
UPID
US92-1108966
Jurisdiction
RACINE
Zoning & alternative use
B4 · Racine, WI
Zoning B4 · permitted uses
B4 · 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
$1.7M
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
1925
Heating
FORCED AIR
Stories
4
Lot
0.39 ac
Current owner
From public records · entity-resolved
Main Attraction LLC
Entity
Free & Clear · 6 yrs held
Mailing address
2025 N SMT AVE STE #200, MILWAUKEE, WI 53202-1362
Ownership since
2019
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
Mar 31, 2023
—
The Main Attraction LLC
—
Deed
related
$2,164,886 · Untamed Equity LLC
Dec 20, 2021
—
The Main Attraction LLC
—
Deed
related
$6,205,004 · Fire Subsidiary Cde 35 LLC
Oct 23, 2019
$319,500
Main Attraction LLC
Rjam2racine LLC
Warranty Deed
—
Oct 23, 2019
$958
Rjam2racine LLC
Main Attraction LLC
Quit Claim Deed
related
—
Oct 9, 2018
$1,100,000
The Main Attraction LLC
500 Main Street LLC
Warranty Deed
$660,000 · Old National Bank
Jan 26, 2016
$275,000
500 Main Street LLC
Tri Cty Natl Bk
Warranty Deed
—
Oct 19, 2010
—
Tri Cty Natl Bk
Bank Of Elmwood
Quit Claim Deed
—
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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