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Property profile & analytics
OFF-MARKET
Commercial kitchens
550 3rd Mile Rd Racine, WI 53402-3024
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US92-0743557
Property profile
Verified
Property type
Commercial kitchens
Use group
TAKE-OUT RESTAURANT
Year built
1964
Total area
1,710 SF
Lot
0.42 ac (18,208 SF)
Zoning code
B2
APN
276 000005955001
UPID
US92-0743557
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
-
Pico's Tacos and Cerveza Restaurant
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Picos Properges LLC · 6 yrs held
Picos Properges LLC
since 2020
Last sale
$259,000
5 recorded transactions
Zoning & alternative use
B2 · Racine, WI
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
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
$7,791
Tax year 2023
Assessed value
$217,000
Assessed 2023
Previous assessed
$207,000
+4.8% YoY
Effective rate
3.59%
On assessed value
Assessed land
$72,900
Assessed improvement
$144,100
Land market value
$80,736
Improvement market value
$159,589
Total market value
$240,325
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
Commercial kitchens
Use group
TAKE-OUT RESTAURANT
Status
Off-Market
Year built
1964
Heating
YES
Stories
1
Bathrooms
1
Total area
1,710 SF
Lot
0.42 ac (18,208 SF)
Zoning code
B2
APN
276 000005955001
UPID
US92-0743557
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.
Building & site characteristics
From public records
Year built
1964
Heating
YES
Stories
1
Bathrooms
1
Lot
0.42 ac
Current owner
From public records · entity-resolved
Picos Properges LLC
Entity
Mailing address
1309 CLEVELAND AVE, RACINE, WI 53405-2931
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
5 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 6, 2020
$259,000
Picos Properges LLC
Gk Paramount LLC
Warranty Deed
$590,000 · Educators Cu
Aug 5, 2009
$500
Gk Paramount LLC
Vanbree,joseph H & Kathy
Warranty Deed
—
May 18, 2005
$150,000
Gk Paramount LLC
Vanbree,joseph H & Kathy
Grant Deed
related
—
—
—
Joseph Vanbree
—
Deed Of Trust
related
$40,000 · Tri City National Bank
—
—
Gk Paramount LLC
—
Deed Of Trust
related
$79,011 · Associated Bank
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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