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Property profile & analytics
OFF-MARKET
Estimated value
$750,000
Investment properties
949 Washington Ave Racine, WI 53403-1365
Entity Owned
3-yr Hold
~
Est. High Equity
Property ID
US92-0140959
Property profile
Verified
Property type
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Year built
1931
Total area
8,285 SF
Lot
0.07 ac (3,223 SF)
Zoning code
B3
APN
276 000003698000
UPID
US92-0140959
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$785k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$750k
Owner & transaction history
Cnd Property Management II LLC · 3 yrs held
Cnd Property Management II LLC
since 2023
Last sale
$725,000
7 recorded transactions
Zoning & alternative use
B3 · 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
Method
Estimation
Statistic approach
$760,000
ML approach
$785,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
COMMERCIAL (GENERAL)
$475,000
Current use
Blend value · Realmo final
$750k
Range $675k – $825k · ±10% · vs last sale $725k (Mar 14 2023)
Last sale anchor
$725k
Mar 14 2023
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
$91 / 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
$8,942
Tax year 2023
Assessed value
$343,000
Assessed 2023
Previous assessed
$326,000
+5.2% YoY
Effective rate
2.61%
On assessed value
Assessed land
$9,200
Assessed improvement
$333,800
Land market value
$10,188
Improvement market value
$369,681
Total market value
$379,869
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
Investment properties
Use group
OFFICE/RESIDENTIAL (MIXED USE)
Status
Off-Market
Year built
1931
Heating
FLOOR/WALL FURNACE
Stories
3
Units
16
Bathrooms
16
Total area
8,285 SF
Lot
0.07 ac (3,223 SF)
Zoning code
B3
APN
276 000003698000
UPID
US92-0140959
Jurisdiction
RACINE
Zoning & alternative use
B3 · Racine, WI
Zoning B3 · permitted uses
B3 · 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
COMMERCIAL (GENERAL) Current
Est. value
$475,000
COMMERCIAL (GENERAL) Current
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
1931
Heating
FLOOR/WALL FURNACE
Stories
3
Units
16
Bathrooms
16
Lot
0.07 ac
Current owner
From public records · entity-resolved
Cnd Property Management II LLC
Entity
Ownership since
2023
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 14, 2023
$725,000
Cnd Property Management II LLC
617 LLC
Land Contract
$725,000 · Not Available
Jul 5, 2016
—
617 LLC
—
Deed
related
$100,000 · Us Bank NA
Jun 7, 2016
—
617 LLC
—
Deed
related
$250,000 · Us Bank NA
Apr 1, 2011
$270,228
M I Marshall Bk
Sheriff Of Racine County
Trustees Deed
related
—
—
—
617 LLC
—
Deed Of Trust
related
$268,884 · M & I Marshall & Isley Bank
—
—
617 LLC
—
Deed Of Trust
related
$268,884 · M & I Marshall & Isley Bank
—
—
617 LLC
—
Deed Of Trust
related
$268,884 · M & I Marshall & Isley 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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