1949 State St Racine, WI 53404

This exceptional retail property, located at 1949 State Street in Racine, Wisconsin, presents a compelling investment opportunity. The 600-square-foot building, situated on a sizable 0.26-acre lot, is currently operating as a bar or fast-food establishment, offering significant potential for expansion. Built in 1957 and renovated in 2012 (with an additional $30,000 in tenant-funded renovations), the property boasts a Class D rating and is currently 100% occupied under a gross lease expiring June 22, 2026 (approximately 1.6 years remaining). The current Net Operating Income (NOI) is $7,700, yielding a 3.50% cap rate. However, a pro-forma NOI of $10,000 projects a 4.55% cap rate, highlighting the property's strong upside potential. The asking price is $220,000, translating to a price per square foot of $366.67. Ample parking is available with 40 spaces. This single-unit property offers immediate income generation and significant long-term growth prospects, making it an attractive investment for both owner-users and investors seeking a strong return in a desirable Racine location. The property's strategic location on a busy street further enhances its appeal.