232 Main StRacine, WI 53403

Property Details for 232 Main St

Year built

1890

Lot size

0.05 AC

Property size (Sq ft)

2,499 SF

Zone code

B4

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

276 000000077000

APU

276000000077000

Description

This exceptional commercial property, located at 232 Main Street in Racine, Wisconsin, 53403, presents a unique opportunity for businesses seeking a vibrant downtown location. The property is classified as Class C and offers a total of 2,500 square feet, with 1,250 square feet currently available for lease. The space is adaptable to various uses, including traditional office, coworking, and creative office settings, as indicated by its versatile design and zoning. The building features attractive architectural details such as exposed brick, beautiful woodwork, and tin ceilings, creating a charming and inviting atmosphere. The storefront is highly visible, ensuring excellent exposure to the significant foot traffic on Main Street. The property also includes a convenient, small back patio, ideal for outdoor seating or displays. Ample parking is available nearby, enhancing accessibility for clients and employees. The lease is a Net Net Net (NNN) agreement with a minimum two-year term. A background check and proof of income are required, along with a $30 application fee. This property offers a blend of historical charm and modern practicality, making it an ideal location for a business seeking to thrive in the heart of downtown Racine. The available space is perfect for a variety of businesses looking to establish a presence in this bustling and growing community.

• CAP approach

  CAP return

  Valuation

  6%

  $451,224

  6.5%

  $416,515

  7%

  $386,764

• Comparable approach

  Method

  Valuation

  Relative Method

  $253,706

  Geo Method

  $325,495

• Alternative Use

  Use

  Valuation

  Residential

  $516,478

  Hospitality

  $473,091

  Educational

  $393,606

  Medical

  $407,143

  Retail

  $612,276

Location Insight

City

Racine

County

Racine

State

Wisconsin

Latitude

42.7311

Longitude

-87.784

CBSA code

39540

CBSA name

RACINE, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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