1301 Washington AveRacine, WI 53403

Property Details for 1301 Washington Ave

Year built

1920

Lot size

0.03 AC

Property size (Sq ft)

2,400 SF

Zone code

B2

Property type

Mixed-use properties

Property subtype

Other investment properties

APN

276 000008872000

APU

276000008872000

Description

This 2,400 square foot warehouse, located at 1301 Washington Ave in Racine, Wisconsin, presents a compelling investment opportunity. Built in 1920, this two-story building sits on a 0.03-acre lot and is zoned B-2. The warehouse boasts ceiling heights ranging from 11 to 15 feet, providing ample vertical space. Fifteen parking spaces are available on-site. The property's APN is 08872000 and the zip code is 53403. This property is ideally situated in a revitalized area of Racine, offering potential for strong returns. While previously used as a sports bar with an attached rental unit, the property's zoning allows for a variety of commercial uses. The building's history and location within a thriving community contribute to its unique appeal. The potential for city grants for business improvements further enhances the investment prospects. This property offers a blend of historical charm and modern potential, making it an attractive option for discerning investors seeking a versatile commercial space in a dynamic urban setting.

• CAP approach

  CAP return

  Valuation

  6%

  $433,348

  6.5%

  $400,014

  7%

  $371,442

• Comparable approach

  Method

  Valuation

  Relative Method

  $243,656

  Geo Method

  $312,600

• Alternative Use

  Use

  Valuation

  Residential

  $496,017

  Hospitality

  $454,349

  Educational

  $378,013

  Medical

  $391,014

  Retail

  $588,021

Location Insight

City

Racine

County

Racine

State

Wisconsin

Latitude

42.7169

Longitude

-87.7957

CBSA code

39540

CBSA name

RACINE, WI METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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