1816 Washington StTwo Rivers, WI 54241

Property Details for 1816 Washington St

Year built

1922

Lot size

0.41 AC

Property size (Sq ft)

50,880 SF

Zone code

B1

Property type

Retail properties

APN

53-000-050-010.03

APU

5300005001003

Description

This substantial three-story retail building, located in Two Rivers, Wisconsin's vibrant downtown business district, presents a unique redevelopment opportunity. The 33,600 square foot building, situated on a 0.41-acre lot (APN: 0000500103), is currently 50% occupied by a Christian Thrift Store. Originally constructed in 1922 as the Rivioli Theatre, it later served as Evans Department Store after a 1960 renovation. The building features a freight elevator servicing all four levels (including basement), a sprinkler system, and is zoned B-1 Business. The main floor and basement each offer 17,280 square feet of retail space, while the second and third floors provide 8,160 square feet each, previously used for storage. The asking price is $647,000 ($19.26/sq ft). This TIF-eligible property offers significant potential for investors and developers. Note that tenants' fixtures, equipment, and inventory are excluded from the sale. The building's rich history and central location make it an attractive investment.

• CAP approach

  CAP return

  Valuation

  6%

  $13,504,872

  6.5%

  $12,466,036

  7%

  $11,575,605

• Comparable approach

  Method

  Valuation

  Relative Method

  $13,017,059

  Geo Method

  $16,700,342

• Alternative Use

  Use

  Valuation

  Residential

  $10,515,568

  Hospitality

  $9,632,204

  Educational

  $8,013,880

  Medical

  $8,289,490

  Retail

  $12,466,036

Location Insight

City

Two Rivers

County

Manitowoc

State

Wisconsin

Latitude

44.1504

Longitude

-87.5687

CBSA code

31820

CBSA name

MANITOWOC, WI MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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