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Racine Journal Times 212 4th St 63,000 SF 90% Leased Office Building Racine, WI 53403 $5,500,000 ($87.30/SF) 8.99% Cap Rate
INVESTMENT HIGHLIGHTS
- Downtown Racine along the Root River; Tenanted buildings with sale/leaseback, owner/user or return to manufacturing possibilities
- Two masonry buildings with parking along the Root River with 50 Parking Spaces
- 90% Full
- Overhead doors, elevators, offices, endless possibility
- 8.99% CAP Rate
EXECUTIVE SUMMARY
The well-known Journal Times Buildings, .79 acres, located along the Root River in beautiful downtown Racine. 63,000 SF, 2-story, masonry building on 4th Street with additional 7,000 SF masonry building on Wisconsin Avenue on the Root River with 50 Parking Spaces, overhead doors. This building is stable and tenanted with leases in place and the owner/user would like a leaseback of space currently occupied for the existing business currently in operation. This is an excellent investment and could be used for another owner/user or a return to manufacturing/industrial/storage. $494,442.50 NOI and 8.99% CAP RATE.
PROPERTY FACTS
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Office
Property Subtype
Building Size
63,000 SF
Building Class
C
Year Built/Renovated
1922/2020
Price
$5,500,000
Price Per SF
$87.30
Cap Rate
8.99%
NOI
$494,443
Percent Leased
90%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
31,500 SF
Building FAR
1.83
Lot Size
0.79 AC
Opportunity Zone
Yes
Zoning
B4 - Central Business District
Parking
50 Spaces (0.83 Spaces per 1,000 SF Leased)
AMENITIES
- 24 Hour Access
- Bus Line
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- CONDITION
- AVAILABLE
Flex/light manufacturing or Industrial/Warehouse space available. Single Offices available. Or small suites. Fully furnished.
10,000 SF of 32' clear warehouse and 5,000 SF of production area
Great 2nd floor office space available, move in ready condition.
| Space | Size | Space Use | Condition | Available |
| 1st Floor | 150-7,500 SF | Flex | - | Now |
| 1st Floor | 10,000-15,000 SF | Industrial | - | 90 Days |
| 2nd Floor | 5,500 SF | Office | Full Build-Out | 30 Days |
1st Floor
| Size |
| 150-7,500 SF |
| Space Use |
| Flex |
| Condition |
| - |
| Available |
| Now |
1st Floor
| Size |
| 10,000-15,000 SF |
| Space Use |
| Industrial |
| Condition |
| - |
| Available |
| 90 Days |
2nd Floor
| Size |
| 5,500 SF |
| Space Use |
| Office |
| Condition |
| Full Build-Out |
| Available |
| 30 Days |
1st Floor
| Size | 150-7,500 SF |
| Space Use | Flex |
| Condition | - |
| Available | Now |
Flex/light manufacturing or Industrial/Warehouse space available. Single Offices available. Or small suites. Fully furnished.
1st Floor
| Size | 10,000-15,000 SF |
| Space Use | Industrial |
| Condition | - |
| Available | 90 Days |
10,000 SF of 32' clear warehouse and 5,000 SF of production area
2nd Floor
| Size | 5,500 SF |
| Space Use | Office |
| Condition | Full Build-Out |
| Available | 30 Days |
Great 2nd floor office space available, move in ready condition.
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Walk Score®
Very Walkable (89)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 276-000000123000 | Improvements Assessment | $1,525,900 |
| Land Assessment | $155,400 | Total Assessment | $1,681,300 |
PROPERTY TAXES
Parcel Number
276-000000123000
Land Assessment
$155,400
Improvements Assessment
$1,525,900
Total Assessment
$1,681,300
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Racine Journal Times | 212 4th St
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