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228 Main St
Racine, WI 53403
Retail Property For Sale
Investment Highlights
- Currently Leased to an established restaurant
- Attached parking structure for tenants and patrons
- Two top-rated AirBNB apartments
Executive Summary
This is a rare opportunity to acquire a spectacular income-generating building (restaurant business not included) in Downtown Racine, just steps from Lake Michigan. Featuring historic architecture, the almost 5,000 sqft building with coveted Cream City Brick has been kept in superb condition. A reliable, established restaurant leases the desirable street-level space, while the upstairs features two top-rated AirBNB apartments for immediate high-yield cash flow. Each one-bedroom apartment is 1,200 sqft or there is an adjoining door to combine. Units have been updated including modern amenities, plus tenants and patrons alike benefit from a convenient, attached parking structure. Don't let this investment opportunity pass you by. Apt1 currently rented MTM thru 4/1/2026 at $1,250 per month.
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Building Size
4,872 SF
Building Class
C
Year Built
1886
Price
$650,000
Price Per SF
$133.42
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
2.00
Lot Size
0.06 AC
Opportunity Zone
Yes
Zoning
B4 - General business
Frontage
37’ on Main St
Amenities
- 24 Hour Access
- Restaurant
- Signage
- Wheelchair Accessible
- Storage Space
- Air Conditioning
Property Taxes
| Parcel Number | 276-000000075000 | Improvements Assessment | $372,000 |
| Land Assessment | $19,000 | Total Assessment | $391,000 |
Property Taxes
Parcel Number
276-000000075000
Land Assessment
$19,000
Improvements Assessment
$372,000
Total Assessment
$391,000
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