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5141 Douglas Ave
Racine, WI 53402
Retail Property For Sale
Investment Highlights
- Opportunity for redevelopment at Greentree Centre!
- The property has plentiful parking with 466 parking stalls | 4.7:1,000 SF parking ratio.
- Property has pylon signage.
- Located on Highway 32 and 4 Mile Road, approximately 2 miles northwest of Racine.
- Built in 1990 with a new roof added in 2012 (warranty through 8.20.27).
Executive Summary
Opportunity to co-anchor Green Tree Centre with the only Pick 'n Save in Caledonia! Located on Highway 32 and 4 Mile Road, approximately 2 miles northwest of Racine, this center has control of the northern full-access point off Highway 32 and a 4.7:1,000 sf parking ratio. Built in 1990, with a new roof added in 2012 (warranty through 8/20/27). This property is zoned for B-3 - Commercial Service District. There is a current lease in place through 5/31/21 with 9 5-year options; the owner is willing to terminate the lease if a buyer or lessee desires.
Property Facts
Sale Type
Investment
Sale Condition
Redevelopment Project
Property Type
Retail
Property Subtype
Freestanding
Building Size
86,476 SF
Building Class
B
Year Built
1990
Price
$3,350,000
Price Per SF
$38.74
Tenancy
Single
Building Height
1 Story
Loading Docks
2 Exterior
Building FAR
0.19
Lot Size
10.20 AC
Zoning
B-3 - Commercial Service District
Parking
466 Spaces (5.39 Spaces per 1,000 SF Leased)
Frontage
347’ on Douglas Ave
Amenities
- Pylon Sign
- Air Conditioning
Property Taxes
| Parcel Number | 104-042320103160 | Improvements Assessment | $818,300 |
| Land Assessment | $906,800 | Total Assessment | $1,725,100 |
Property Taxes
Parcel Number
104-042320103160
Land Assessment
$906,800
Improvements Assessment
$818,300
Total Assessment
$1,725,100
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