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Mixed Used PLUS Laundromat Business 632 High St 8,000 SF 100% Leased Retail Building Racine, WI 53402 $795,000 ($99.38/SF) 14% Cap Rate
INVESTMENT HIGHLIGHTS
- Heavy Daytime Traffic
- Near Bus Transit
- Ample Unmetered On Street Parking
EXECUTIVE SUMMARY
Mixed Use All Brick Building with TWO Owner Operated Businesses PLUS Apartments!
NOW is YOUR Opportunity to step into this nice INCOME Stream! Meticulously preserved brick structure comes to market offering Laundromat and Smoke Shop businesses (currently operated by Seller), plus warehouse space with overhead door. Upper level offers 3 two bedroom apartments. Unbeatable mechanical systems (ie; 3 phase electric, quick recovery hot water heater system) Each unit has their own separately metered gas furnace, and electric. Step right into this great Investment Opportunity! Call for a tour today!
NOW is YOUR Opportunity to step into this nice INCOME Stream! Meticulously preserved brick structure comes to market offering Laundromat and Smoke Shop businesses (currently operated by Seller), plus warehouse space with overhead door. Upper level offers 3 two bedroom apartments. Unbeatable mechanical systems (ie; 3 phase electric, quick recovery hot water heater system) Each unit has their own separately metered gas furnace, and electric. Step right into this great Investment Opportunity! Call for a tour today!
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$81,000
|
$10.13
|
| Other Income |
$45,000
|
$5.63
|
| Vacancy Loss |
$9,000
|
$1.13
|
| Effective Gross Income |
$117,000
|
$14.63
|
| Taxes |
$5,600
|
$0.70
|
| Operating Expenses |
$391
|
$0.05
|
| Total Expenses |
$5,991
|
$0.75
|
| Net Operating Income |
$111,009
|
$13.88
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $81,000 |
| Annual Per SF | $10.13 |
| Other Income | |
|---|---|
| Annual | $45,000 |
| Annual Per SF | $5.63 |
| Vacancy Loss | |
|---|---|
| Annual | $9,000 |
| Annual Per SF | $1.13 |
| Effective Gross Income | |
|---|---|
| Annual | $117,000 |
| Annual Per SF | $14.63 |
| Taxes | |
|---|---|
| Annual | $5,600 |
| Annual Per SF | $0.70 |
| Operating Expenses | |
|---|---|
| Annual | $391 |
| Annual Per SF | $0.05 |
| Total Expenses | |
|---|---|
| Annual | $5,991 |
| Annual Per SF | $0.75 |
| Net Operating Income | |
|---|---|
| Annual | $111,009 |
| Annual Per SF | $13.88 |
PROPERTY FACTS
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Residential
Building Size
8,000 SF
Building Class
C
Year Built
1920
Price
$795,000
Price Per SF
$99.38
Cap Rate
14%
NOI
$111,300
Percent Leased
100%
Tenancy
Multiple
Building Height
2 Stories
Building FAR
1.41
Lot Size
0.13 AC
Zoning
B2
Parking
6 Spaces (1.44 Spaces per 1,000 SF Leased)
Frontage
54’ on High St
AMENITIES
- Bus Line
Walk Score®
Very Walkable (79)
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 276-000004061000 | Total Assessment | $228,000 |
| Land Assessment | $19,100 | Annual Taxes | $5,600 ($0.70/SF) |
| Improvements Assessment | $208,900 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
276-000004061000
Land Assessment
$19,100
Improvements Assessment
$208,900
Total Assessment
$228,000
Annual Taxes
$5,600 ($0.70/SF)
Tax Year
2024
CONTACT
-
Anna Maria DeRango -
DeRango Real Estate Services
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Mixed Used PLUS Laundromat Business | 632 High St
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