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Key Details
Sold Price $880,000
Property Type Commercial
Sub Type Office(s),Service,Retail
Listing Status Sold
Purchase Type For Sale
Square Footage 12,360 sqft
Price per Sqft $71
MLS Listing ID 1880875
Sold Date 08/13/24
Year Built 1928
Annual Tax Amount $13,602
Tax Year 2023
Lot Size 5,227 Sqft
Acres 0.12
Property Sub-Type Office(s),Service,Retail
Property Description
Cash flow, location, character... Don't sleep on this great downtown mixed use property. Over a 9 cap at acquisition with room to grow rents and find yourself sitting on a double digit cap rate in short order. 12 apartments, 2 storefronts, 2 storage areas and a garage gives an investor numerous avenues to generate income. Outstanding location in the heart of the 6th street corridor and adjacent to the Machinery Row land earmarked for future development. Beautiful brick building with masonry details from a bygone era of true craftsmanship. Retail is fully leased to 2 great users, a half-floor storage tenant and apartments are a breeze to keep fully occupied in a building with this location and beauty. Bring your buyers and make your offers, this one will have a big fan base for sure!
Location
State WI
County Racine
Zoning B4
Rooms
Basement Full
Interior
Heating Natural Gas
Cooling Hot Water/Steam
Exterior
Exterior Feature Brick, Brick/Stone, Stone
Roof Type Rubber/Membrane
Building
Sewer Municipal Sewer, Municipal Water
New Construction N
Others
Special Listing Condition Arms Length
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