212 4th St - Loft/Creative Space FOR SALE


Racine, WI 53403- Downtown Racine
$5,500,000 USD
414-916-4252
212 4th St, Racine, WI for Sale
$5,500,000 USD
Loft/Creative Space - FOR SALE
1/3
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212 4th St
Racine, WI 53403
Downtown Racine


HIGHLIGHTS

  • Downtown Racine along the Root River; Tenanted buildings with sale/leaseback, owner/user or return to manufacturing possibilities
  • Overhead doors, elevators, offices, endless possibility
  • Two masonry buildings with parking along the Root River with 50 Parking Spaces
  • 8.99% CAP Rate
  • 90% Full

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$5,500,000 USD

PRICE/SF

$87 USD /SF

CAP RATE

8.99%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Racine Journal Times

PROPERTY TYPE

Office

PROPERTY SUBTYPE

Loft/Creative Space

ADD'L SUBTYPES

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TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1922

SPRINKLERS

-

PARKING SPACES

50

LAND DETAILS

LAND ACRES

0.79 AC

LAND SF

34,412 SF

ZONING

B4

APN/PARCEL ID

276-000000123000

ASK ABOUT THIS PROPERTY

Tami SwantoNAI PfefferleMore Info
414-916-4252

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Tami SwantoNAI PfefferleMore Info
414-916-4252

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.