Racine, Wisconsin, offers a unique opportunity for investors to tap into the city's rich industrial history and diverse economy. With a strong presence of heavy equipment manufacturing, cleaning and chemical products, and heat exchangers, Commercial Real Estate in Racine presents a solid investment opportunity. Commercial Real Estate encompasses a broad range of properties, including office buildings, retail spaces, and industrial facilities, each offering distinct investment potential. Racine's strategic location, situated 22 miles south of Milwaukee and approximately 60 miles north of Chicago, provides easy access to major transportation hubs and a skilled workforce. The city's infrastructure, including the Belle Urban System and Batten International Airport, supports businesses and industries. Additionally, Racine is home to notable companies like S. C. Johnson & Son and J. I. Case, and its historic districts and buildings, such as the Johnson Wax Headquarters designed by Frank Lloyd Wright, add to the city's appeal.
Currently, there are 32 Commercial Real Estate listings available in Racine, offering a range of investment opportunities. The average price per square foot for Commercial Real Estate in Racine is $173 USD, with an average size of 40,090 square feet. The largest property available is 223,206 square feet. Industrial Properties in Racine offer access to major transportation hubs and a skilled workforce, making them an attractive option for manufacturers and distributors. Apartment Buildings in Racine provide a stable source of income, with a diverse range of tenants and a strong demand for housing. Office Properties in Racine offer a professional environment, with many buildings featuring modern amenities and convenient locations. Hotels in Racine cater to the city's tourism industry, with attractions like the Wind Point Lighthouse and the Racine Symphony Orchestra drawing visitors from across the region. Overall, Racine's Commercial Real Estate market presents a unique blend of industrial, commercial, and cultural attractions, making it an attractive destination for investors and businesses alike.
What financing options are available for purchasing commercial real estate?
When it comes to financing options for purchasing commercial real estate in Racine, Wisconsin, there are several alternatives to consider, including:
- Traditional commercial mortgages offered by banks and credit unions, which typically require a 20-30% down payment and offer fixed or adjustable interest rates;
- Small Business Administration (SBA) loans, which provide more favorable terms, such as lower down payments and longer repayment periods, for small businesses and startups;
- Private money lenders and hard money loans, which offer short-term, high-interest financing options for investors and developers who need quick access to capital.
How do cap rates factor into commercial real estate purchases?
When considering commercial real estate purchases in Racine, Wisconsin, cap rates play a crucial role in determining the potential return on investment. With an average cap rate of 7.56%, investors can gauge the property's potential income-generating ability, making it an essential factor in their decision-making process - to learn more about cap rates, check out our article on what is a cap rate.
In Racine, where there are currently 32 commercial listings available, ranging from 40,090 square feet to 223,206 square feet, and priced at an average of $173 USD per square foot, understanding cap rates can help investors navigate the market and make informed decisions about their commercial real estate investments.
What is considered a commercial property?
In Racine, Wisconsin, a commercial property is typically defined as a building or land used for business or commercial purposes, such as office spaces, retail stores, restaurants, warehouses, and manufacturing facilities, which can be found among the 32 available listings of Commercial Real Estate for sale in the area.
These properties can range in size from 40,090 square feet to 223,206 square feet, with an average price per square foot of $173 USD and an average cap rate of 7.56%, making Racine an attractive location for businesses and investors alike.
