$1,400,000 SALE
Commercial-Other
12,250 SF
5002 7th Ave
Kenosha, WI 53140 10 Unit Mixed Use Building I Downtown Kenosha, WI



Paul Proano Properties & Coldwell Banker Commercial Realty has been exclusively chosen to market this no cap ex differed, well maintained mixed used building in Historic Downtown Kenosha, WI. Building has been entirely restored in 2001 with new windows, doors, walls, ceilings, electrical, plumbing and heating system. The features of this building are a mix of office & retail space one the first floor, a 4,000 sq. ft five (5) bedroom & two (2) apartment unit on the second floor which is handicap accessible with chair lifts and a full basement with 6 rentable studios, high ceilings that could be leased for extra passive income. This opportunity sits across the street from Simmons Island Bridge, Boathouse Pub & Marina Gardens Restaurant and only .7 of a mile from the Kenosha Metra Station. This property is an add value by renting out the second floor apartment and leasing out the vacant spaces. Property is in turn key condition so any investor would not have to inject capital for any major improvements.


Property Type Commercial-Other
Year Built 1888
Renovated Year 2001
Level Number 2
Average Floor Size 4,500
Lot Dimensions 66x99
Available Floors 2
Max Continuous Area 3,000
Sub-Lease 10
Zoning B-3 Multi Use
Tax Year 2021
Cap Rate Percentage 7.28
Common Area Factor 1
Average Daily Rate 80
Listing ID 2N69YB
MLS ID 1811716
Style Other Style
Building Size 12,250 SF
Lot Size 0.15 AC
Taxes $8,703

Property Highlights

Building 5000-5002 7th Avenue and 705 50th Street, Kenosha, Wisconsin : 13,500 square feet building with 4200 dry, heated basement. Entirely restored in 2001, with new windows, doors, walls, ceilings, entire electrical, plumbing and heating systems. All masonry repair, replacement, tuck pointing; 2001. Includes 4000 sq ft apartment. Entire building is master keyed via Knox Box. Hard wired fire alarm system, all floors including basement. All HVAC and heating systems replaced, boiler (cast iron) replaced 2015. includes 4000 sq ft apartment currently owner occupied. (See apartment details below). 5002 7th Avenue Suite 200: 4000 square foot apartment, studio, office. This is a third floor unit and is handicap accessible via chair lifts. 2 minutes from Metra station then 1 hour, 20 minutes to Ogilvie Transportation Center, Chicago, IL. Immediately across the street from Kenosha marina with views of marina, park and Lake Michigan. Private bike storage room on 1st floor; 1500 sq feet storage/shop in basement; 1 garage and 3 covered parking spaces (tandem). Entirely new interior in historic building. 2 bath; 2 bedroom; 2 studios; 1 large office. Screened porch. Numerous excellent restaurants and entertainment venues in immediate neighborhood. Numerous lakefront parks, very easy walking distance.

Property Features
Parking Places: 2
Location: Marina, Lakefront, Off Water, Waterfront
Exterior Description: Brick, Other
Water: Municipal Water
Roof: Rubber
Area Description: Historic / Antique, Metropolitan
Cooling: Central A/C
Sewer: City
Flooring: Hardwood, Mixed, Tile
Basement: Finished
Age: Over 50 Years Old
Heating Type: Radiator, Steam Heat
Lot Size: Under 1/2 Acre
Heating - Fuel Type: Gas
Body of Water: Lake
Financials
Gross Income: $141,606
Expenses: $31,664
Fully Leased Income: $141,606
Cash Flow: $102,860
Additional Media Available Space
Available
Expired
Not Available

Suite: 5000 7th Ave

Unit Area
3,000 Square Feet
Rate
$3,000.00 per Month
Half bath: 1
Column Spacing: 20

Thank you for requesting a property evaluation. A Coldwell Banker Commercial professional will be in touch with you soon.