NOT LISTED FOR SALE

3505 Spring St Racine, WI 53405

West Racine Neighborhood

Estimated Value: $350,050

Studio
-- Bath
1,473 Sq Ft
$238/Sq Ft Est. Value

Last Sold December 09, 2021

Last sale price $254,000 $172 Per Sq Ft

Est. 38% increase in value since last sale

Current estimated payment $2,671/month

120 Days on Market

About This Home

As of December 2021

Here is your opportunity to own your own business. Currently being rented out for $2930 per month, lease is until August 2021. See Equipment list for everything included. This is pretty much turn key and start your own restaurant/drive thru. Plenty of parking. Prime Location close to the hospital. High traffic area. New roof on building. Huge covered patio area. Dine-in area inside. Everything you need is inside, 2 walk in cooler/freezers, grills and fryers and so much more. Make your appointment today and start making your dream of owning your own restaurant/business a reality.

Last Agent to Sell the Property

Carl Casarez

Coldwell Banker Realty License #54234-94 Listed on: 06/09/2021

Coldwell Banker Realty

Last Buyer's Agent

Jan Fuller

RE/MAX Newport License #48562-94

RE/MAX Newport

Property Details

Property Type

  • Other

Lot Details

  • 0.43

Parking

  • 27 Parking Spaces

Home Design

  • 1,473 Sq Ft Home
  • Composition Roof

Additional Features

  • 0.43 Acre Lot
  • Central Air

Listing and Financial Details

  • Exclusions: Tenants personal property
  • Assessor Parcel Number 228660001

Property Details

Property Type

Other

Lot Details

0

Listing Details

  • Property Sub Type: Commercial/Industrial
  • Prop. Type: Comm/Industrial
  • Business Type: Restaurant, Other
  • Lot Size Acres: 0.43
  • Road Frontage Type: Town/City Road
  • Inclusions: See Equipment list
  • Directions: Spring St., east of Hwy. 31
  • Property Information:Est Total Sq Ft: 1473
  • Special Features: None

Interior Features

  • Has Basement: None
  • ResoLivingAreaSource: Other

Exterior Features

  • Exclusions: Tenants personal property
  • Construction Type: Aluminum, Other
  • Roof: Composition

Garage/Parking

  • Total Parking Spaces: 27

Utilities

  • Green Building Features: Pole Sign, Rest Rooms, Other
  • Cooling: Central Air
  • Cooling Y N: Yes
  • Sewer: Municipal Sewer

Lot Info

  • Lot Size Sq Ft: 18730.8
  • Parcel #: 228660001

Rental Info

  • Land Lease Amount: 2930

Tax Info

  • Tax Annual Amount: 7882
  • Tax Year: 2020

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Jun 9, 2021
Closed on
Dec 9, 2021
Sold by
35Q5 Spring Street Llc
Bought by
Picos Properties Llc
Seller's Agent
Carl Casarez
Coldwell Banker Realty
Buyer's Agent
Jan Fuller
RE/MAX Newport
List Price
$254,000
Sold Price
$254,000
Current Estimated Value
$350,050

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$96,050
Avg. Annual Appreciation
8.14%
Original Mortgage
$203,200
Outstanding Balance
$134,241
Interest Rate
3.09%
Mortgage Type
Purchase Money Mortgage
Estimated Equity
$215,809

Purchase Details

Closed on
Jul 8, 2008
Sold by
M & I Marshall & Ilsley Bank
Bought by
3505 Spring Street Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$160,000
Interest Rate
6.1%
Mortgage Type
Commercial

Purchase Details

Closed on
Jan 23, 2008
Sold by
All Boys Llc
Bought by
M & I Marshall & Ilsley Bank

Purchase Details

Closed on
May 3, 2006
Sold by
Becker Richard O and Becker Elenor J
Bought by
All Boys Llc

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$296,500
Interest Rate
6.56%
Mortgage Type
Future Advance Clause Open End Mortgage
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
Not Available
List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Picos Properties Llc $254,000 Land Title Services Inc
3505 Spring Street Llc $205,000 None Available
M & I Marshall & Ilsley Bank $220,000 --
All Boys Llc $275,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open Picos Properties Llc $203,200
Previous Owner 3505 Spring Street Llc $160,000
Previous Owner All Boys Llc $20,000
Previous Owner All Boys Llc $296,500
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
12/09/2021 12/09/21 Sold $254,000 0.0% $172 / Sq Ft
10/07/2021 10/07/21 Pending -- -- --
06/09/2021 06/09/21 For Sale $254,000 -- $172 / Sq Ft
Source: Metro MLS

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $10,083 $288,000 $64,700 $223,300
2023 $9,595 $288,000 $64,700 $223,300
2022 $8,215 $288,000 $64,700 $223,300
2021 $8,605 $288,000 $64,700 $223,300
2020 $8,144 $288,000 $64,700 $223,300
2019 $8,039 $268,000 $64,700 $203,300
2018 $7,410 $250,000 $64,700 $185,300
2017 $9,370 $250,000 $64,700 $185,300
2016 $8,458 $250,000 $64,700 $185,300
2015 $7,870 $250,000 $64,700 $185,300
2014 $7,870 $250,000 $64,700 $185,300
2013 $7,870 $250,000 $72,800 $177,200
Source: Public Records

Agents Affiliated with this Home

  • C

    Seller's Agent in 2021

    Carl Casarez

    Coldwell Banker Realty

    (414) 277-9500

    2 in this area

    68 Total Sales

    Carl Casarez
    Section Image
  • Jan Fuller

    Buyer's Agent in 2021

    Jan Fuller

    RE/MAX

    (262) 930-5849

    1 in this area

    48 Total Sales

    Jan Fuller
    Section Image
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Map

Source: Metro MLS

MLS Number: 1745271

Metro MLS

APN: 276-000022866001

Wisconsin Racine County Racine 53405 West Racine

3505 Spring St, Racine, WI

Not Listed for Sale

Other

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