Retail Property - Multi Use Potential | 1816 Washington St
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Retail Property - Multi Use Potential 1816 Washington St
50,880 SF Retail Building Two Rivers, WI 54241 $647,000 ($13/SF)
Investment Highlights
- Heavy Daytime Foot Traffic
- 3 levels plus basement all sprinklered
- High Visibility High Traffic location
- Heavy Daytime Traffic as Washington St is State Highway 42
- TIF Eligible for re-development per City of Two Rivers
Executive Summary
Substantial Retail Building located in the heart of the downtown business district in the City of Two Rivers. Would make a great re-development project and is TIF eligible. Property is serviced by an freight elevator that reaches all 4 levels of the building. Main Floor and Basement levels provide 17,280 sq ft each and were used for retail purposes and the 2nd & 3rd floors provide 8,160 sq ft each used for storage. Building has a sprinkler system in place. This property as originally built as the Rivioli Theatre and operated as a Vaudville & Movie Theatre from 1920's to the 1950's. The Seller purchased the property in 1960 renovated it and in 1961 opened for business as Evans Dept Store. Currently tenant of the property is Christian Thrift Store. Great Development potential!
Property Facts
Sale Type
Investment or Owner User
Sale Conditions
Property Type
Retail
Property Subtype
Building Size
50,880 SF
Building Class
C
Year Built/Renovated
1922/1985
Price
$647,000
Price Per SF
$13
Tenancy
Single
Building Height
4 Stories
Loading Docks
1 Exterior
Building FAR
2.85
Lot Size
0.41 AC
Zoning
B-1 - B-1 Zoning
(See attached doc outlining B-1 zoning)
Parking
10 Spaces (0.2 Spaces per 1,000 SF Leased)
Frontage
Amenities
- 24 Hour Access
- Bus Line
- Security System
- Storage Space
- Recessed Lighting
- Air Conditioning
- Fiber Optic Internet
Walk Score ®
Very Walkable (73)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 000-050-010-3 | Improvements Assessment | $256,400 |
| Land Assessment | $54,600 | Total Assessment | $311,000 |
PROPERTY TAXES
Parcel Number
000-050-010-3
Land Assessment
$54,600
Improvements Assessment
$256,400
Total Assessment
$311,000
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Retail Property - Multi Use Potential | 1816 Washington St
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