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Listed by Jason Bittonof RE/MAX Suburban
$200,000
Est. payment /mo
7,400 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Industrial
Listing Status Active Under Contract
Purchase Type For Sale
Square Footage 7,400 sqft
Price per Sqft $27
MLS Listing ID 12782766
Year Built 1920
Annual Tax Amount $3,426
Tax Year 2025
Lot Size 8,276 Sqft
Lot Dimensions 52 X 145
Property Sub-Type Industrial
Property Description
NNN-Leased Industrial Building | 7,400 SF | 13.6 Cap. Offered at $200,000 ($27.03 per SF), this single-tenant brick showroom and warehouse building has approximately 7,400 SF and sits on the northeast corner of 22nd St and 9th Ave in Rockford. The entire building is leased to Reliable Parts, Inc. under an NNN lease at $2,266 per month ($27,192 per year) through May 31, 2027, with two one-year options at $2,333.98 and then $2,404.00 per month. The base rent represents a 13.6 cap rate at the asking price. Under the lease, the tenant reimburses the real estate taxes, the landlord's insurance premiums and routine maintenance, and pays for its utilities. The landlord retains responsibility for capital repairs over $2,500 and the structure. The front building (about 4,000 SF) has a storefront entrance on 22nd St, a retail and office area with one restroom, and a warehouse with 13'3" clear height and a raised box-truck door on 9th Ave. The 3,400 SF rear building has an 8' x 8' drive-in door. There is room for about 12 cars to park head-in along 9th Ave. The property is zoned I-1 Light Industrial (City of Rockford) and is in FEMA flood Zone X. Two tax parcels convey. Buyer to verify all information.
Location
State IL
County Winnebago
Zoning INDUS
Interior
Cooling Window Unit(s), Office Only
Fireplace N
Exterior
View Y/N true
Building
Structure Type Brick,Block
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Joanna Lewkowicz
Designated Managing Broker | Owner 471.018027471018027
+1(708) 963-0011 | joanna@boutiquehomerealty.com