3616 N Main St, Rockford, IL

Office for Sale - $1,200,000 - 1 Sq. Ft.


Print   |   Report Error   |   Email Listing

Agent Info

NameGerard DuMelle
CompanyCENTURY 21 Affiliated

Property Info

CIMLS #994743
Location3616 N Main St
Rockford IL 61103
Last UpdatedJuly 4th, 2018
TypeOffice
Price$1,200,000
Building1 Sq. Ft.
DemographicsView data

Contact


Property Description

COMMERCIAL PROPERTY ON CORNER WITH MEDICAL BUILDING BUILT IN 1991 WITH NEW ROOF 2017 AND ADDITIONAL LOT AND RENTAL FOR ADDITIONAL INCOME AND LAND FOR FUTURE DEVELOPMENT. NATIONAL CHAIN CURRENTLY HAS TRIPLE NET LEASE OF COMMERCIAL CORNER LOT. CURRENT TENANT HAS BEEN IN PLACE FOR A 5 YEAR LEASE TERM AND HAS JUST RENEWED 5 YEAR TERM AND HAS ADDITIONAL 5 YEAR OPTION. CAP RATE AVG OVER 9% AND HAS COST ESCALATION FOR FUTURE LEASE OPTION.