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21062824
21062825

102 7th St, Rockford, IL 61104

QB
Qazzafi Butt
Listed by Qazzafi Butt
$2,350,000
522 days on market
Updated 7 days ago

102-106 7th Rockford- 100% Occupied Mixed-Use Portfolio

Details
Property Type Mixed Use
Sub Type Investment
Square Footage 7,513
Units 6
Cap Rate 5.39%
NOI $126,727
Occupancy 100%
Class C
Year Built 1927
Year Renovated 2022
Buildings 3
Stories 2
Lot Size (SqFt) 0.5
Zoning C4
Ownership Sole proprietorship
Sale Condition For sale by owner

Accessible to all local attractions

Marketing description

Midtown Rockford is a coveted location for both businesses and residents, given its walkable and friendly nature. Just across from Rock River, this part of town is situated southeast of Downtown Rockford. This trendy neighborhood is quickly expanding. There is plenty of retail nearby, ranging from local businesses to big household names. Dollar General, Subway, Wendy’s, and Burger King are just a few examples of nearby retailers. 7th Street specifically benefits from its proximity to E State Street, which is a major connector for the area. Other noteworthy places nearby include UW Health SwedishAmerican Hospital, Sinnissippi Park, and several parks.

Rockford, Illinois is located in the burgeoning I-90 growth corridor and is part of the 3rd largest economic corridor in the U.S. /Close enough to Chicago to feel the breeze off lake Michigan, the Rockford region offers distinct business advantages that simply cannot be had in the “big” city. Rockford is recognized as a world leader in the production of machine tools and auto parts, and increasingly becoming recognized as an important center for aerospace components. Over the years, Rockford business has become diversified and it is now home to a broader set of enterprises, including distribution centers, driven by the Rockford International Airport ease of access to I-90 traversing 3,020 miles from Boston to Seattle.

Investment highlights

Fully leased, mixed-use opportunity consisting of three ground-floor storefront retail spaces and three residential units above.

102-106 7th Street benefits from an obvious location at the intersection of 7th Street and Charles Street seeing over 10,500 vehicles per day.

Just off E State Street which is a major connector for the area with an abundance of retail and total spending exceeding $1.6 billion within 5 miles.

Major retailers nearby include Dollar General, Subway, Burger King, and others with plenty of local restaurants and shopping sprinkled in.

Listing Contacts

QB
Qazzafi Butt
Listed by Qazzafi Butt

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Loan Amount
$0.00
Annual Debt Service
$--
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Annual Cash Flow
$126,727.00
$10,560.58/mo

Valuation Metrics

0
DSCR
5.39%
Cap Rate
5.39%
ROI

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