2136 12Th St Rockford, IL 61104

This exceptional multi-tenant industrial property in Rockford, IL, presents a compelling value-add opportunity. The 379,137 square-foot warehouse campus sits on 28.61 acres and boasts a strong 93.94% occupancy rate, generating a substantial net operating income (NOI) of $651,703. Currently priced at $4,200,000, this Class B property offers a highly attractive 15.52% capitalization rate. The diverse tenant base includes both local and national businesses, occupying spaces ranging from 500 to 91,000 square feet, with many on short-term leases allowing for significant rental increases. Recent capital expenditures have included roof replacements, new drive-in doors, and repainting, enhancing the property's value. The property's location provides easy access to major transportation routes. Significant vacant space presents a clear path to increase NOI through additional leasing, and the potential for outdoor storage further enhances the investment potential. The current average rental rate is $2.89 per square foot gross, and the list price equates to $11.08 per square foot. This offering represents a rare chance to acquire a high-yield industrial asset with substantial upside potential. The property's APN is 11-36-327-012; 11-36-330-013. The property is located at 2136 12th St, Rockford, IL 61104.