Mixed-Use Building with
For Sale
$265,000
110 W 2nd Street, Rock Falls, IL 61071
The property combines a ground-floor restaurant with two upstairs apartments in a two-level configuration.
Property Size2,800 SF
Days on Market37
Property Features for 110 W 2nd Street
General Information
Standard status
Active
Size
2,800 SF
Property subtype
Commercial
Zoning
COMMR
Units
Unit Mix
2 x 2BR/1BA
Multifamily Units
2
Additional Details
Floor
Ground
Average Monthly Rent
$550
Taxes and HOA fees
Annual Taxes
$3,764
Building Details
Building Size
2,800 SF
Year Built
1900
Stories
2
Units
2
Listing Agency:
RE/MAX Sauk Valley
(815) 716-7653
Listed By:
Tim McCaslin · License #471002068
Source:
Jjillrealtygroup
Added: Jul 25
Changed: Aug 29
Last Checked: Aug 29 at 9:41PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Sauk Valley
Investment Insights
Based on property information with market context.
Built in 1900, this mixed-use property places restaurant space on the main floor and residential accommodations above. The upper level contains two separate apartments, each configured with two bedrooms and one bathroom, creating a combination of commercial and residential components within one building.
The property is located at 110 W 2nd Street in Rock Falls, Illinois, and carries COMMR zoning. A roof replacement or update was completed in 2018, adding a documented improvement to the building’s long-term physical profile.
The property is located at 110 W 2nd Street in Rock Falls, Illinois, and carries COMMR zoning. A roof replacement or update was completed in 2018, adding a documented improvement to the building’s long-term physical profile.
Key Highlights
- Ground‑floor restaurant space
- Two upstairs apartments, each with 2 bedrooms and 1 bath
- Mixed‑use property at 110 W 2nd Street, Rock Falls, IL 61071
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,766
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.57%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$295,320
$295.3K
Cap Rate 7%
$210,943
$210.9K
Cap Rate 9%
$164,067
$164.1K
Market Conditions
NOI Build-Up for 2,800 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$28.6K $10.20/SF
− Vacancy
−$1.7K −$0.61/SF
EGI
$26.8K $9.59/SF
− OpEx
−$12.1K −$4.31/SF
NOI
$14.8K $5.27/SF
Area
Whiteside County, IL
Vacancy
6.00%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$295,320
Cap Rate 7%
$210,943
Cap Rate 9%
$164,067
Alternative Uses
Best Use
Specialty Retail
$523.8K
$458.3K – $611.1K
NOI $36,666 @ 7.0% cap · market cap 13.84%
Second Best
Mixed Use
$396.0K
$346.5K – $462.0K
NOI $27,720 @ 7.0% cap · market cap 10.46%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
676
Businesses Nearby
40k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 79%
Shops & Services 16%
Hotels & Casinos 4%
Electronics 2%
Taco Bell
Dining
13,339 visits/mo
0.5 miles
Shell
Shops & Services
6,413 visits/mo
0.2 miles
Hardee's
Dining
5,820 visits/mo
0.3 miles
Scooter's Coffee
Dining
4,600 visits/mo
0.3 miles
Pizza Hut
Dining
3,457 visits/mo
0.5 miles
Demographics for 61071, IL
13,389
Population
6,612
Households
2
Avg Household Size
45
Median Age
17%
College-Educated
90%
High-School Grad
72.5 sq mi
ZIP Area
185
Density / Sq Mi
$57,909
Median Household Income
$40,698
Median Earnings
$752
Median Rent
$104,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Mixed-use property - The property combines a ground-floor restaurant with two upstairs apartments in a two-level configuration.
Where is this mixed-use property located?
The property is located at 110 W 2nd Street Rock Falls, IL.
What is the asking price?
The asking price for this property is $265,000.
What are key features of this property?
This property features: Ground‑floor restaurant space; Two upstairs apartments, each with 2 bedrooms and 1 bath; Mixed‑use property at 110 W 2nd Street, Rock Falls, IL 61071
