Building Details

Year Built 1966

Buildings 1

Tenancy Single

Listing Agency: Marcus & Millichap - Austin

Listed By: Douglas Diffie · License #TX 656858 Show Phone

Source: Crexi

Added: Apr 23 Changed: Oct 14 Last Checked: Oct 16 at 7:47AM

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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 Marcus & Millichap - Austin

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Investment Insights

Based on property information with market context.

This 6177-square-foot medical office space is configured as a veterinary clinic at 1869 North Bell School Road in Rockford, Illinois. Constructed in 1966, the property benefits from a recently executed 5-year lease extension and a corporate guarantee. The asset combines an established healthcare-oriented use with defined lease continuity and is positioned within the Bell School Road address corridor.

Key Highlights

• 6177 SF medical office space configured as a veterinary clinic
• Recently executed 5‑year lease extension
• Corporate guarantee

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$83,862

Cap Rate

4.85%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,677,240 $1.7M

Cap Rate 7%

$1,198,029 $1.2M

Cap Rate 9%

$931,800 $931.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 6,177 SF

Gross rent

$129.7K $21.00/SF

− Vacancy

−$17.9K −$2.90/SF

EGI

$111.8K $18.10/SF

− OpEx

−$28.0K −$4.53/SF

NOI

$83.9K $13.58/SF

Area

Rockford, IL

Vacancy

13.80%

Lease Rate

$21.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,677,240

Cap Rate 7%

$1,198,029

Cap Rate 9%

$931,800

Alternative Uses

Best Use

Office B

$1.20M

$1.05M – $1.40M (±1% cap)

NOI $83,862 @ 7.0% cap · market cap 4.85%

Second Best

Healthcare Medical

$1.16M

$1.02M – $1.36M (±1% cap)

NOI $81,388 @ 7.0% cap · market cap 4.70%

Theoretical Best

Office A

$1.64M

$1.44M – $1.92M (±1% cap)

NOI $115,011 @ 7.0% cap · market cap 6.65%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Bellwood Animal Hospital Veterinary Clinic Bellwood Animal Hospital: ... Veterinary Clinic Bellwood Animal Hospital: ... Veterinary Clinic Bellaire Grooming Pet Grooming Service

Suggested Use

Top Pick Building Supply Real Estate Agency Auto Repair Shop Restaurant Pharmacy Storage Facility

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

172

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 61107, IL

30,722

Population

13,711

Households

2.2

Avg Household Size

42

Median Age

37%

College-Educated

93%

High-School Grad

14.9 sq mi

ZIP Area

2,062

Density / Sq Mi

$75,492

Median Household Income

$42,494

Median Earnings

$1,053

Median Rent

$165,200

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Similar Off Market Nearby

• Bellwood Animal Hospital — 1869 N Bell School Rd, Rockford, IL 61107
• Bellwood Animal Hospital: Spoo Katie DVM — 1869 N Bell School Rd, Rockford, IL 61107
• Bellwood Animal Hospital: Lendman Chris DVM — 1869 n bell school rd, rockford, il 61107
• VetIQ Petcare — 2013 McFarland Rd, Rockford, IL 61107
• Anomal Emergency Clinic of Rockford — 7145 Spring Creek Rd, Rockford, IL 61107

Frequently Asked Questions

What type of property is this?

Medical Office Space - Veterinary clinic backed by a corporate guarantee and a recently executed five-year extension.

Where is this medical office space located?

The property is located at 1869 North Bell School Road Rockford, IL.

What is the asking price?

The asking price for this property is $1,730,183.

What are key features of this property?

This property features: 6177 SF medical office space configured as a veterinary clinic; Recently executed 5‑year lease extension; Corporate guarantee