Retail and Office Investment
For Sale
$2,115,328
615 Harrison Ave, Rockford, IL 61104
Newer construction retail and office property with limited competition.
Property Size5,460 SF
Price / SF$387.42
Days on Market193
Property Features for 615 Harrison Ave
General Information
Standard status
Active
Size
5,460 SF
Class
C
Property subtype
Retail
Building Details
Building Size
5,460 SF
Listing Agency:
The Boulder Group
Listed By:
Randy Blankstein · License #471005983
(847) 562-0003
Source:
Commercialcafe
Added: Mar 27
Changed: Sep 24
Last Checked: Oct 4 at 6:56AM
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 The Boulder Group
Investment Insights
Based on property information with market context.
This commercial property, constructed in 2022, offers a blend of retail and office spaces. The property has a size of 5460 square feet and operates at a 6.75% capitalization rate. It benefits from limited competition in the area, presenting a potentially stable investment opportunity.
Key Highlights
- 6.75% cap rate
- Built in 2022
- Limited competition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$74,128
Cap Rate
3.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,482,560
$1.5M
Cap Rate 7%
$1,058,971
$1.1M
Cap Rate 9%
$823,644
$823.6K
Market Conditions
NOI Build-Up for 5,460 SF
Gross rent
$114.7K $21.00/SF
− Vacancy
−$15.8K −$2.90/SF
EGI
$98.8K $18.10/SF
− OpEx
−$24.7K −$4.53/SF
NOI
$74.1K $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%
$1,482,560
Cap Rate 7%
$1,058,971
Cap Rate 9%
$823,644
Alternative Uses
Best Use
Office B
$1.06M
$926.6K – $1.24M
NOI $74,128 @ 7.0% cap · market cap 3.50%
Second Best
Retail
$948.4K
$829.9K – $1.11M
NOI $66,388 @ 7.0% cap · market cap 3.14%
Theoretical Best
Office A
$1.45M
$1.27M – $1.69M
NOI $101,661 @ 7.0% cap · market cap 4.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
211
Businesses Nearby
Explore this area
Business Placement
Demographics for 61104, IL
17,354
Population
9,253
Households
1.9
Avg Household Size
32
Median Age
9%
College-Educated
75%
High-School Grad
4.5 sq mi
ZIP Area
3,856
Density / Sq Mi
$32,161
Median Household Income
$26,277
Median Earnings
$854
Median Rent
$83,700
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail property - Newer construction retail and office property with limited competition.
Where is this retail property located?
The property is located at 615 Harrison Ave Rockford, IL.
What is the asking price?
The asking price for this property is $2,115,328.
What are key features of this property?
This property features: 6.75% cap rate; Built in 2022; Limited competition
