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    4703 44Th St Rock Island, IL 61201

    Sponsored
    For Sale
    $3,300,000

    43,200 SF Office Building, 86% Occupied

    Property size:
    43,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional investment opportunity presents a four-building, Class B office complex located at 4703-4711 44th St, Rock Island, IL 61201. The property boasts a total of 43,200 square feet of traditional office space, currently 86% occupied, spread across four single-story buildings. The asking price is $3,300,000. The property sits on a substantial 55,736 square foot lot, zoned C, offering ample space and potential for future development. Recent improvements include a new parking lot and a new roof, enhancing the overall value and appeal of the complex. The large parking lot is fully ADA compliant, providing convenient and accessible parking for tenants and visitors. The property's location on a bus line ensures easy accessibility for employees and clients. This multi-tenant property offers a mix of small and large office spaces, catering to diverse business needs. The Net Net (NN) lease structure provides a streamlined approach to property management. This well-maintained complex presents a strong return on investment with its current occupancy rate and recent upgrades. The property's strategic location in Rock Island, Rock Island County, Illinois, offers excellent visibility and accessibility. This is an ideal opportunity for investors seeking a stable, income-generating asset in a thriving market.

    Property Features for 4703 44Th St

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    43,200 SF
    Class
    B

    Building Details

    Buildings
    4
    Stories
    1

    HighLights

    • Four‑building, 43,200 SF Class B office complex in Rock Island, IL.
    • 86% occupied, asking price $3,300,000.
    • 55,736 SF lot, C‑zoned, with ample development potential.
    • Recent improvements include new roof and ADA‑compliant parking lot.
    • Located on a bus line, offering convenient access.
    • Multi‑tenant property with NN lease structure.
    Property Profile Location Intelligence

    Current Use by Public Records

    Alcohol & Drug Edu ... Alcoholism Treatment Program The Center for Youth and Family ... Foster Care Service Elizabeth Galbraith Social Worker Cross Country Mortgage Mortgage Broker

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rock Island
    County
    Rock Island
    State
    Illinois
    Longitude
    -90.5404386
    Latitude
    41.4669409

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    FAQs

    What type of property is this?
    Office Property / Space - 43,200 SF Office Building, 86% Occupied
    Where is this office property / space located?
    The property is located at 4703 44Th St Rock Island, IL.
    What is the asking price?
    The asking price for this property is $3,300,000.
    What are key features of this property?
    This property features: Four-building, 43,200 SF Class B office complex in Rock Island, IL.; 86% occupied, asking price $3,300,000.; 55,736 SF lot, C-zoned, with ample development potential.
    Request Owner's contact information
    4703 44Th St Rock Island, IL 61201
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    Rock Island, IL 61201
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    4703 44Th St Rock Island, IL 61201
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