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    3204 Alpine Rd Rockford, IL 61109

    Sponsored
    For Lease
    $15 SF/Yr

    Seven suites available, 675-4200 sq ft.

    Lot size:
    11,525 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    400
    Alpine Plaza, located at 3204 S Alpine Rd, Rockford, IL 61109, offers exceptional commercial space for lease. This Winnebago County property features multiple tenancy options within a vibrant retail center. Seven individual suites are currently available, ranging in size from 675 square feet to 4,200 square feet, providing flexibility for various business needs. The property is ideally suited for retail, office, or restaurant uses, among other possibilities. Its prime location on a heavily trafficked main thoroughfare, near American Rd., ensures high visibility and accessibility for your business. The building's traditional office subtype provides a professional and functional environment. The property's address is easily accessible and benefits from significant foot and vehicle traffic. This presents a unique opportunity to establish a strong presence in a thriving Rockford commercial district. Interested parties are encouraged to inquire about available suite sizes and lease terms. The property is classified as Retail, Office, and Restaurant, offering diverse possibilities for prospective tenants.

    Property Features for 3204 Alpine Rd

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    11,525 SF

    Unit(s) available at that property

    Space
    3208
    Size
    4,200 SF
    Rate per SF
    $15
    Space
    3210
    Size
    1,000 SF
    Rate per SF
    $15
    Space
    3212
    Size
    1,000 SF
    Rate per SF
    $15
    Space
    3214-3216
    Size
    2,400 SF
    Rate per SF
    $15
    Space
    3218
    Size
    675 SF
    Rate per SF
    $15
    Space
    3220
    Size
    1,250 SF
    Rate per SF
    $15
    Space
    3204
    Size
    1,000 SF
    Rate per SF
    $15

    HighLights

    • Highly visible strip center.
    • Conveniently located near Rockford Bypass Route 20.
    • Ample parking.
    • Signalized intersection.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Rockford
    County
    Winnebago
    State
    Illinois
    Longitude
    -89.028750087078
    Latitude
    42.228533620938

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    FAQs

    What type of property is this?
    Restaurant - Seven suites available, 675-4200 sq ft.
    Where is this restaurant located?
    The property is located at 3204 Alpine Rd Rockford, IL.
    What is the lease rate?
    The lease rate is $15 SF/Yr.
    What are key features of this property?
    This property features: Highly visible strip center.; Conveniently located near Rockford Bypass Route 20.; Ample parking.
    Request Owner's contact information
    3204 Alpine Rd Rockford, IL 61109
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    Rockford, IL 61109
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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.

    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
    3204 Alpine Rd Rockford, IL 61109
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