2640 Ashwin Blvd Rockford, IL 61114
- Day care centers
- 7,574 SF
- 0.93 lot acres
Current Use by Public Records
- Day care centers
Property Details for 2640 Ashwin Blvd
- Year built
- 2020
- Lot size
- 0.93 lot acres
- Property size
- 7,574 SF
- Property type
- Day care centers
- Property subtype
- Retail properties
Description
This exceptional investment opportunity presents a 7,574 square foot, single-tenant, net-leased daycare center in Rockford, Illinois, within the Chicago MSA. The property, built in 2020, sits on a 0.93-acre lot and boasts a 100% occupancy rate with Open Arms Early Learning Childcare Center. The current lease, commenced April 28, 2020, has a remaining term of approximately 7.4 years, extending to April 29, 2032. The lease includes attractive terms such as 2% annual rent bumps and two 5-year renewal options at fair market value. The property benefits from a strong demographic profile, with over 18,947 households within a three-mile radius, boasting an average household income of $98,451. Rockford's population of 147,684 includes approximately 13% under the age of nine, indicating significant demand for childcare services. The asking price is $1,702,000, representing an 8.50% cap rate. This is a rare opportunity to acquire a stable, high-performing investment in a desirable location with significant growth potential. The property's strong tenant, established history, and favorable lease terms make it an ideal addition to any portfolio. The Double Net (NN) lease structure minimizes landlord responsibilities, ensuring a streamlined investment experience.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Rockford
- County
- Winnebago
- State
- Illinois
- Longitude
- -88.9814
- Latitude
- 42.2976
