415 Stephenson St Freeport, IL 61032
This exceptional 650-square-foot commercial space is ideally situated in Freeport, Illinois, within the Stephenson County submarket of Northwest Illinois. Located in a basement unit, this single-tenant property is perfect for a variety of uses, including a small office, barbershop, or storage facility. The space is currently available for lease and offers a highly attractive rental rate of $400 per month, with all utilities included by the owner. This represents a significant advantage for potential tenants, eliminating the unpredictable costs associated with utility bills. Further enhancing the appeal of this property is the absence of a required security deposit, minimizing upfront financial commitments. The landlord offers flexible lease terms to accommodate the specific needs of prospective businesses. To sweeten the deal, a unique incentive is offered: pay three months' rent upfront, and receive the fourth month rent-free. The property includes a convenient bathroom and a functional kitchen area, adding to its overall practicality and appeal. This presents a rare opportunity for entrepreneurs and small businesses seeking affordable and versatile commercial space in a desirable Northwest Illinois location. Inquire today to learn more about this exceptional opportunity.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.