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    6307 North 2nd Street Loves Park, IL 61111 Loves Park, IL 61111

    • Retail properties
    For Lease
    View listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties

    Property Details for 6307 North 2nd Street Loves Park, IL 61111

    Property type
    Retail properties

    Description

    Suite 6321 - 15,793 SF 15,793 sqft Retail Suite 6407 - 5,872 SF 5,872 sqft Retail Suite 6445 -2,414 SF 2,414 sqft Retail Suite 6457 - 4,063 SF 4,063 sqft Retail Suite 6481 - 3,800 SF 3,800 sqft Retail Suite 6489 - 8,367 SF 8,367 sqft Retail

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Loves Park
    County
    State
    Illinois
    Longitude
    -89.0581621
    Latitude
    42.3200189

    Comparable in this City

    • Value Estimation by Request
      14,778 SF

      6125 2Nd St

      Lifestyle centers • 14,778 SF
      6125 2Nd St, Loves Park, IL 61111
      View Details
    • Value Estimation by Request

      1521 Riverside Blvd

      Individual retail properties
      1521 Riverside Blvd, Loves Park, IL 61111
      View Details
    • Value Estimation by Request
      0.71 Acres

      Riverside Blvd & Joesten Dr

      Land • 0.71 Acres
      0 Riverside Blvd & Joesten Dr, Loves Park, IL 61111
      View Details
    • Value Estimation by Request
      10,320 SF

      6434 2Nd St

      Office space • 10,320 SF
      6434 2Nd St, Rockford, IL 61111
      View Details
    • Value Estimation by Request
      10,320 SF

      6412 2Nd St

      Office space • 10,320 SF
      6412 2Nd St, Rockford, IL 61111
      View Details
    • Value Estimation by Request
      2,500 SF

      9999 Confide

      Automotive properties • 2,500 SF
      9999 Confide, Loves Park, IL 61111
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.71 Acres

      Blain's Farm & Fleet Pad Sites

      Loves Park, IL Retail Land for Sale
      0 Riverside Blvd & Joesten Dr, Loves Park, IL 61111
      View Details
    • $199,999
      2,300 SF

      Remodeled Building on Busy Street

      Remodeled 2300 SF building with new HVAC, roof, and windows.
      728 Windsor Rd, Loves Park, IL 61111
      View Details
    • $175,000

      Riverside Frontage Retail Opportunity

      Retail property with 75 feet of Riverside frontage.
      1908 Riverside Blvd E, Loves Park, IL 61111
      View Details
    • $899,000
      12,616 SF

      Adaptable Office/Medical Building For Sale

      Versatile building suitable for office, tech, or light distribution uses.
      2202 Harlem Rd, Loves Park, IL 61111
      View Details
    • $5,600,000
      4,350 SF

      New Car Wash Investment Opportunity

      New 20-year NNN lease with attractive rent increases.
      6245 N 2Nd St, Loves Park, IL 61111
      View Details
    • $699,900
      7,102 SF

      Established Restaurant Bar in Loves Park

      Thriving English restaurant and bar with a rich history.
      5040 N 2Nd St, Loves Park, IL 61111
      View Details

    Similar Nearby for Lease

    • $12 SF/Yr
      14,778 SF

      Loves Park Retail Center

      Retail strip center with renovated units available for lease.
      6125 Hanna Ct, Loves Park, IL 61111
      View Details
    • Contact for pricing
      3,800 SF

      Retail Space in Renovated Center

      Retail space with abundant parking and easy road access.
      6307-6499 N 2Nd St, Loves Park, IL 61111
      View Details
    • $14 SF/Yr
      1,246 SF

      Prime Office Space For Rent

      Well-appointed 1,246 SF office space in a bustling retail corridor.
      6100 E Riverside Blvd, Loves Park, IL 61111
      View Details
    • Contact for pricing
      5,983 SF

      Loves Park Retail Center Opportunity

      Prime Retail Space Available, Loves Park, IL
      6108 2Nd St, Loves Park, IL 61111
      View Details
    • Contact for pricing
      81,572 SF

      Harlem & Alpine Retail Center

      Loves Park, IL: Prime Retail Space Available
      7921 Alpine Rd, Loves Park, IL 61111
      View Details
    • Contact for pricing
      11,121 SF

      Loves Park Retail Center - 7 Suites

      New retail space, high traffic area, 7 suites available.
      1521 Riverside Blvd, Loves Park, IL 61111
      View Details
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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
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