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    6307 North 2nd Street Loves Park, IL 61111 Loves Park, IL 61111
    Property profile & analytics

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

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    • Retail properties & Spaces
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    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Retail properties & Spaces

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

    Property type
    Retail properties & Spaces
    Property subtype
    Shopping centers

    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

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      6125 2Nd St, Loves Park, IL 61111
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      1521 Riverside Blvd

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      1521 Riverside Blvd, Loves Park, IL 61111
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      0.71 Acres

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      Land
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    • Value Estimation by Request
      10,320 SF

      6412 2Nd St

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      6412 2Nd St, Rockford, IL 61111
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      10,320 SF

      6434 2Nd St

      Office Units
      6434 2Nd St, Rockford, IL 61111
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    • Value Estimation by Request
      2,500 SF

      9999 Confide

      Automotive properties
      9999 Confide, Loves Park, IL 61111
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    Similar Nearby for Sale

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      7,102 SF

      Established Restaurant Bar in Loves Park

      Thriving English restaurant and bar with a rich history.
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      15,592 SF

      Loves Park Retail Investment Opportunity

      90.75% occupied retail plaza with upside potential.
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      Riverside Frontage Retail Opportunity

      Retail property with 75 feet of Riverside frontage.
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      Pending

      Land For Sale

      Land available for sale in Loves Park, Illinois.
      East Riverside Blvd, Loves Park, IL 61111
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      5,870 SF

      Spacious Building with Extra Lot

      5,870 SF building with an extra lot included.
      234 River Park Rd, Loves Park, IL 61111
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    Similar Nearby for Lease

    • $12 SF/Yr
      3,750 SF

      Loves Park Retail Center

      Retail strip center with renovated units available for lease.
      6125 N 2Nd St, Loves Park, IL 61111
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      Former Restaurant on High-Traffic Road

      3,319 SF former restaurant suitable for restaurant or retail.
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      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
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      40,309 SF

      Retail Space in Loves Park

      Retail property available for lease in Loves Park, Illinois.
      6401 North 2Nd St, Loves Park, IL 61111
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      Retail Center in Loves Park

      Retail center with high visibility and convenient access.
      7921 N Alpine Rd, Loves Park, IL 61111
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      8,367 SF

      Retail Space in Renovated Center

      Retail space with abundant parking and easy road access.
      6307-6499 N 2Nd St, Loves Park, IL 61111
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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.

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