2136 12Th St Rockford, IL 61104

Property Details for 2136 12Th St

Lot size

0.05 lot acres

Zone code

I1

Property type

Industrial land

APN

11-36-181-012

APU

1136181012

Description

This multi-tenant industrial campus in Rockford, Illinois, presents a compelling investment opportunity. The property encompasses 393,181 square feet across multiple buildings, situated on a 28.61-acre lot, and zoned I-1 (Light Industrial). Currently boasting 92.06% occupancy, the property generates a substantial net operating income (NOI) of $652,295, yielding a 13.05% capitalization rate at an asking price of $5,000,000 ($12.72/sq ft). The diverse tenant base includes both local and national businesses, with lease terms ranging from month-to-month to longer agreements, providing flexibility for future income growth. Recent capital expenditures have included roof replacements, new drive-in doors, and repainting, enhancing the property's value. The property offers a range of space options, from 800 to 91,000 square feet, catering to various business needs. The significant amount of vacant space presents a value-add opportunity to increase rental income. The property's location in Rockford, Illinois, at 2136 12th St, 61104, offers access to key transportation routes and a robust industrial market. The average rental rate is $2.76 per square foot gross. This offering provides a high-yield investment with potential for further appreciation through lease-up and rent increases. The property's low vacancy rate, compared to the surrounding market, further underscores its strong performance and potential. The property's APN is 11-36-327-012

Location Insight

City

Rockford

County

Winnebago

State

Illinois

Longitude

-89.0688

Latitude

42.2464

CBSA code

40420

CBSA name

ROCKFORD, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments