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    175 Executive Pkwy Rockford, IL 61107
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    Property profile & analytics

    175 Executive Pkwy Rockford, IL 61107

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    • Office Spaces
    • 75,782 SF
    For Lease
    $2,235,000
    View Listing →
    Retail Space Near Major Intersection For Lease
    $2,235,000

    Retail Space Near Major Intersection

    Retail space in high-traffic Rockford business and shopping corridor.

    175 Executive Pkwy, Rockford, IL 61107
    View Listing
    Property ID
    US28-2096021
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Illinois Department of Children & Family Services / Social Service Agency / Charitable Organization
    • Illinois Department of Healthcare and Family Services: Division of Child Support Enforcement / City Government Office

    Property Details for 175 Executive Pkwy

    Year built
    1984
    Construction
    STEEL FRAME
    Property size
    75,782 SF
    Zone code
    C2
    Property type
    Office Spaces
    APN
    12-22-353-005
    APU
    1222353005

    Description

    This exceptional 3,944 square foot retail space is located at 175 Executive Parkway in Rockford, Illinois, within Winnebago County (zip code 61107). The property boasts a prime location near the intersection of North Mulford Road and East State Street, offering superior visibility and high traffic counts exceeding 54,000 vehicles per day. Its strategic position places it just two miles from Interstate 90, placing it within easy reach of a large customer base. This multiple-tenancy building is situated in the heart of Rockford's bustling business and shopping district, benefiting from the high volume of foot and vehicle traffic. The property offers ample parking for customers and employees, and building signage opportunities are available to enhance visibility. This location offers significant advantages, with neighboring businesses including popular restaurants such as Shogun, Giordano's, and Portillo's. The space is currently vacant and ready for immediate occupancy. This presents a unique opportunity for businesses seeking a high-visibility location in a thriving commercial area. Contact us today to learn more about this exceptional retail space.

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      AI Estimate
      $2,337,000
      Market price range: $1.84M - $6.34M

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Rockford
    County
    Winnebago
    State
    Illinois
    Longitude
    -88.9978
    Latitude
    42.2693
    CBSA code
    40420
    CBSA name
    ROCKFORD, IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $113,457
    $258,272
    $834,401
    $1,092,673
    -
    $774,816
    $2,503,203
    $3,278,019

    Comparable in this City

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      200 Y Blvd

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      200 Y Blvd, Rockford, IL 61107-3019
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      6021 Strathmoor Dr

      OFFICE (GENERAL) • 1,441 SF
      6021 Strathmoor Dr, Rockford, IL 61107
      View Details
    • Value Estimation
      $4,445,000
      32,570 SF

      816 Featherstone Rd

      OFFICE (GENERAL) • 32,570 SF
      816 Featherstone Rd, Rockford, IL 61107-6300
      View Details
    • Value Estimation
      $6,785,000
      71,799 SF

      973 Featherstone Rd

      OFFICE (GENERAL) • 71,799 SF
      973 Featherstone Rd, Rockford, IL 61107-5912
      View Details

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    View Listing
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    Rockford, IL 61107
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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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