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    2171 Keene Pkwy Belvidere, IL 61008
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    Property profile & analytics

    2171 Keene Pkwy Belvidere, IL 61008

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    • Commercial real estate
    • 6.22 lot acres
    Off-Market
    Property ID
    US28-4186700
    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

    • Commercial real estate

    Property Details for 2171 Keene Pkwy

    Lot size
    6.22 lot acres
    Property type
    Commercial real estate
    APN
    07-01-126-002; 07-01-128-001; 07-01-176-006; 07-01-176-004; 07-01-201-015

    Description

    This exceptional opportunity presents multiple land parcels within the Sager Corporate Park in Belvidere, Illinois. The available lots range in size from 6.22 to 11.88 acres, offering significant flexibility for various development projects. These sites are ideally suited for both commercial and industrial uses, providing a prime location for businesses seeking to establish a presence in Boone County. The land is priced competitively, ranging from $2.75 to $7.00 per square foot. The property boasts a strategic location north of I-90 and south of Chrysler Drive, conveniently situated between the Genoa and Irene Road I-90 interchanges. This ensures easy access to major transportation routes. Furthermore, the proximity to the Stellantis plant, scheduled to reopen in 2027, presents a compelling advantage for businesses seeking to capitalize on the anticipated economic growth in the area. A planned road extension from Genoa Road will further enhance accessibility to I-90, streamlining logistics and transportation. The low Boone County taxes add to the overall attractiveness of this investment opportunity. APN numbers include 07-01-126-002

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

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

    Location Insight

    • Map
    • Local Demand
    City
    Belvidere
    County
    Boone
    State
    Illinois
    Longitude
    -88.836073
    Latitude
    42.237823

    Comparable in this City

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      Modern Industrial Facility with Expansion

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      90,000 SF

      Cross-Docked Industrial Building

      90,000 SF industrial building with cross-docking and highway access.
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    • $65,000
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      Belvidere Buildable Residential Lot

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    • $112,000
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      Belvidere Land in Mallard Pointe

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      View Details

    Similar Nearby for Sale

    • $460,000
      5.25 Acres

      Prime Belvidere Development Land

      5.25 Acres, I-90 Exposure, Flexible Zoning
      0 42°14'07.8"N, Belvidere, IL 61008
      View Details
    • Contact for pricing
      3,389 SF

      3792 Morreim Dr, Belvidere, IL 61008

      Truck stops • 3,389 SF
      3792 Morreim Dr, Belvidere, IL 61008
      View Details
    • Contact for pricing

      Modern Industrial Facility with Expansion

      Expandable industrial facility with office space near I-90 and I-39.
      675 Corporate Pkwy, Belvidere, IL 61008
      View Details
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      90,000 SF

      Cross-Docked Industrial Building

      90,000 SF industrial building with cross-docking and highway access.
      795 Landmark Dr, Belvidere, IL 61008
      View Details
    • $65,000
      1.20 Acres

      Belvidere Buildable Residential Lot

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      View Details
    • $112,000
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      Belvidere Land in Mallard Pointe

      2.19 acre lot in Belvidere's Mallard Pointe subdivision.
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      View Details

    Similar Nearby for Lease

    • Contact for pricing
      117,000 SF

      Belvidere Industrial Building Opportunity

      Proposed 117,000 SF industrial building near Stellantis Assembly Plant.
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      Belvidere Land Ready For Development

      Land with great visibility, ready for immediate construction and development.
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      Commercial Property in Belvidere, IL

      Commercial property available for rent in Belvidere, Illinois.
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      Retail/Restaurant Space For Lease

      Retail or restaurant space available for lease.
      2294 Gateway Center Dr, Belvidere, IL 61008
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    • $16 SF/Yr

      Highly Visible Belvidere Road Location

      High-traffic location near I-90 and local amenities.
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    • Contact for pricing

      High-Visibility Retail Space Available

      Retail space in high-traffic area near major employers.
      1766 S State St, Belvidere, IL 61008
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    Belvidere, IL 61008
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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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