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345 Executive Pkwy Rockford, IL 61107-5340

OFF-MARKET Office Spaces Google Maps
14,589 SF 1.33 ac lot Built 1988
Entity Owned 23-yr Hold Absentee Owner Free & Clear
Estimated value (blended)
$305k
Range $275k – $336k (±10%)
Property ID US28-0523411

Property summary

AI-generated overview

This two-story, 13,198 square foot Class B office building, built in 1992 and renovated the same year, offers a vibrant workspace with an invigorating lakeside view. Located in a thriving business environment on Executive Parkway, this property provides excellent visibility with a pylon sign and monument signage. The building features bright ceramic foyers and skylights, creating a welcoming atmosphere for employees and clients. A new parking lot with 100 spaces and superior landscaping enhance the property's appeal. The 3,710 square feet of currently vacant space is divisible into units of at least 1,000 square feet, making it ideal for a growing business or medical practice. This location boasts high traffic and easy access to major transportation arteries, including I-90, US-20, and I-39, placing it within minutes of key areas such as hospitals and other major roadways. Situated in Winnebago County, this property benefits from its proximity to the Rockford airport, multiple railroads, and major highways. The building sits on 1.32 acres of land and is zoned for commercial office use. 24-hour emergency property management is provided. The building is adjacent to the executive Mulford Village Office Park, offering a professional and successful atmosphere.

Property profile

Verified
Property type Office Spaces
Use group OFFICE (GENERAL)
Year built 1988
Construction WOOD
Total area 14,589 SF
Lot 1.33 ac (57,935 SF)
Zoning code C1
APN 12-22-353-002
UPID US28-0523411

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Engineer
  • Medical Clinic
  • Medical Clinic
  • Gym & Fitness Center
  • Hair Salon

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
by Request
CAP Approach CAP
by Request
Comparable Approach Comparable
$550k
Blend (final) Blend
$305k

Owner & transaction history

since 2003
7 recorded transactions
2003
$17,000
2003
$17,000
2003
$250,000
2003
$13,500
2002
$27,000
2002
$17,000
2002
$17,000

Zoning & alternative use

C1 · Rockford, IL
Zoning description

21-001-B. C-1, LIMITED OFFICE DISTRICT 1. The C-1, Limited Office district is intended to accommodate low-intensity office development in close proximity to residential uses. 2. The C-1 district is intended to serve as a…

General category COMMERCIAL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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