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    Property profile & analytics

    3511 State St Rockford, IL 61108-1913

    • Commercial real estate
    • 2,007 SF
    • 0.42 lot acres
    OFF-MARKET
    Value Estimations
    $255,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0877197
    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.

    Current Use by Public Records

    • Commercial real estate

    Property Details for 3511 State St

    Year built
    1993
    Construction
    WOOD
    Lot size
    0.42 lot acres
    Property size
    2,007 SF
    Zone code
    C3
    Property type
    Commercial real estate
    APN
    12-30-227-003
    APU
    1230227003

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $245,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $415,000
      6.5%
      $385,000
      7%
      $355,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $361,000
      Market price range: $88.0k - $425k
      AI Estimate
      $163,000
      Market price range: $48.3k - $175k

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

    Location Insight

    • Map
    • Local Demand
    City
    Rockford
    County
    Winnebago
    State
    Illinois
    Longitude
    -89.0414
    Latitude
    42.2657
    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
    $0.00
    $31,029
    $40,565
    $71,594
    -
    $93,087
    $121,695
    $214,782

    Comparable in this City

    • Value Estimation
      $255,000
      1,632 SF

      7711 Newburg Rd

      COMMERCIAL (GENERAL) • 1,632 SF
      7711 Newburg Rd, Rockford, IL 61108-6922
      View Details
    • Value Estimation
      $275,000
      3,356 SF

      4231 State St

      COMMERCIAL (GENERAL) • 3,356 SF
      4231 State St, Rockford, IL 61108-2009
      View Details
    • Value Estimation by Request
      302,569 SF

      6007 State St

      COMMERCIAL (GENERAL) • 302,569 SF
      6007 State St, Rockford, IL 61108-2512
      View Details
    • Value Estimation by Request
      9,018 SF

      6325 State St

      COMMERCIAL (GENERAL) • 9,018 SF
      6325 State St, Rockford, IL 61108-2540
      View Details
    • Value Estimation
      $250,000
      4,320 SF

      7711 Newburg Rd

      COMMERCIAL (GENERAL) • 4,320 SF
      7711 Newburg Rd, Rockford, IL 61108-6922
      View Details
    • Value Estimation
      $995,000
      3,600 SF

      Remington Rd

      COMMERCIAL (GENERAL) • 3,600 SF
      Remington Rd, Rockford, IL 61108
      View Details

    Similar Nearby for Sale

    • $895,000

      Rockford Commercial Land Investment

      52,817 SF C2 Zoned Land
      3809 State St, Rockford, IL 61108
      View Details
    • $499,000

      4806 Javelin Dr, Rockford, IL 61108

      Commercial real estate
      4806 Javelin Dr, Rockford, IL 61108
      View Details
    • $553,230
      Pending

      Rockford Land Ideal for Development

      4.23-acre lot suitable for commercial or multi-family development.
      4 Acres Perryville & Fincham Rd, Rockford, IL 61108
      View Details
    • $169,900
      3,050 SF

      Two-Unit Brick Office Building

      3,050 SF brick office building with two units.
      3926 Broadway, Rockford, IL 61108
      View Details
    • $525,000

      Commercial Land in Excellent Location

      5.81 acres of commercial land zoned CG.
      69 Charles St, Rockford, IL 61108
      View Details
    • $578,400
      9.64 Acres

      Rockford Land Near Hard Rock

      Buildable lot near I90/I39 and Hard Rock Casino.
      1255 Tebala Blvd, Rockford, IL 61108
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      44,000 SF

      Rockford Executive Office Space

      Class A Office Suites, Rockford, IL
      6838 State St, Rockford, IL 61108
      View Details
    • Contact for pricing
      95,751 SF

      Rockford Plaza Executive Office Suite

      Prime Office Space, 1000 sq ft.
      2518 Charles St, Rockford, IL 61108
      View Details
    • $1.75 SF/Yr
      52,817 SF

      Rockford Commercial Land Lease

      Prime 1.21-acre lot, build-to-suit option.
      3809 State St, Rockford, IL 61108
      View Details
    • Contact for pricing
      101,566 SF

      State Street Retail Opportunity

      Rockford, IL storefront space available
      5439-5505 State St, Rockford, IL 61108
      View Details
    • $19 SF/Yr
      5,551 SF

      Turnkey Bar & Grill Opportunity

      Fully equipped bar and grill available for lease assignment.
      5880 E State St, Rockford, IL 61108
      View Details
    • Contact for pricing
      2,601 SF

      Rockford Plaza Retail/Office Space

      2,601 sq. ft. space with abundant natural light.
      2510-2554 Charles St, Rockford, IL 61108
      View Details

    Property Visit Statistics

    • Visits by month
      10.7k
    • Visitors by month
      10.4k
    • Avg Time on site
      12 min
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    3511 State St
    Rockford, IL 61108-1913
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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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