Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    417 Ware Ave Rockford, IL 61107-6413

    • Office properties & Spaces
    • 12,819 SF
    • 1.04 lot acres
    OFF-MARKET
    Value Estimations
    $1,295,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-0052730
    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

    • DaVita Churchview Dialysis / Medical Clinic
    • Yvonne Schoonover / Physician

    Property Details for 417 Ware Ave

    Year built
    1998
    Construction
    WOOD
    Lot size
    1.04 lot acres
    Property size
    12,819 SF
    Zone code
    C2
    Property type
    Office properties & Spaces
    APN
    12-23-302-021
    APU
    1223302021

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,419,000
      Market price range: $450k - $1.73M
      AI Estimate
      $947,000
      Market price range: $311k - $1.07M

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

    Location Insight

    • Map
    • Local Demand
    City
    Rockford
    County
    Winnebago
    State
    Illinois
    Longitude
    -88.9777
    Latitude
    42.2733
    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
    $45,964
    $77,738
    $364,934
    $442,672
    -
    $233,214
    $1,094,802
    $1,328,016

    Comparable in this City

    • Value Estimation by Request
      5,400 SF

      107 3rd St

      OFFICE (GENERAL) • 5,400 SF
      107 3rd St, Rockford, IL 61107-4010
      View Details
    • Value Estimation by Request
      3,302 SF

      864 1st St

      OFFICE (GENERAL) • 3,302 SF
      864 1st St, Rockford, IL 61107
      View Details
    • Value Estimation
      $4,725,000
      44,989 SF

      2902 Mcfarland Rd

      OFFICE (GENERAL) • 44,989 SF
      2902 Mcfarland Rd, Rockford, IL 61107-6801
      View Details
    • Value Estimation
      $5,285,000
      49,832 SF

      444 Roxbury Rd

      OFFICE (GENERAL) • 49,832 SF
      444 Roxbury Rd, Rockford, IL 61107-5059
      View Details
    • Value Estimation by Request
      4,035 SF

      4320 Morsay Dr

      OFFICE (GENERAL) • 4,035 SF
      4320 Morsay Dr, Rockford, IL 61107-4877
      View Details
    • Value Estimation by Request
      4,793 SF

      321 4th St

      OFFICE (GENERAL) • 4,793 SF
      321 4th St, Rockford, IL 61107-4018
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      4,032 SF

      Single-Story Commercial Building with Offices

      Single-story commercial building featuring 10 private offices.
      210 N Longwood St, Rockford, IL 61107
      View Details
    • Contact for pricing
      1,600 SF

      Strathmoor Medical Office Building

      Medical office building for sale or lease in Rockford, IL.
      5727 Strathmoor Dr, Rockford, IL 61107
      View Details
    • Contact for pricing
      2,390 SF

      East Rockford Medical/Dental Office

      2,390 SF medical/dental office on 3.37-acre lot for sale.
      7550 Rote Rd, Rockford, IL 61107
      View Details
    • Contact for pricing
      950 SF

      Central Rockford Office Space Available

      Office suites available from 801 to 2000 SF.
      615 Longwood St N, Rockford, IL 61107
      View Details
    • Contact for pricing
      1,943 SF

      Two-Story Office Building For Sale

      Two-story office building with multiple offices and reception area.
      435 N Mulford Rd, Rockford, IL 61107
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Prime Office Space on Strathmoor

      Office space near retail, residential, and office hubs.
      6066 Strathmoor Dr, Rockford, IL 61107
      View Details
    • Contact for pricing

      Office Space Available For Lease

      Office space for lease at 735 N Perryville Rd.
      735 N Perryville Rd, Rockford, IL 61107
      View Details
    • Contact for pricing

      Rockford Office Space For Sale

      Office unit with easy access to amenities and transportation.
      6006-6008 Strathmoor Dr, Rockford, IL 61107
      View Details
    • Contact for pricing
      600 SF

      Rockford Office Building For Rent

      Five-story office building in the heart of northeast Rockford.
      1639 N Alpine Rd, Rockford, IL 61107
      View Details
    • Contact for pricing

      Corner Office Building For Rent

      62,175 SF office building with high visibility and accessibility.
      1235 N Mulford Rd, Rockford, IL 61107
      View Details
    • Contact for pricing

      Rockford Professional Office Complex

      Versatile office spaces in a prime Rockford location.
      7268 Argus Dr, Rockford, IL 61107
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    417 Ware Ave
    Rockford, IL 61107-6413
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!