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Property profile & analytics
OFF-MARKET
Office Spaces
433 Phelps Ave, Rockford, IL 61108-2442
Entity Owned
6-yr Hold
~
Est. High Equity
Property ID
US28-1589197
Property profile
Verified
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Year built
1988
Construction
WOOD
Total area
4,560 SF
Lot
0.31 ac (13,504 SF)
Zoning code
R3
APN
12-28-204-034
UPID
US28-1589197
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Along the Path Counseling Medical Clinic
-
AllStaff - Rockford Employment Agency
-
Quantum Personnel Employment Agency
-
Life Styles Hair Salon Hair Salon Nail Salon
-
Revive Aesthetics & Wellness PLLC Spa & Massage Center Alternative Medicine Practice
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Quirk Properties LLC · 6 yrs held
Quirk Properties LLC
since 2019
2 recorded transactions
Zoning & alternative use
R3 · Rockford, IL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Rockford submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Rockford submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$8,436
Tax year 2023
Assessed value
$81,242
Assessed 2023
Previous assessed
$72,616
+11.9% YoY
Effective rate
10.38%
On assessed value
Assessed land
$14,667
Assessed improvement
$66,575
Land market value
$44,001
Improvement market value
$199,725
Total market value
$243,726
Applied tax rate
1.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Office Spaces
Use group
OFFICE (GENERAL)
Status
Off-Market
Year built
1988
Construction
WOOD
Heating
NONE
Cooling
CENTRAL
Stories
2
Units
1
Total area
4,560 SF
Lot
0.31 ac (13,504 SF)
Zoning code
R3
APN
12-28-204-034
UPID
US28-1589197
Jurisdiction
WINNEBAGO
Zoning & alternative use
R3 · Rockford, IL
Zoning R3 · permitted uses
R3 · Rockford, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Rockford. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Year built
1988
Construction
WOOD
Heating
NONE
Cooling
Yes
Stories
2
Units
1
Lot
0.31 ac
Current owner
From public records · entity-resolved
Quirk Properties LLC
Entity
Mailing address
2506 BURRMONT RD, ROCKFORD, IL 61107-1842
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
2 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Dec 6, 2019
$149,900
Quirk Properties LLC
Trust Number 2472
Grant Deed
$130,000 · Blackhawk Bk
—
—
Chicago Trust Co Ttee
—
Deed Of Trust
related
$109,033 · Amcore Bank NA Rockford
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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