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

    6448 Irene Rd Belvidere, IL 61008-8780

    • Industrial properties
    • 27,549 SF
    • 6.32 lot acres
    OFF-MARKET
    Value Estimations
    $1,310,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-4697225
    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

    • Nucor Rebar Fabrication / Factory / Production Facility

    Property Details for 6448 Irene Rd

    Year built
    2000
    Lot size
    6.32 lot acres
    Property size
    27,549 SF
    Property type
    Industrial properties
    APN
    05-32-400-010
    APU
    532400010

    Value Estimations

    based on Realmo’s proprietary methodology

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $1,580,000
      Market price range: $959k - $1.58M
      AI Estimate
      $1,771,000
      Market price range: $582k - $1.77M

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $1,240,000
      Current use

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

    Location Insight

    • Map
    • Local Demand
    City
    Belvidere
    County
    Boone
    State
    Illinois
    Longitude
    -88.9044
    Latitude
    42.2466
    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
    $40,548
    $59,685
    $412,970
    $472,655
    -
    $179,055
    $1,238,910
    $1,417,965

    Comparable in this City

    • Value Estimation by Request
      0.99 Acres

      Mckinley Ave

      INDUSTRIAL (GENERAL) • 0.99 Acres
      Mckinley Ave, Belvidere, IL 61008
      View Details
    • Value Estimation by Request
      1,288 SF

      5698 Coleman St

      INDUSTRIAL (GENERAL) • 1,288 SF
      5698 Coleman St, Belvidere, IL 61008
      View Details
    • Value Estimation by Request
      4,004,221 SF

      3000 Chrysler Dr

      INDUSTRIAL (GENERAL) • 4,004,221 SF
      3000 Chrysler Dr, Belvidere, IL 61008-6006
      View Details
    • Value Estimation by Request
      2.00 Acres

      954 Bethany Dr

      Distribution properties • 2.00 Acres
      954 Bethany Dr, Belvidere, IL 61008
      View Details
    • Value Estimation
      $800,000
      17,100 SF

      6582 Revlon Dr

      INDUSTRIAL (GENERAL) • 17,100 SF
      6582 Revlon Dr, Belvidere, IL 61008-8532
      View Details
    • Value Estimation by Request
      6,286 SF

      436 Scotts Army Trl

      INDUSTRIAL (GENERAL) • 6,286 SF
      436 Scotts Army Trl, Belvidere, IL 61008
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10.00 Acres

      Belvidere Industrial Land - 10 Acres

      Prime 10-acre industrial site, build-to-suit option.
      20 And Town Hall Rd, Belvidere, IL 61008
      View Details
    • $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
    • New
      $2,500,000
      1.82 Acres

      Belvidere Truck Repair Facility

      Newly constructed truck repair and service facility in Belvidere, Illinois.
      3792 Morreim Dr, Belvidere, IL 61008
      View Details
    • Contact for pricing
      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
    • Contact for pricing

      Commercial Land Near Retail Corridor

      2.08 acres of commercial land in prime retail location.
      1601 Belvidere Rd, Belvidere, IL 61008
      View Details
    • Contact for pricing
      64,563 SF

      Commercial Lot in Landmark Crossings

      Commercial lot for sale or build to suit opportunity.
      2010 Pierce Ct, Belvidere, IL 61008
      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.
      984 Landmark Dr, Belvidere, IL 61008
      View Details
    • Contact for pricing

      High-Traffic Belvidere Commercial Space

      Highly visible commercial space near I-90 and local amenities.
      1663 Belvidere Rd, Belvidere, IL 61008
      View Details
    • Contact for pricing

      Belvidere Land Ready For Development

      Land with great visibility, ready for immediate construction and development.
      Belvidere, IL 61008
      View Details
    • Contact for pricing

      Belvidere Commercial Land - 20 Acres

      Prime Commercial Land, High Visibility, I-90 Access
      20 Belvidere Il 61008, Belvidere, IL 61008
      View Details
    • $16 SF/Yr
      19,387 SF

      Belvidere Medical Office Building

      Prime Medical/Commercial Office Space
      1663 Belvidere Rd, Belvidere, IL 61008
      View Details
    • Contact for pricing
      1,800 SF

      Retail Space Near Walmart

      13,400 SF strip center shadow-anchored by Walmart.
      2294 Gateway Center Dr, Belvidere, IL 61008
      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.
    6448 Irene Rd
    Belvidere, IL 61008-8780
    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!