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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    Wallace St Rockford, IL 61103

    • Industrial properties
    • 5,000 SF
    OFF-MARKET
    Value Estimations
    $185,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-3481295
    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

    • Industrial properties

    Property Details for Wallace St

    Year built
    1989
    Construction
    WOOD
    Property size
    5,000 SF
    Zone code
    I1
    Property type
    Industrial properties
    APN
    11-12-351-007
    APU
    1112351007

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $195,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $177,000
      Market price range: $66.9k - $263k
      AI Estimate
      $135,000
      Market price range: $73.0k - $151k

    • Alternative Use

      Use
      Estimation
      INDUSTRIAL (GENERAL)
      $145,000
      Current use
      COMMERCIAL (GENERAL)
      $275,000
      Change: +88% Conversion: Difficult

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

    Location Insight

    • Map
    • Local Demand
    City
    Rockford
    County
    Winnebago
    State
    Illinois
    Longitude
    -89.0758
    Latitude
    42.299
    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
    $2,793
    $15,627
    $11,274
    $26,901
    -
    $46,881
    $33,822
    $80,703

    Comparable in this City

    • Value Estimation by Request

      4650 Shepherd Trl

      INDUSTRIAL (GENERAL)
      4650 Shepherd Trl, Rockford, IL 61103-1290
      View Details
    • Value Estimation
      $200,000
      180 SF

      Sheridan

      INDUSTRIAL (GENERAL) • 180 SF
      Sheridan, Rockford, IL 61103
      View Details
    • Value Estimation
      $225,000
      7,950 SF

      2419 Grant Ave

      INDUSTRIAL (GENERAL) • 7,950 SF
      2419 Grant Ave, Rockford, IL 61103
      View Details
    • Value Estimation
      $225,000
      0.97 Acres

      4582 Shepherd Trl

      INDUSTRIAL (GENERAL) • 0.97 Acres
      4582 Shepherd Trl, Rockford, IL 61103-1238
      View Details
    • Value Estimation
      $255,000
      10,220 SF

      2430 Ct St

      INDUSTRIAL (GENERAL) • 10,220 SF
      2430 Ct St, Rockford, IL 61103-3932
      View Details
    • Value Estimation
      $300,000
      13,481 SF

      1607 Fulton Ave

      INDUSTRIAL (GENERAL) • 13,481 SF
      1607 Fulton Ave, Rockford, IL 61103-3973
      View Details

    Similar Nearby for Sale

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      Prime Development Land Opportunity

      2.65-acre site ideal for commercial or multi-family development.
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      Spacious Duplex in Rockford, Illinois

      Two-story duplex with tenant and vacant unit, great potential.
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      98,107 SF

      Rockford Multifamily Portfolio: 130 Units

      Historic Rockford apartment complex, 130 units, high occupancy.
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      Rockford Duplex with Garages

      Duplex in Rockford, each unit with three bedrooms.
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      Multifamily property with rental potential in Rockford, Illinois.
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    Similar Nearby for Lease

    • Contact for pricing
      523,758 SF

      Rockford Industrial/Office Space

      Large Industrial Space Available, Rockford, IL
      4650 Shepherd Trl, Rockford, IL 61103
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    • Contact for pricing

      Commercial Land for Lease

      4-acre commercial land available for lease in Rockford, Illinois.
      56xx Auburn St, Rockford, IL 61103
      View Details
    • Contact for pricing
      20,473 SF

      Rockford Retail Pad Site

      Prime 0.47-acre commercial land
      2647 Main St, Rockford, IL 61103
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    • Contact for pricing
      20,473 SF

      Rockford Retail Pad Site

      Prime Commercial Land, High Traffic
      2647 Main St, Rockford, IL 61103
      View Details
    • Contact for pricing

      Commercial Land For Rent

      Commercial land available for rent with high-visibility frontage.
      2649 N Main St, Rockford, IL 61103
      View Details
    • $5 SF/Yr
      7,768 SF

      Rockford Office Space Available

      Prime Downtown Rockford Office: 3,200 sq ft available
      728 Main St, Rockford, IL 61103
      View Details
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    Wallace St
    Rockford, IL 61103
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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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