rockford plaza for sale

8/6/2019 RockFord Plaza For Sale

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ROCKFORD PLAZA

ROCKFORD, IL

OFFERING

MEMORANDUM

EXCLUSIVE LISTED BY: ANAND BHATT – [email protected]



ROCKFORD PLAZA ROCKFORD, IL

Investment overview

We are pleased to present this multi-tenant prime opportunity in Rockford, IL.This property provides an investor the opportunity to purchase a well established andfrequently trafficked construction with net-leases. THIS PROPERTY HAS FREQUENTINCREASES IN NET INCOME, SO PURCHASE NOW BEFORE THE PRICE GOES UPYET AGAIN.

Qualified buyers are extended the opportunity to acquire a rarely available, well leased,75,302 square foot RetailStrip Center that also boasts upside potential. Rockford Shopping Center is located onbusy E. State St.in the established and rapidly-growing community of Rockford, Illinois.The property boasts a consistently strong rental history with a varietyof Highly Accredited Tenants on well written leases. Investors willnotice that this Rockford Shopping Center has a unique ability toaccommodate its tenants needs for growth, giving the propertyits enormous upside potential. Given its centralized location, visibility, andtraffic count, in addition to an abundance of surrounding residentialdevelopments, this property proves to be ideal for any investor.

Rockford is a major city located on both banks of the Rock River in far northern Illinois(just NW of Chicago). Rockford is often referred to as "The Forest City" and is the countyseat of Winnebago County, Illinois, USA. As reported in the 2000 U.S. census, the citywas named the third-largest city in Illinois after Chicago and Aurora. The metropolitanarea has 339,178 residents as of the 2000 census. During the latter part of the 20thcentury Rockford was the second largest city in Illinois.




Offering Summary Price $3,032,800 Gross Square Feet 75,302

VITAL DATA CAP Rate - Actual 9.0% Net Operating Income - Current $272,952

Th is in f orm a t io n ha s be e n se c ur e d f ro m sou rc e s w e be l ie v e t o be re l i a bl e, but w e ma ke no r ep re s e nt a t i on s or w a r ra nt i e s , e xpr e ss ei m pl i e d, as t o t h e acc u rac y of t he i nfo rmat i on . R efe r e nc e s t o sq uar e foot ag e or age are ap p roxi ma t e . Bu ye r mu st v e ri f y t h e i n f orm a t io n a nd b e a rs a l l r is k f or a ny i n a cc u ra c ie s . AB Commercial CONTACT ANAND BHATT - [email protected]

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Rent Roll

TenantsBase Rent

IncomeCAM Income Taxes

Reimbursement

TotalMonthly

RentProration

Factor Sq. Ft Start DateLease

Expires

Secretary of State $4,357.50 $1,807.50 $420.00 $6,585.00 0.0598 4500 Mar-01 Feb-12

Vacant (former BigLots) $0.00 $0.00 $0.00 $0.00 0.4036 30395 n/a n/a

Family Dollar $4,541.67 $0.00 $0.00 $4,541.67 0.1087 8182 Jul-02 Jul-12

Aarons Furniture $5,000.00 $820.45 $1,155.86 $6,976.31 0.1464 11025 Feb-03 Feb-15

San Jose CulturalCenter $7,000.00 $0.00 $0.00 $7,000.00 0.1339 10080 Jun-10 Sep-13

Certaire Tech(storage) $2,780.00 $0.00 $0.00 $2,780.00 0.1477 11120 mtm mtm

TOTAL $20,899.17 $25,102.98 75302

INCOMETotal Annual Rent $301,235.76

EXPENSESRE Taxes $65,596.00

Insurance $3,770.00Maintenance $4,800.00

Landscaping $1,350.00Snow Removal $6,056.00Parking Lot Sweeping $6,000.00Security/Alarm $1,150.93Water & Sewer $2,918.19Electric $2,238.64

Total CAM $28,283.76

Total Expenses $93,879.76

Net Operating Income $272,952




Average Daily Traffic Count

12




Aerial Photo

12



ROCKFORD PLAZA

RETAIL BUILDING

ROCKFORD, IL

OFFERING MEMORANDUM

EXCLUSIVE LISTED BY:

ANAND BHATT

[email protected]

209-975-SELL

rockford plaza for sale

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