NNN Office Investment - 100% Leased

Office for Sale
Catylist Listing ID: 30629104
Property Subtypes: Business Park, Net Leased, Office Building
Building Size (RSF): 21,822 SF
Gross Building Area: See Agent
Gross Land Area: 0.98 Acres
Sale Price: See Agent
Property Use Type: Net Leased Investment (NNN), Investment
Class of Space: Class A
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 9/25/2020

Overview / Comments

Ideal 1031 exchange, NNN investment opportunity in Rockford, Illinois. High quality office building 100% leased at or just below market rents, with escalations, to a quiet legal and financial management tenant base. Desirable location within the Perryville commercial corridor, underground parking, hard-corner adjacent to Aldeen Golf Club. Recent capital improvements, including parking lot replacement (2018), roof coating (2015) all-building repaint (underway) and minor facade repairs (underway), equal a very low-touch investment holding with reliable income in a stabilized environment. Executive summary attached; Full OM available upon execution of confidentiality agreement.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $79,771 (Annual)

Additional Details

Nearest MSA: Rockford
County: Winnebago
Tax ID/APN: 1215230005
Zoning: C2
Total Number of Buildings: 1
Number of Stories: 3
Year Built: 2000
Roof Type: Mansard
Construction/Siding: Stucco
Parking Type: Surface, Underground
Parking Description: 61 surface; 18 underground
Total Parking Spaces: 79
Sprinklers: Wet
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System
Water Service: Municipal
Sewer Type: Municipal

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,130 60,748 158,888
Median Age: 43.33 43.29 40.02
Households: 1,630 25,383 64,118

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