Product

Expired Industrial for Sale
Catylist Listing ID: 30706368
Property Subtypes: Free-Standing, Mixed Use, Light Industrial
Building Size (RSF): 53,000 SF
Gross Land Area: 5.38 Acres
Sale Price: $975,000
Unit Price: $18.40 PSF
Property Use Type: Investment
Building Name: Morgan
Usable Size (USF): 53,000 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 4/29/2021

Overview / Comments

This is a multiple parcel offering consisting of 10 buildings, covering 53,000 sq ft more or less of mixed-use tenants all set on 5.38 acres of land. Located within minutes of the I90 entrance on Rt 173.
Includes 10462 Product Drive, 10488 Product Drive, 10502 Product Drive, 10524 Product Drive, 10540 Product Drive, and 10568 Product drive. Buildings include cement block construction and steel exterior clear span buildings. There are 24 units with a monthly gross rent of over $19,000. The Tenants include light industrial machine tooling, auto repair, storage, hobby units and small repair shops.
This is that one-of-a-kind opportunity where the location, diversity and number of tenants can provide a level of security for the investment.

Attachments & Media

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $36,000 (Annual)
Potential Rental Income $228,000 (Annual)

Additional Details

Nearest MSA: Rockford
County: Winnebago
Taxing Authority: Winnebago
Tax ID/APN: 0817354015
Zoning: INDUSTRIAL
Airports: Chicago-Rockford International
Site Description: Mixed use with surface staorage.
Area Description: Mixed use industrial
Tenancy: Multiple Tenants
Total Number of Buildings: 10
Number of Stories: 1
Property Condition: Fair
Roof Type: Gable
Construction/Siding: Metal Siding
Exterior Description: Block and steel construction
Parking Type: Surface
Parking Description: On site
Heat Type: Natural Gas
Heat Source: Ceiling Units
Air Conditioning: Other
Lighting: Other
Zoning Description: Zoned Light Industrial
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,952 40,706 95,798
Median Age: 42.57 38.57 40.97
Households: 1,844 15,469 37,984

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