ALL BRICK BUILDING WITH APARTMENTS AND RETAIL FRONTS

Retail-Commercial for Sale
Sale Pending/Contingent
Also listed as Multi-Family
Catylist Listing ID: 30641545
Property Subtypes: Convenience Store, Free-Standing Building, Mixed Use, Retail-Pad, Street Retail, Other
Status: Pending/Contingent
Building Size (RSF): 14,652 SF
Sale Price: $479,000
Unit Price: $32.69 PSF
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: PHENIX BUILDING
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 12/4/2020

Overview / Comments

Solid 2 story brick building in the heart of downtown consists of 5 Two bedroom and 1 bath All apartments are fully occupied.
Four apartments are 1000 sq. ft each and
one is a Studio.
All apartments has 1) Hardwood Floors 2) Washer
3) Dryer 4) Large Kitchen 5) Lots of cabinet space
Owner pays Water/Sewage/Garbage.
Tenants pay all Utilities.
Five store fronts and each of them are 1350 sq. ft
Four are rented and one vacant which is getting built to be a high-end coffee shop compared to a brand name coffee shop in the market.

C-STORE IS ONE OF THE TENANTS AND CAN BE PURCHASED SEPARATELY.

LIST PRICE: $479,000 dollars –-BUILDING WITH APTS & STORE FRONTS
$125,000 dollars PLUS Inventory ––– C - STORE

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $8,310 (Annual)

Additional Details

Nearest MSA: Rockford
County: Winnebago
Taxing Authority: ROCKFORD
Tax ID/APN: 1123306014
Zoning: C4
Retail Clientele: General, Business, Tourist, Recreation, Convention, Other
Property Located Between: Located between East State and Jefferson Street
Property Visibility: Good
Largest Nearby Street: East State Street
Airports: CHICAGO -ROCKFORD AIRPORT
Area Description: Downtown business district
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 2
Typical SF / Floor: 7,326 SF
Property Condition: Good
Year Built: 1923
Year Renovated: 2018
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: ALL BRICK
Total Parking Spaces: 4
Heat Type: Electricity, Natural Gas
Heat Source: Central
Air Conditioning: Other
Internet Access: Satellite
Interior Description: This building consists of 5 apartments and 5 store fronts.
Zoning Description: C4
Water Service: Municipal
Sewer Type: Municipal
Easements: Electric Lines, Water Rights, Utilities
Land Ownership: OWNED
Legal Description: MOST WLY 111.25 FT LOT6 & SLY 1.80 FT WLY 111.81 FT LOT 7 OF WEST ROCKFORD PT LOTS 6 & 7 BLOCK 12

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 19,928 104,932 181,240
Median Age: 32.45 34.16 37
Households: 7,740 40,616 71,762
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