Elmwood Industrial Warehouse Distribution Center

Industrial for Sale
Catylist Listing ID: 30570296
Property Subtypes: Free-Standing, Industrial-Business Park, Manufacturing, Mixed Use, Light Industrial, Net Leased, Warehouse/Distribution
Building Size (RSF): 322,951 SF
Gross Land Area: 586,318 SF
Sale Price: $6,950,000
Unit Price: $21.52 PSF
Ceiling: 18 ft. / 28 ft. Clear
Docks/Doors: 12 Docks, 2 Doors
Office SF: 18,000 SF
Drive In Bays: 5 Bays
Property Use Type: Net Leased Investment (NNN), Investment
Building Name: Elmwood Industrial Manufacturing
Usable Size (USF): 322,951 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 75
Last Updated: 3/28/2020

Overview / Comments

EXCELLENT LOCATION IN ESTABLISHED INDUSTRIAL PARK.

Very well maintained industrial building located in North Rock Industrial Park including 322,951 SF building with approximately 18,000 SF of office, lunch room, 12 docks, 2 overhead doors, 5 drive up docs, 3 phase 3000 amp 4802/277 electrical service.

Well established tenant with a long term lease and recently signed a 10 year extension with escalating rents over the extension period. plus two additional tenants. One space is available for lease in Suite 4, giving any buyer upside income potential.

Financials

Finance Data Year 2019
Real Estate Taxes - Annual($) $277,758 (Annual)
Tax Value Land $236,908
Tax Value Improvements $1,429,592
Tax Value Personal Property $0
Assessed Value - Total($) $1,666,500 (Annual)
Actual or Proforma Year Actual

Additional Details

Nearest MSA: Rockford
County: Winnebago
Taxing Authority: OWEN TOWNSHIP
Tax ID/APN: 07-36-302-001
Zoning: IL
Property Located Between: North Main Street & Northrock Drive
Highway Access: Hwy. 2 is 1/4 mile west of the subject.
Airports: Chicago Rockford International Airport
Site Description: The site has 13.46 acres, located at the southeast corner of Elmwood Road and Shepherd Trail, Rockford, IL. The land is primarily flat with minimal sloping away from the building for adequate water run off. The building is set back from the road and the remainder of the land is utilized for ingress, egress and parking.
Area Description: The property is located in Northrock Industrial Park, which is centrally located within Winnebago County, on the Northwest tip of Rockford. The area contains approximately 20 industrial, manufacturing, warehousing and storage facilities, being consistent with the highest and best use of the subject's area.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 1
Typical SF / Floor: 322,951 SF
Property Condition: Good
Year Built: 1969
Year Renovated: 2020
Roof Type: Flat
Construction/Siding: Concrete, Steel Frame
Exterior Description: Masonry/concrete ext. walls & wood/steel roof & floor structure.
Parking Ratio: 1.2 (per 1000 SF)
Parking Type: Surface
Parking Description: There are 385 parking stalls and approximately 40 stalls available for semi-trailer parking, all on blacktop.
Total Parking Spaces: 385
Eave Height: 18
Column Spacing: 40'X40 BAYS
Overhead Cranes: Undisclosed
Sprinklers: Wet
Amps: 3,000
Volts: 4,802
X-Phase: 3 Phase
Heat Type: Natural Gas
Heat Source: Central, Ceiling Units
Air Conditioning: Engineered System
Lighting: LED
Internet Access: Cable
Interior Description: There are four tenant spaces. The ceiling heights to 28’. Column widths range from 40’ to up to 60’. The concrete floor is 8” thick. The building has an ESFR SPRINKLER system. Office space in the Woods Equipment is being renovated in 2020; painting, flooring, updated restrooms, carpet, LED lighting, and updated break room.
Zoning Description: IL - Light Industrial Legally Conforming with various uses such as industrial manufacturing, warehouse and distribution.
Lot Frontage: 620
Lot Depth: 839
Water Service: Municipal
Sewer Type: Municipal
Easements Description: There are no known easements or encroachments impacting the subject's site.
Land Ownership: Contact Broker for ownership.
Legal Description: ELY PT OF N838.56FT OF THAT PT SW 1/4 LYG W OF RR + S OF S LN STATE TR MEAS 620FT ON RD EXC 60FT STRIP TO CITY OF RKFD SEC SEC: 36 TWP: 045 RANGE: 001 ACRES: 13.45

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,161 64,760 157,337
Median Age: 41.61 40.32 38.94
Households: 2,856 26,001 62,255

Contact

Photograph of Listing Agent

Tom Ewing CCIM CPM RPA MCR

KELLER WILLIAMS REALTY SIGNATURE CMCPEX Member
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