Jordan Alleva At Newmark Sells Retail Property In Rockford, Loves Park For $16.1M
SOLD
$16,133,800
Illinois
See Similar DealsRetail142,357 SF
Sold 04/08/2022
SOLD
Jordan Alleva At Newmark Sells Retail Property In Rockford, Loves Park For $16.1M
1810 Harlem Rd, Loves Park, IL 61111
See Similar DealsRetail142,357 SF
Sold 04/08/2022
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$113
Total Square Footage:142,357 SF
Transaction Type:Sale
The retail property located at 1810 Harlem Rd in Rockford, Loves Park has been sold. The transaction was facilitated by Jordan Alleva from Newmark. The property encompasses a total area of 142,357 square feet. The sale price amounted to $16,133,800, resulting in a price per square foot of $113.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $16,133,800
- Address: 1810 Harlem Rd
- Market: Rockford, Loves Park
- Broker: Jordan Alleva - Newmark
- Square Footage: 142,357 SF
- Price per Square Foot: $113
The sale of the retail property was completed successfully, thanks to the efforts of Jordan Alleva from Newmark. This transaction demonstrates the demand for retail properties in Rockford and Loves Park markets.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$860,469.32
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$57,319.99
Cash-on-Cash Return-1.27%
Monthly Debt Service$76,482.44
Annual Debt Service$917,789.32
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