Imperial Realty Sells Retail Property In Rockford, IL For $3.2M
SOLD
$3,200,000
Illinois
See Similar DealsRetail99,000 SF
Sold 05/27/2022
SOLD
Imperial Realty Sells Retail Property In Rockford, IL For $3.2M
3702 North Main Street, Rockford, Illinois 61103, United States
See Similar DealsRetail99,000 SF
Sold 05/27/2022
Summary
ILLINOIS
Asset Type:Retail
Price Per Square Foot:$32
Total Square Footage:99,000 SF
Transaction Type:Sale
A 99,000 square foot retail center located at 3702 N Main St in Rockford, IL has been sold for a price of $3,200,000. The property is a multi-tenant retail center anchored by a NNN leased CVS. The sale took place on 05/27/2022.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $3,200,000
- Address: 3702 N Main St, Rockford, IL
- Market: Rockford
- Asset Type: Retail
The seller's representatives for this transaction were Drew Neems and Theron May from Imperial Realty.
Theron May & Drew Neems captured an image of the property, which can be seen on their Instagram post: Instagram Post.
Note: The retail center is NNN leased and features multiple tenants.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$170,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$11,368.93
Cash-on-Cash Return-1.27%
Monthly Debt Service$15,169.63
Annual Debt Service$182,035.59
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