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3702 North Main Street, Roc...

Imperial Realty Sells Retail Property In Rockford, IL For $3.2M
SOLDRetail

Imperial Realty Sells Retail Property In Rockford, IL For $3.2M

3702 North Main Street, Rockford, Illinois 61103, United States

$3,200,000

$32/SF

Building Size

99,000 SF

Asset Type

Retail

Closing

May 26, 2022

AI

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.

Players

Drew Neems

NorthMarq

Broker

$45.4M

vol

9 deals

Broker

Rockford Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

4.96%

Cash-on-Cash

-1.42%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93