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3475 S Alpine Rd 10,400 SF Office Building Rockford, IL 61109 $3,155,000 ($303.37/SF) 6% Cap Rate
Investment Highlights
- Absolute NNN
- Partnership with OSF Healthcare
- 2.5% Annual Increases
Executive Summary
Colliers Net Lease Capital Markets is pleased to present for sale a single-tenant Physicians Immediate Care urgent care property located at 3475 S. Alpine Rd, Rockford, Illinois. The property is 100%
absolute net leased with approximately 7.5 years of remaining lease term and attractive annual rent increases of 2.50%. Encompassing approximately 10,400 square feet on 1.54 acres, the facility
operates seven days a week and serves as an established urgent care location within the Rockford market. Physicians Immediate Care is part of WellNow Urgent Care and operates through a
strategic partnership with OSF HealthCare (Moody’s: A3), one of the Midwest’s leading not-for-profit health systems. Additionally, the Subject Property is strategically located along South Alpine Road,
one of Rockford’s primary commercial corridors, providing excellent visibility and accessibility while benefiting from strong surrounding retail, healthcare, and residential demographics.
absolute net leased with approximately 7.5 years of remaining lease term and attractive annual rent increases of 2.50%. Encompassing approximately 10,400 square feet on 1.54 acres, the facility
operates seven days a week and serves as an established urgent care location within the Rockford market. Physicians Immediate Care is part of WellNow Urgent Care and operates through a
strategic partnership with OSF HealthCare (Moody’s: A3), one of the Midwest’s leading not-for-profit health systems. Additionally, the Subject Property is strategically located along South Alpine Road,
one of Rockford’s primary commercial corridors, providing excellent visibility and accessibility while benefiting from strong surrounding retail, healthcare, and residential demographics.
Data Room Click Here to Access
Property Facts
Sale Type
Investment NNN
Property Type
Office
Property Subtype
Building Size
10,400 SF
Building Class
C
Year Built
1993
Price
$3,155,000
Price Per SF
$303.37
Cap Rate
6%
NOI
$189,297
Tenancy
Single
Building Height
1 Story
Typical Floor Size
10,400 SF
Building FAR
0.16
Lot Size
1.54 AC
Zoning
C2
Parking
74 Spaces (7.12 Spaces per 1,000 SF Leased)
Major Tenants Click Here to Access
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Health Care and Social Assistance
-
99,999 SF
-
$9.99
-
Lorem Ipsum
-
Jan 0000
WellNow Urgent Care, which acquired Physicians Immediate Care in 2025, began as Five Star Urgent Care in 2012 in New York and rebranded in 2018 while expanding nationwide. The company grew through strategic acquisitions like Physicians Immediate Care in 2022. They provide treatment for non-life-threatening conditions, virtual consultations, and workplace health services. WellNow operates numerous clinics across several Midwestern and Northeastern states. Their business model focuses on accessible healthcare alternatives to emergency rooms through extended hours and walk-in availability.
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Health Care and Social Assistance | 99,999 SF | $9.99 | Lorem Ipsum | Jan 0000 |
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Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 16-05-379-015 | Improvements Assessment | $358,415 |
| Land Assessment | $43,343 | Total Assessment | $401,758 |
Property Taxes
Parcel Number
16-05-379-015
Land Assessment
$43,343
Improvements Assessment
$358,415
Total Assessment
$401,758
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