3616 N Main St | Rockford, IL 61103
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3616 N Main St
Rockford, IL 61103
Office Property For Sale
PROPERTY FACTS
Property Type
Office
Property Subtype
Medical
Building Size
4,953 SF
Building Class
C
Year Built/Renovated
1991/1999
Tenancy
Single
Building Height
1 Story
Typical Floor Size
4,953 SF
Building FAR
0.04
Lot Size
2.58 AC
Zoning
C1
Parking
31 Spaces (6.26 Spaces per 1,000 SF Leased)
ABOUT 3616 N MAIN ST , ROCKFORD, IL 61103
NEW 10 YEAR LEASE WITH ADDITIONAL 5 YEAR OPTION. COMMERCIAL PROPERTY ON CORNER WITH MEDICAL BUILDING BUILT IN 1991 WITH NEW ROOF 2017 AND ADDITIONAL LOT AND RENTAL FOR ADDITIONAL INCOME AND LAND FOR FUTURE DEVELOPMENT. NATIONAL CHAIN CURRENTLY HAS TRIPLE NET LEASE OF COMMERCIAL CORNER LOT. CURRENT TENANT HAS BEEN IN PLACE FOR A 7 YEAR LEASE TERM AND HAS JUST RENEWED 10 YEAR TERM AND HAS ADDITIONAL 5 YEAR OPTION. CAP RATE 7.33% AND HAS COST ESCALATION FOR FUTURE LEASE OPTION.
PROPERTY TAXES
| Parcel Number | 11-02-427-016 | Improvements Assessment | $104,848 |
| Land Assessment | $45,420 | Total Assessment | $150,268 |
PROPERTY TAXES
Parcel Number
11-02-427-016
Land Assessment
$45,420
Improvements Assessment
$104,848
Total Assessment
$150,268
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