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4425 Harrison Ave 23,670 SF 68% Leased Office Building Rockford, IL 61108 $2,200,000 ($92.94/SF) 12.27% Cap Rate
Investment Highlights
- Current lease income of $16,000 per month through 2027.
- Two-story building with full basement and ample storage.
- High-traffic location with up to 60,000 vehicles per day.
- Main-level tenant has vacated, but lease remains active.
- Over 100 parking spaces, including adjacent lot.
- Roof and parking lots updated in 2021.
Executive Summary
This two-story commercial building with a full basement offers a highly visible location along Harrison Avenue, benefiting from traffic counts of up to 60,000 vehicles per day. The property spans 23,670 SF on 1.57 acres and includes an adjacent parking lot, providing over 100 spaces for tenants and visitors.
The asset generates $16,000 per month in lease income through 2027, offering immediate cash flow for investors. While the main-level tenant has vacated, the lease remains in place, ensuring continued income stability. Recent updates to the roof and parking areas in 2021 enhance long-term value and reduce near-term capital needs.
Its layout and ample storage make it suitable for a variety of uses, including office, medical, or institutional operations. The property’s proximity to major retailers such as Walgreens and strong surrounding traffic patterns further support business visibility and accessibility.
The asset generates $16,000 per month in lease income through 2027, offering immediate cash flow for investors. While the main-level tenant has vacated, the lease remains in place, ensuring continued income stability. Recent updates to the roof and parking areas in 2021 enhance long-term value and reduce near-term capital needs.
Its layout and ample storage make it suitable for a variety of uses, including office, medical, or institutional operations. The property’s proximity to major retailers such as Walgreens and strong surrounding traffic patterns further support business visibility and accessibility.
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
23,670 SF
Building Class
B
Year Built
1986
Price
$2,200,000
Price Per SF
$92.94
Cap Rate
12.27%
NOI
$270,000
Percent Leased
68%
Tenancy
Multiple
Building Height
3 Stories
Typical Floor Size
7,890 SF
Building FAR
0.35
Lot Size
1.57 AC
Zoning
C3 - Heavy Commercial
Parking
70 Spaces (2.96 Spaces per 1,000 SF Leased)
Amenities
- Banking
- Bus Line
- Property Manager on Site
- Security System
- Air Conditioning
Space Availability
- Space
- Size
- Space Use
- Build-Out
- Available
• Current Lease Expires: 8/31/2027 • Sublease Asking Price: $12.00 PSF Gross • Available Space: +/- 7,477 SF • Parcel 1: +/- 1.57 AC • Parcel 2: +/- 0.47 AC • Parking Spaces: +/- 60
| Space | Size | Space Use | Build-Out | Available |
| 1st Floor | 7,477 SF | Retail | - | Now |
1st Floor
| Size |
| 7,477 SF |
| Space Use |
| Retail |
| Build-Out |
| - |
| Available |
| Now |
1 of 3
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1st Floor
| Size | 7,477 SF |
| Space Use | Retail |
| Build-Out | - |
| Available | Now |
• Current Lease Expires: 8/31/2027 • Sublease Asking Price: $12.00 PSF Gross • Available Space: +/- 7,477 SF • Parcel 1: +/- 1.57 AC • Parcel 2: +/- 0.47 AC • Parking Spaces: +/- 60
1 1
Fairly walkable
50/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 16-05-131-013 | Improvements Assessment | $249,167 |
| Land Assessment | $84,907 | Total Assessment | $334,074 |
Property Taxes
Parcel Number
16-05-131-013
Land Assessment
$84,907
Improvements Assessment
$249,167
Total Assessment
$334,074
1 of 9
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
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4425 Harrison Ave
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