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Minimum Bid/Published Reserve Price: $549,000
Buyer’s Premium: 6% ($40,000 minimum applies)
Cooperating Broker Commission: 2% of Bid Price/Offer Price (before Buyer’s Premium is added)
Lot Size: Approx. 1.02 Acres
Building Size: Approx. 6,174 SF; 6 Units (North Building)
Approx. 5,166 SF; 5 Units (South Building)
Year Built: 2001
Ceiling Height: 12′
Electrical: 200 AMPS
Parking Spaces: Approx. 91
2018 Taxes: $20,976.20
PIN #: 15-01-228-029
Zoning: C-2; Limited Commercial District
NOI: $57,688.17 (2019)
This fully leased and stabilized strip mall is being offered at an approximate 9.6% cap rate. All tenants are current and leases are in place. This property consist of two buildings with a total of 11 units. It has had annual roof and mechanical maintenance. A recent roof inspection was performed in 2019 and found to have no structural issues were found at that time. The parking lot was also sealed and re-striped this past year. The property was also surveyed within the last 8 years and passed a Phase I survey for the lender. The seller is retiring and seeking to liquidate assets. This property is a turn key investment opportunity for an investor with an attractive 9.6% cap rate.
This is a unique great opportunity for an investor looking for a safe and stable investment property. Pre-auction offers are highly encouraged!
***DO NOT DISTURB THE TENANTS***
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Total Bids Placed:
Auction has expiredAuction Expired because there were no bids
Location: 2607-2693 20th Street, Rockford, IL, 61109
How to Submit Pre-Auction Bid
Click on the Pre-Auction Offer Form button on the property page and submit your bid with proof of funds.
How to Register & Bid Online
Register: If you do not have an account on this website, click the “Sign-Up” button above and complete the brief registration form. We will then send you an email with a verification link that you must click in order to create a new account.
Important: You must be pre-approved to bid online. Follow these instructions to get approved to bid online:
BID APPROVAL PROCESS:
Review all information and due dilligence documents posted on the property listing on our website.
Read the Terms and Conditions and Purchase and Sale Agreement posted on the property listing on our website.
Wire or overnight the certified funds required to bid on the property (for amount required see Terms and Conditions).
Click the “Register to Bid” button.
You will receive an email notifying you that you have been approved to bid on the property.
If you have any questions, contact us. We would be happy to assist you.
For wiring instructions email: email@example.com or call 847-509-2757.
There is a 6% Buyer's Premium ($40,000.00 minimum applies) in effect for this auction.
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