Fully Leased Rock Point Mall in Rockford, IL
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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
|Auction started||December 23, 2020 9:03 am CST|
Bidding Starts: December 23, 2020 9:03 am CST
Bidding Ends: December 23, 2020 9:03 am CST
Location: 2607-2693 20th Street, Rockford, IL, 61109
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There is a 6% Buyer's Premium ($40,000.00 minimum applies) in effect for this auction.
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