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Office Warehouse

650 Race St.

650 Race St, Rockford, IL 61101

Listing Price: $6,500,000

Cap Rate
9.25%
Gross SF
200,412
Price/Gross SF
$32.43
Lot Size
12.72 acres
Year Built
2006
Rentable SF
200,412

Investment Overview

Marcus & Millichap is please to present for sale the fee-simple interest offering of 650 Race Street, Rockford, IL. The subject property is a 200,412 square-foot facility that will be offered to be purchased as a sale-leaseback, which will be executed at close of escrow. The building is currently occupied by Piranha, a leading provider of metal fabrication and cutting equipment company. At close of escrow, current ownership will be offering a sign a 15-year lease with multiple 5-year options to renew. The offering will operate on an absolute net lease structure, containing zero landlord responsibilities. The property is located in Rockford which was ranked the 5th largest city in the state of Illinois according to the 2023 population census (147,389). The purchase of this offering presents an investor with the opportunity to acquire a completely passive industrial investment. At the current list price of $6,500,000 the offering will generate an NOI of $601,236 which equates to a capitalization rate of 9.25%

Investment Highlights

  • Single-tenant industrial investment opportunity
  • Passive investment offering | 15-year absolute net lease structure
  • Strategic location | 5th largest city in Illinois
  • Priced significantly below replacement cost at $32/SF
  • High yield offering | 9.25% cap rate on in-place income
  • Strong labor force in immediate surrounding area

Exclusively Listed By

Financing By

Office Warehouse

650 Race St.

Listing Price: $6,500,000

Cap Rate
9.25%
Gross SF
200,412
Price/Gross SF
$32.43
Lot Size
12.72 acres
Year Built
2006
Rentable SF
200,412

Investment Highlights

  • Single-tenant industrial investment opportunity
  • Passive investment offering | 15-year absolute net lease structure
  • Strategic location | 5th largest city in Illinois
  • Priced significantly below replacement cost at $32/SF
  • High yield offering | 9.25% cap rate on in-place income
  • Strong labor force in immediate surrounding area

Investment Overview

Marcus & Millichap is please to present for sale the fee-simple interest offering of 650 Race Street, Rockford, IL. The subject property is a 200,412 square-foot facility that will be offered to be purchased as a sale-leaseback, which will be executed at close of escrow. The building is currently occupied by Piranha, a leading provider of metal fabrication and cutting equipment company. At close of escrow, current ownership will be offering a sign a 15-year lease with multiple 5-year options to renew. The offering will operate on an absolute net lease structure, containing zero landlord responsibilities. The property is located in Rockford which was ranked the 5th largest city in the state of Illinois according to the 2023 population census (147,389). The purchase of this offering presents an investor with the opportunity to acquire a completely passive industrial investment. At the current list price of $6,500,000 the offering will generate an NOI of $601,236 which equates to a capitalization rate of 9.25%

Exclusively Listed By

Financing By

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