Office Warehouse
2136 12th St
2136 12th St, Rockford, IL 61104
Listing Price: $5,000,000
Investment Overview
Marcus & Millichap is pleased to present the fee-simple sale offering of 2136 12th Street, a multi-building industrial campus located in Rockford, Illinois. The property is comprised of 393,181 square-feet of industrial property that is leased to a variety of local and national tenants.
The subject property offers many different variations of space, ranging from 800 to 91,000 square feet. With majority of the rent roll being on short term leases (many Month-to-Month) a landlord has the ability to increase rents on an annual basis at their discretion. With a significant amount of vacant space, a landlord is presented with a value-add opportunity to increase rental income by continuing to lease space. Current ownership has recently completed capex projects including roofs, replacement of drive-in doors, paint and more.
The purchase of this offering presents an investor with a true value-add opportunity while stepping into an above market return day one. At the current list price of $5,000,000 the investment generates an in-place NOI of $652,295 which equates to a capitalization rate of 13.05%.
Investment Highlights
- Multi-tenant true value-add industrial opportunity
- Low basis offering below replacement cost | List price of $12.72/SF
- Average rental rate of $2.76/SF Gross
- High yield offering | 13.05% cap rate on in-place income
- Low cost alternative space available for lease to increase NOI and potential outdoor storage
- 2.9% vacancy rate for industrial space 10,000-100,000 SF within 5-mile radius
Exclusively Listed By
Listing Price: $5,000,000
Investment Highlights
- Multi-tenant true value-add industrial opportunity
- Low basis offering below replacement cost | List price of $12.72/SF
- Average rental rate of $2.76/SF Gross
- High yield offering | 13.05% cap rate on in-place income
- Low cost alternative space available for lease to increase NOI and potential outdoor storage
- 2.9% vacancy rate for industrial space 10,000-100,000 SF within 5-mile radius
Investment Overview
Marcus & Millichap is pleased to present the fee-simple sale offering of 2136 12th Street, a multi-building industrial campus located in Rockford, Illinois. The property is comprised of 393,181 square-feet of industrial property that is leased to a variety of local and national tenants. The subject property offers many different variations of space, ranging from 800 to 91,000 square feet. With majority of the rent roll being on short term leases (many Month-to-Month) a landlord has the ability to increase rents on an annual basis at their discretion. With a significant amount of vacant space, a landlord is presented with a value-add opportunity to increase rental income by continuing to lease space. Current ownership has recently completed capex projects including roofs, replacement of drive-in doors, paint and more. The purchase of this offering presents an investor with a true value-add opportunity while stepping into an above market return day one. At the current list price of $5,000,000 the investment generates an in-place NOI of $652,295 which equates to a capitalization rate of 13.05%.
Exclusively Listed By
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