5407-5409 E State St - Service Station FOR SALE


Rockford, IL 61108- East Rockford
$708,000 USD
570-762-6075
5407-5409 E State St, Rockford, IL for Sale
$708,000 USD
Service Station - FOR SALE
1/4
null | 6.5% Cap Rate

5407-5409 E State St
Rockford, IL 61108
East Rockford


HIGHLIGHTS

  • Recent Lease Extension | Rare 3% Annual Rent Increases | Established Automotive Service Location
  • NNN Lease Structure | Fee Simple Ownership | Minimal Landlord Responsibilities
  • Strong Retail Corridor | National Retailer Presence | 30,600 VPD
  • Strong Demographics In 5-Mile Trade Area

OVERVIEW

• Tenant recently executed a new extension, extending the lease through June 2032 • Current contractual rent of $46,000 annually ($3,833.33/month) with 3%annual increases throughout term and Two (5-Year) renewal options • Grease Monkey has operated at the property since 2012, demonstrating a long-term commitment to the location

FOR SALE DETAILS

PRICE

$708,000 USD

PRICE/SF

$216 USD /SF

CAP RATE

6.5%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Grease Monkey | Recent Extension

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Service Station

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1993

SPRINKLERS

-

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.5 AC

LAND SF

21,780 SF

ZONING

C2

APN/PARCEL ID

12-28-127-008

ASK ABOUT THIS PROPERTY

Jack CornellSRS Real Estate PartnersMore Info
570-762-6075

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Jack CornellSRS Real Estate PartnersMore Info
570-762-6075

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.