1947 N Lyford Rd - Lyford Storage
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1947 N Lyford Rd - Lyford Storage
51,898 SF Specialty Building Offered at $4,200,000 at a 7.23% Cap Rate in Rockford, IL 61107
Investment Highlights
- Upside in rents- Property is 41% below market rents.
- Seller will prefund construction if sale price is greater than $5.5 Million dollars.
- With $1.25MM at Close, the Seller will offer financing on the remainder of the purchase price
- Upside in expansion- Four buildings can be added.
- One mile from the newly constructed Hard Rock Casino that opened August 29th.
Executive Summary
On behalf of the Seller, Friedman is proud to bring this mixed-use facility to market in Winnebago County, IL. The vast majority of the property is used for Self-Storage, but there are three small offices and a work shop here as well. The site has room for expansion that will include four additional buildings. The new buildings are approved for construction. The buyer just needs to pick up the permits, pay the $400 fee, and can break ground immediately.
Financial Summary (Actual - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
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PROPERTY TAXES
| Parcel Number | 12-13-151-007 | Total Assessment | $303,135 (2022) |
| Land Assessment | $43,928 (2022) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $259,207 (2022) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
12-13-151-007
Land Assessment
$43,928 (2022)
Improvements Assessment
$259,207 (2022)
Total Assessment
$303,135 (2022)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024 Payable 2024
zoning
| Zoning Code | CG (Commercial General) |
| CG (Commercial General) |
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1947 N Lyford Rd - Lyford Storage
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