Retail-Commercial for Sale
Catylist Listing ID: 30378577
Property Subtypes: Free-Standing Building, Mixed Use, Street Retail
Building Size (RSF): 21,038 SF
Gross Land Area: 7,650 SF
Sale Price: $300,000
Unit Price: $14.26 PSF
In Opportunity Zone? Yes
Property Use Type: Investment, Vacant/Owner-User
Building Name: FA READ CENTER
Usable Size (USF): 21,038 SF
Sale Terms: Cash to Seller
Cap Rate: 26.5%
Average Occupancy Rate: 50
Last Updated: 10/6/2019

Overview / Comments

The F.A. Read Center has been a Freeport landmark since 1877. Located in the heart of downtown Freeport, it is within walking distance to eateries, banks, and all Downtown Freeport has to offer. It bustles with foot traffic, and is located across from the free city municipal parking lot. It has entrances on both sides of the block. Excellent returns, call for complete financials.

Additional Details

Nearest MSA: Freeport
County: Stephenson
Taxing Authority: Stephenson County IL
Tax ID/APN: 18-14-31-209-004
Retail Clientele: General, Business
Property Visibility: Good
Largest Nearby Street: Van Buren
Feet of Frontage: 50
Traffic/Vehicle Count: 2,950
Highway Access: us business 20 1 block away
Airports: Freeport municipal, Rockford Regional. O hare is about 2 hours
Site Description: the building takes up the entire distance between exchange and stephenson.
Area Description: Bustling downtown area with various businesses, eateries and coffee shops.
Tenancy: Multiple Tenants
Total Number of Buildings: 1
Number of Stories: 3
Typical SF / Floor: 5,846 SF
Property Condition: Good
Year Built: 1877
Year Renovated: 1982
Roof Type: Flat
Construction/Siding: Brick
Exterior Description: All brick building with masonry facade
Parking Description: Free city municipal lot on exchange street side
Passenger Elevators: 1
Freight Elevators: 1
Heat Type: Natural Gas
Heat Source: Central
Internet Access: DSL, T1/T3
Interior Description: Open floor plan on floors 1 and 2, floor 3 is comprised of S & R dance studio
Lot Frontage: 50
Lot Depth: 150
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: fee simple

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 9,804 26,459 31,243
Median Age: 32.41 41.62 42.58
Households: 3,923 11,357 13,309


Photograph of Listing Agent

Brian Borchardt

A-1 Agency ICEx Member
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