Deere Ridge Centre for sale - Belvidere

Retail-Commercial for Sale
Catylist Listing ID: 30165869
Property Subtypes: Free-Standing Building, Mixed Use, Other, General
Building Size (RSF): 27,460 SF
Gross Land Area: 224,972 SF
Sale Price: $775,000
Unit Price: $28.22 PSF
Ceiling: 18 ft.
Property Use Type: Net Leased Investment (NNN), Investment, Vacant/Owner-User
Building Name: Deer Ridge Centre
Usable Size (USF): 27,460 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 45
Last Updated: 8/16/2018

Overview / Comments

The subject property consists of two building, one being rented as a church and part of the other building being used for a long-term medical practice. The remaining three units are currently vacant. This complex hosted the original site of Belvidere's John Deere Dealership for over 25 years and later converted into the Crafters Mall.

Land size is 5.16 acres and can be divided.

The building being occupied by the church has 8,397 SF and the other building with 4 units is 19,063 SF.

There are many possible uses for the three vacant units, including office, retail, storage etc.

Real Estate Taxes for 2016 $ 2,333.62

Additional Details

Nearest MSA: Rockford
County: Boone
Submarket Type: Central Business District
Taxing Authority: Boone County
Tax ID/APN: 06-31-200-008
Zoning: BOONE COUNTY B-2
Retail Clientele: General, Family
Property Located Between: Belvidere Road & Farmington Way
Property Visibility: Excellent
Largest Nearby Street: Belvidere Road
Feet of Frontage: 237
Traffic/Vehicle Count: 23,500
Highway Access: I-90/ Rt 20
Airports: CHICAGO ROCKFORD INTERNATIONAL
Site Description: Irregular shape. Access from Logan Avenue and Farmington Way. The site contains surplus land to the east and south of the subject building. The site can be split to allow the surplus land to be sold separately. The site is relatively flat-sloping, and is not in a flood zone.
Area Description: Traffic count 23,500/day per IDT. Subject is in the county, contiguous to the Belvidere City limits. There is a mixture of commercial retail, industrial, and single family dwellings.
Tenancy: Multiple Tenants
Total Number of Buildings: 2
Number of Stories: 1
Typical SF / Floor: 19,063 SF
Property Condition: Good
Year Built: 1967
Construction/Siding: Steel Frame
Exterior Description: Metal Exterior
Total Parking Spaces: 100
Parking Ratio: 4 (per 1000 SF)
Parking Type: Surface
Parking Description: Ample parking for all five rentable units.
Sprinklers: None
Heat Type: Natural Gas
Heat Source: Central
Air Conditioning: Engineered System, Package Unit
Internet Access: T1/T3
Interior Description: 5 units with carpet, poured concrete, Linoleum, acoustic ceiling panels, mixture of fluorescent and incandescent lighting.
Lot Frontage: 236.67
Lot Depth: 1000.01
Water Service: Municipal
Sewer Type: Municipal
Land Ownership: Fee Simple
Legal Description: 31-44-4 WLY 300' OF W 30 AC NE & S OF RD 6413 LOGAN AVE 97-4-11 EXPT EXCEPT 55.4% BLGD 1 & 14 PKG SP

Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 7,067 24,145 36,168
Median Age: 34.61 33.52 36.83
Households: 2,282 8,253 12,530

Contact

Photograph of Listing Agent

Tom Ewing CCIM CPM RPA MCR

KELLER WILLIAMS REALTY SIGNATURE ICEx Member
© Copyright 2001-2018 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Northern Illinois Commercial Association of REALTORS nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.