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Cornerstone Medical Building

1235 N Mulford Road
Rockford, IL 61107
Availability: Price:$8,200,000 Size:61,174 SF
Shipping: Marcus & Millichap is pleased to announce the offering of the Cornerstone Medical Building located at 1235 North Mulford Road in Rockford, Illinois.
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Description





Agents

BEN TASHAKORIAN | SENIOR MANAGING DIRECTOR


Senior Director: Institutional Property Advisors (IPA)
License: CA 01333884
Dir: (858) 373-3176
Fax: (858) 373-3110
btashakorian@ipausa.com

DAVID BENJAMIN | Associate


Member: National Healthcare Group
License: CA 01934605
Dir: (858) 373-3165
Cell: (303) 386-5291
david.benjamin@marcusmillichap.com

Description

Marcus & Millichap is pleased to announce the offering of the Cornerstone Medical Building located at 1235 North Mulford Road in Rockford, Illinois. This attractive two-story, elevator-served medical office building was constructed in 1988 and renovated in 2003. Comprised of 61,174 square feet, the subject is situated in close proximity to four different hospitals with an aggregate of 1,068 beds.

The project is anchored by Medical Pain Management Services who occupies 18% of the project. MD SkinCenter and Northern Illinois Retina occupy an additional 31%. The MOB has a solid anchor tenant and diverse mix of specialized tenant spaces.

The subject property is located with convenient access to Interstates 90 and 30, two of Rockford, Illinois’ major throughways. With a prime location, 84.8% occupancy, stable anchor tenants, and diverse practices, the Cornerstone Office Building offers investors stable income and makes this an attractive real estate investment.

Features

  • 61,174-Square Foot, Multi-Tenant, Medical Office Building
  • 60% Leased Through 2024
  • Located in Close Proximity to Four Hospitals with 1,068 Beds
  • Value-Add Opportunity - 84.8% Occupied

Offering Price

$8,200,000

Net Rentable Area

61,174 SF

Price Per SF

$137.31

Cap Rate

8.59%

Land Area

5.48 AC

Details

  • 22932240
  • Office
  • Price:$8,200,000 Size:61,174 SF
  • New

Shipping Information

  • Item Requires Shipping
  • Marcus & Millichap is pleased to announce the offering of the Cornerstone Medical Building located at 1235 North Mulford Road in Rockford, Illinois.

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