1947 Lyford Rd Rockford, IL 61107

This exceptional self-storage facility in Rockford, Illinois, presents a compelling investment opportunity. The property, located at 1947 N Lyford Rd, boasts 51,898 square feet of net rentable space across nine buildings, comprising 209 units. Built in 1966 with significant renovations completed in 2023, the property features a mixed-use zoning (CG) designation, allowing for diverse income streams. Currently operating with a 7.20% cap rate and a NOI of $301,179, the asking price is $4,200,000 ($82.03/sq ft). The 7.36-acre lot offers significant expansion potential, with permits already approved for four additional buildings. This presents a substantial upside for future growth. The property benefits from its location near a newly constructed Hard Rock Casino and serves a densely populated area (approximately 41,000 within a 3-mile radius) with currently undersupplied self-storage options (saturation below 8.7%). Further upside potential exists through rental increases, as current rents are 41% below market rates. The property includes three small offices and a workshop, adding to its versatility. Parking is provided at a ratio of 0.28 spaces per 1,000 square feet. The APN is 12-13-151-007