7143 E State St 132,262 SF 100% Leased Retail Building Rockford, IL 61108 For Sale
INVESTMENT HIGHLIGHTS
- The Property is 100% leased and generates a NOI of approximately $1,014,825
- Well located within Rockford's primary commercial corridor and less than a mile from Interstate 90 (I-90)
- All three (3) Tenants are on NNN leases and have term through at least 2031
- Surrounded by big box and national retailers Wal-Mart Supercenter, Sam’s Club, Home Depot, Lowes Home Improvement, Target, Kohl’s, Dick’s, & PetSmart
EXECUTIVE SUMMARY
7029 - 7143 E. State Street, also known as State and Perryville Shopping Center, is located in Rockford, Winnebago
County, Illinois. The building was constructed in 1990, renovated in 2022, and is located at the southeast corner of State
Street & Perryville Road featuring visibility and exposure to approximately 41,900 VPD. The center is 100% leased by three (3) Tenants: Ashley Home Furniture (50,000 SF), Planet Fitness (25,508 SF), and Urban Air Trampoline Park (35,217 SF). At the 100% occupancy level, the center produces a NOI of approximately $1,014,825. The property includes a 445-surface level parking lot, pylon signage along State Street, and is located within Rockford's primary commercial corridor. Neighboring retailers nearby include Wal-Mart Supercenter, Sam’s Club, Home Depot, Lowes Home Improvement, Target, Kohl’s, Dick’s, PetSmart, Burlington Coat Factory and Bob's Discount Furniture, among many others.
County, Illinois. The building was constructed in 1990, renovated in 2022, and is located at the southeast corner of State
Street & Perryville Road featuring visibility and exposure to approximately 41,900 VPD. The center is 100% leased by three (3) Tenants: Ashley Home Furniture (50,000 SF), Planet Fitness (25,508 SF), and Urban Air Trampoline Park (35,217 SF). At the 100% occupancy level, the center produces a NOI of approximately $1,014,825. The property includes a 445-surface level parking lot, pylon signage along State Street, and is located within Rockford's primary commercial corridor. Neighboring retailers nearby include Wal-Mart Supercenter, Sam’s Club, Home Depot, Lowes Home Improvement, Target, Kohl’s, Dick’s, PetSmart, Burlington Coat Factory and Bob's Discount Furniture, among many others.
PROPERTY FACTS
Sale Type
Investment
Sale Conditions
Property Type
Retail
Property Subtype
Freestanding
Building Size
132,262 SF
Building Class
A
Year Built/Renovated
1990/2022
NOI
£787,541
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Loading Docks
2 Exterior
Building FAR
0.36
Lot Size
8.38 AC
Zoning
N/Av, Rockford
Parking
445 Spaces (3.36 Spaces per 1,000 SF Leased)
Frontage
AMENITIES
- Signage
NEARBY MAJOR RETAILERS
PROPERTY TAXES
| Parcel Number | 12-23-351-008 | Improvements Assessment | £1,611,260 |
| Land Assessment | £456,156 | Total Assessment | £2,067,416 |
