Neighborhood Shopping Center with Planet
For Sale
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112 S State St, Belvidere, IL 61008
Neighborhood shopping center in Belvidere remodeled in 2019, featuring a recently leased Planet Fitness anchor.
Property Size62,538 SF
Days on Market122
Property Features for 112 S State St
General Information
Standard status
Active
Size
62,538 SF
Property subtype
Retail
Occupancy
97%
Site & Location
Traffic Count
21,100 vehicles/day
Road Access
Yes
Building Details
Year Renovated
2019
Listing Agency:
SRS Real Estate Partners Chicago
(312) 279-5345
Listed By:
Sean Lutz · License #IL 475132482
Source:
Crexi
Added: Apr 11
Changed: Aug 8
Last Checked: Jul 22 at 10:22AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of SRS Real Estate Partners Chicago
Investment Insights
Based on property information with market context.
Riverside Plaza is a 62,538 SF neighborhood shopping center offered for the fee simple interest. The property is 97% occupied and was remodeled in 2019, including the addition of a new anchor, Planet Fitness, which recently executed a new 10-year lease. The other two anchors are Salvation Army and Dollar General, each with over six years remaining; Salvation Army renewed in 2018 and Dollar General renewed in 2017. Ownership also replaced the roof in 2019 with a 20-year manufacturer’s warranty.
Riverside Plaza is positioned at the hard corner intersection of South State Street and Meadow Street, with a large pylon sign on State Street. The remarks cite 21,100 vehicles passing by daily, with State Street serving as the main thoroughfare through Belvidere and into Rockford, IL. Nearby national/credit tenants include a 24-hour Walmart Supercenter, Aldi, O’Reilly Auto Parts, and McDonald’s.
The property is also listed as less than 1 mile from the General Mills factory, described as employing approximately 530 workers, and General Mills recently completed a $60 million expansion of its plant. The 5-mile trade area is described as having more than 34,000 residents with average household income over $76,500.
Riverside Plaza is positioned at the hard corner intersection of South State Street and Meadow Street, with a large pylon sign on State Street. The remarks cite 21,100 vehicles passing by daily, with State Street serving as the main thoroughfare through Belvidere and into Rockford, IL. Nearby national/credit tenants include a 24-hour Walmart Supercenter, Aldi, O’Reilly Auto Parts, and McDonald’s.
The property is also listed as less than 1 mile from the General Mills factory, described as employing approximately 530 workers, and General Mills recently completed a $60 million expansion of its plant. The 5-mile trade area is described as having more than 34,000 residents with average household income over $76,500.
Key Highlights
- 62,538 SF neighborhood shopping center in Belvidere, IL, 97% occupied
- Remodeled in 2019 and added a new anchor: Planet Fitness with a recently executed new 10‑year lease
- Anchors Salvation Army and Dollar General have 6+ years remaining and renewed in 2018 and 2017, respectively
Property Analytics
Current Use
Lease Details
21,100 VPD
Traffic count
97%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
597
Businesses Nearby
11k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
6,059 visits/mo
0.1 miles
PNC Bank
Shops & Services
5,295 visits/mo
0.1 miles
Demographics for 61008, IL
33,747
Population
13,406
Households
2.5
Avg Household Size
40
Median Age
21%
College-Educated
83%
High-School Grad
84.3 sq mi
ZIP Area
400
Density / Sq Mi
$75,833
Median Household Income
$38,509
Median Earnings
$953
Median Rent
$185,200
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
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Similar Off Market Nearby
- Landmark Plaza — 530 S State St, Belvidere, IL 61008
- North State Shopping Center — 1105 N State St, Belvidere, IL 61008
- Riverside Plaza — 112 - 1300 S State St, Belvidere, IL 61008
Frequently Asked Questions
What type of property is this?
Shopping center - Neighborhood shopping center in Belvidere remodeled in 2019, featuring a recently leased Planet Fitness anchor.
Where is this shopping center located?
The property is located at 112 S State St Belvidere, IL.
What are key features of this property?
This property features: 62,538 SF neighborhood shopping center in Belvidere, IL, 97% occupied; Remodeled in 2019 and added a new anchor: Planet Fitness with a recently executed new 10‑year lease; Anchors Salvation Army and Dollar General have 6+ years remaining and renewed in 2018 and 2017, respectively
