Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    7340 State St E Rockford, IL 61108

    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    40,731 SF retail space available on Rockford’s top retail corridor.

    Property size:
    40,731 SF
    Lot size:
    3.84 Acres

    Property Features for 7340 State St E

    General Information

    Size
    40,731 SF
    Lot size
    3.84 Acres

    We can help!

    Listing Contact
    Karen Walsh
    Source: Moodyscre

    Listing Agency: CBRE, INC. Listing Agent: Karen Walsh

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Rockford Retail Space on State

    A 40,731 square foot retail space is available for rent on Rockford’s top retail corridor. Constructed in 1996 and renovated in 2016, the space may be divided into approximately 10,000 square feet and approximately 30,000 square feet configurations. The property benefits from high traffic counts of 24,900 vehicles per day and excellent visibility. Highly visible pylon signage is available on E. State Street. Access is provided from E. State Street at Buckley Drive via a signalized intersection, and from Sundae Drive via a right-in/right-out access point.
    Location Intelligence

    Current Use by Public Records

    RAC Acceptance Furniture Rental Service The RoomPlace Furniture Store easyhome Furnishings Furniture Rental Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Rockford
    County
    Winnebago
    State
    Illinois
    Longitude
    -88.9736241
    Latitude
    42.2706958

    Nearby Similar for Lease

    • $7 SF/Yr
      5,800 SF

      Prime Industrial Building with Solar

      5,800 sq ft industrial building with upgraded offices and solar.
      4583 American Rd, Rockford, IL 61109
      View Details
    • $15 SF/Yr
      5,700 SF

      High-Traffic Retail Space in Rockford

      Prime retail location with high visibility and easy access.
      6905-6943 E State St, Rockford, IL 61108
      View Details
    • Contact for pricing
      100,000 SF

      Rockford Warehouse with Logistics Solutions

      100,000 SF warehouse with comprehensive logistics and storage solutions.
      1122 Milford Ave, Rockford, IL 61109
      View Details
    • $1,100,000
      4,547 SF

      Rockford Professional Office Complex

      Versatile office spaces in a prime Rockford location.
      7268 Argus Dr, Rockford, IL 61107
      View Details
    • Contact for pricing
      100,000 SF

      Rockford Warehouse with Exterior Storage

      100,000 SF warehouse with flexible lease arrangements available.
      4550 Kishwaukee St, Rockford, IL 61109
      View Details
    • Contact for pricing
      26,000 SF

      Rockford Multi-Story Office Building

      Flexible office suites with amenities in a well-connected location.
      4949 Harrison Ave, Rockford, IL 61108
      View Details
    • $10 SF/Yr
      2,667 SF

      Upscale Shopping Center Retail Space

      Retail space available in established Rockford shopping center.
      1605 N Alpine Rd, Rockford, IL 61107
      View Details
    • $19 SF/Yr
      5,551 SF

      Turnkey Bar & Grill Opportunity

      Fully equipped bar and grill available for lease assignment.
      5880 E State St, Rockford, IL 61108
      View Details
    • Contact for pricing
      210,980 SF

      Rockford Industrial Space with Cranes

      Industrial space with cranes and convenient access to major routes.
      650 Race St, Rockford, IL 61101
      View Details
    • Contact for pricing
      16,632 SF

      Class-A Office Space Available

      Professional office spaces available in high-traffic, central location.
      6000 State St E, Rockford, IL 61108
      View Details
    • $12 SF/Yr
      54,176 SF

      Hamilton Centre Suites Available

      Machesney Park retail & medical office space.
      613 Harlem Rd, Machesney Park, IL 61115
      View Details
    • Contact for pricing
      30,000 SF

      Rockford Office Space Available

      Prestigious Rockford office suites, 150-5,169 sq ft.
      6801 Spring Creek Rd, Rockford, IL 61114
      View Details

    FAQs

    What type of property is this?
    Retail space - 40,731 SF retail space available on Rockford’s top retail corridor.
    Where is this retail space located?
    The property is located at 7340 State St E Rockford, IL.
    What are key features of this property?
    This property features: - Prime 40,731 SF space on Rockford’s top retail corridor; - Excellent visibility with high traffic counts at 24,900 VPD; - Divisible to +/- 10,000 SF and +/- 30,000 SF
    (815) 218-3438
    Request Owner's contact information
    7340 State St E Rockford, IL 61108
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    7340 State St E
    Rockford, IL 61108
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    7340 State St E Rockford, IL 61108
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Karen Walsh
    (815) 218-3438
    Learn more
    Google sign-in failed. Please try again or use another login method.