Single-Tenant NNN
New
For Sale
$1,468,691
1432 S Main St, Rockford, IL 61102
Established retail tenancy occupies a freestanding store within a neighborhood shopping center anchored by a regional grocer.
Property Size9,451 SF
Lot Size0.88 Acres
Price / SF$155.40
Days on Market3
Property Features for 1432 S Main St
General Information
Standard status
Active
Size
9,451 SF
Lot size
0.88 Acres
Property subtype
Retail
Additional Details
Anchor Co-Tenants
Food Market La Chiquita & Taqueria, Rent-A-Center, Mobil Gas Station
Building Details
Buildings
1
Tenancy
Single
Listing Agency:
Los Angeles - Orange County
(949) 724-5542
Listed By:
Adam Friedlander · License #1806555
(949) 724-5542
Source:
Colliers
Added: Aug 28
Changed: Aug 30
Last Checked: Aug 30 at 12:57PM
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 Los Angeles - Orange County
Investment Insights
Based on property information with market context.
This single-tenant retail property contains a 9,451 SF Family Dollar store on a 0.88-acre parcel at 1432 S Main Street in Rockford, Illinois. The tenant has occupied the location since 2007 and recently completed an early 10-year lease extension, leaving 10.75 years in the primary term. The agreement also includes three 5-year renewal options with 10% increases during each option period.
The lease is structured as NN, with the landlord responsible for the roof, structure, walls, parking lot, lighting, and snow removal. Family Dollar provides a corporate guarantee, and the tenant contributes toward CAM costs with annual increases of 2.00%. The property forms part of a neighborhood shopping center anchored by Food Market La Chiquita & Taqueria, with Rent-A-Center and a Mobil Gas Station also identified in the center.
The lease is structured as NN, with the landlord responsible for the roof, structure, walls, parking lot, lighting, and snow removal. Family Dollar provides a corporate guarantee, and the tenant contributes toward CAM costs with annual increases of 2.00%. The property forms part of a neighborhood shopping center anchored by Food Market La Chiquita & Taqueria, with Rent-A-Center and a Mobil Gas Station also identified in the center.
Key Highlights
- 9,451 SF Family Dollar store on a 0.88‑acre lot
- 10.75 years remaining in the primary lease term
- Three 5‑year renewal options with 10% increases in each option period
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$114,915
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,298,300
$2.3M
Cap Rate 7%
$1,641,643
$1.6M
Cap Rate 9%
$1,276,833
$1.3M
Market Conditions
NOI Build-Up for 9,451 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$170.1K $18.00/SF
− Vacancy
−$6.0K −$0.63/SF
EGI
$164.2K $17.37/SF
− OpEx
−$49.2K −$5.21/SF
NOI
$114.9K $12.16/SF
Area
Rockford, IL
Vacancy
3.50%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,298,300
Cap Rate 7%
$1,641,643
Cap Rate 9%
$1,276,833
Alternative Uses
Best Use
Retail
$1.64M
$1.44M – $1.92M
NOI $114,915 @ 7.0% cap · market cap 7.82%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.51M
$2.20M – $2.93M
NOI $175,970 @ 7.0% cap · market cap 11.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Single-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
275
Businesses Nearby
5k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Mobil
Shops & Services
5,311 visits/mo
0.2 miles
Demographics for 61102, IL
17,281
Population
7,386
Households
2.3
Avg Household Size
36
Median Age
8%
College-Educated
78%
High-School Grad
34.1 sq mi
ZIP Area
507
Density / Sq Mi
$42,506
Median Household Income
$28,790
Median Earnings
$850
Median Rent
$95,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Established retail tenancy occupies a freestanding store within a neighborhood shopping center anchored by a regional grocer.
Where is this nnn property located?
The property is located at 1432 S Main St Rockford, IL.
What is the asking price?
The asking price for this property is $1,468,691.
What are key features of this property?
This property features: 9,451 SF Family Dollar store on a 0.88‑acre lot; 10.75 years remaining in the primary lease term; Three 5‑year renewal options with 10% increases in each option period
