Single-Tenant NNN
For Sale
Contact for pricing
1432 South Main Street, 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 Market41
Property Features for 1432 South Main Street
General Information
Standard status
Active
Size
9,451 SF
Lot size
0.88 Acres
Property subtype
Retail
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$106,480
Additional Details
Anchor Co-Tenants
Food Market La Chiquita & Taqueria, Rent-A-Center, Mobil Gas Station
Building Details
Year Built
2009
Buildings
1
Tenancy
Single
Listing Agency:
Colliers - Rosemont, Illinois
Listed By:
Peter Block · License #471002226
(847) 384-2840
Source:
Crexi
Added: Aug 26
Changed: Sep 24
Last Checked: Oct 4 at 9:21AM
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 Colliers - Rosemont, Illinois
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 / Yr
$114,915
Cap Rate
7.82%
Suggested Prices Based on Cap Rates
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
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 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
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Open Analytics
Current Use
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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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 South Main Street 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
