Add Listing
    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

    4940 E State Street Rockford, IL

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    $9 SF/Yr

    Premier Rockford office space with move-in ready layout.

    Type:OFFICE
    Property size:
    9,384 SF
    Lot size:
    2.35 Acres
    Added:
    Nov 17, 2025
    Days on Market:
    135
    Last Refresh:
    Mar 29 at 9:20 pm

    Property Features for 4940 E State Street

    General Information

    Standard status
    Active
    Size
    9,384 SF
    Lot size
    2.35 Acres
    Property subtype
    OFFICE

    Spaces For Lease

    at 4940 E State Street Contact us

    We can help!

    Listing Contact
    Nathan Bryant, CCIM
    Nathan Bryant, CCIM

    Listing agent Nathan Bryant, CCIM License #471013468

    Listing office Keller Williams Realty Signature LP2

    Listing date Nov 17, 2025

    Source Moodyscre

    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 Keller Williams Realty Signature LP2

    Overview

    Class A Office Space Available

    This Class A office suite, situated along East State Street, a well-known commercial corridor in the region, offers a move-in ready layout suitable for professional, service-based, or corporate users seeking an upscale and functional workspace. The property is adjacent to Rockford University and is located 1 mile from Interstate 90. The location benefits from excellent traffic counts and a population of over 173,468 within a 5-mile radius. The property offers 9,384 square feet of space.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Dr. Edgardo A. Reyes ... Pediatrician Sarah C. Anderson ... Counselor Thuy N. Blair, ... Pharmacy Lori J. De ... Physician Aerotek Employment Agency

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Rockford
    County
    Winnebago
    State
    Illinois
    Longitude
    -89.021
    Latitude
    42.2653

    Nearby Similar for Lease

    • $11/mo

      Rockford East Side Retail Center

      Retail and office spaces available in established Rockford shopping center.
      3600 East State Street, Rockford, IL, 61108
      View Details
    • $14/mo

      Rockford Retail/Office Space Available

      Retail and office units available in established neighborhood center.
      300-320 N. Alpine Road, Rockford, IL 61107
      View Details
    • $17/mo

      Move-in Ready Dental Office Space

      Fully built-out dental office with six operatories for rent.
      1107 S Mulford Rd, Rockford, IL 61108
      View Details
    • $13/mo

      Automotive Center End Unit

      3,200 SF end unit with multiple overhead doors.
      1701-1719 E Riverside Blvd, Rockford, IL
      View Details
    • $9/mo

      Rockford Office Space For Rent

      Highly versatile office space in a premier Rockford location.
      4960 East State St., Rockford, IL
      View Details
    • $19/mo

      Turnkey Bar & Grill Opportunity

      Fully equipped bar and grill available for lease assignment.
      5880 E State St, Rockford, IL
      View Details
    • $8/mo

      Office Space with Street Visibility

      Office spaces available with street visibility and signage included.
      4223 E State St, Rockford, IL
      View Details
    • Contact for pricing

      Rockford Retail Space on State

      40,731 SF retail space available on Rockford’s top retail corridor.
      7340 East State Street, Rockford, IL, 61108
      View Details
    • Contact for pricing

      Prime Industrial Building with Solar

      5,800 sq ft industrial building with upgraded offices and solar.
      4583 AMERICAN ROAD, Rockford, IL
      View Details
    • $15/mo

      Move-in Ready Medical Office Space

      Retail/medical space available at Riverside Pavilion with high visibility.
      5947 E Riverside Blvd, Rockford, IL
      View Details
    • $18/mo

      Downtown Rockford Office Space Available

      Eight-story highrise with panoramic views and flexible office spaces.
      303 N MAIN STREET, Rockford, IL
      View Details
    • $10/mo

      Broadway Retail/Office Space Available

      9,200 SF retail/office space with high visibility and parking.
      3929 Broadway , Rockford, IL
      View Details

    FAQs

    What type of property is this?
    Office units - Premier Rockford office space with move-in ready layout.
    Where is this office units located?
    The property is located at 4940 E State Street Rockford, IL.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: Class A office suite, move‑in ready and designed for professional, service‑based, or corporate users.; Located on East State Street, a recognized commercial corridor, providing superior accessibility and professional appeal.; Excellent traffic counts.
    (815) 218-1371
    We can help!
    Listing Contact
    Nathan Bryant, CCIM
    Nathan Bryant, CCIM
    Real Estate License ID: 471013468
    Learn More
    Request Owner's contact information
    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.
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!