Fully Occupied Four-Tenant Retail
For Sale
$5,389,000
6280 E State St, Rockford, IL 61108
Outparcel to State Street Market with long-term leases and recent tenant commitments.
Property Size24,800 SF
Days on Market48
Property Features for 6280 E State St
General Information
Standard status
Active
Size
24,800 SF
Property subtype
Retail
Occupancy
100%
Building Details
Building Size
24,800 SF
Buildings
1
Tenancy
Multi
Listing Agency:
CP Partners
Listed By:
Benjamin Udell · License #IL #471.022764
(847) 345-2827
Source:
Cppcre
Added: Sep 16
Changed: Nov 2
Last Checked: Nov 1 at 4:31AM
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 CP Partners
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Investment Insights
Based on property information with market context.
This four-tenant retail center is fully occupied, with approximately 7 years of WALT across its lease roster. Three tenants executed leases since 2024, providing recent leasing activity within the property. The center functions as an outparcel to State Street Market and is positioned along the primary east-west commercial thoroughfare in the trade area.
The property is surrounded by major retail destinations, including the adjacent 300K SF Target-anchored Rockford Crossings and the 435K SF Kohl’s-anchored Forest Plaza across the street. The nearby 193K SF shopping center anchored by Schnucks, Burlington, and PetSmart adds further retail concentration to the surrounding commercial environment. The property is located at 6280 E State St in Rockford, Illinois.
The property is surrounded by major retail destinations, including the adjacent 300K SF Target-anchored Rockford Crossings and the 435K SF Kohl’s-anchored Forest Plaza across the street. The nearby 193K SF shopping center anchored by Schnucks, Burlington, and PetSmart adds further retail concentration to the surrounding commercial environment. The property is located at 6280 E State St in Rockford, Illinois.
Key Highlights
- Fully occupied four‑tenant retail center
- Approximately 7 years of WALT across the lease roster
- Three of four tenants signed leases since 2024
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$301,543
Cap Rate
5.60%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$6,030,860
$6.0M
Cap Rate 7%
$4,307,757
$4.3M
Cap Rate 9%
$3,350,478
$3.4M
Market Conditions
NOI Build-Up for 24,800 SF
Gross rent
$446.4K $18.00/SF
− Vacancy
−$15.6K −$0.63/SF
EGI
$430.8K $17.37/SF
− OpEx
−$129.2K −$5.21/SF
NOI
$301.5K $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%
$6,030,860
Cap Rate 7%
$4,307,757
Cap Rate 9%
$3,350,478
Alternative Uses
Best Use
Retail
$4.31M
$3.77M – $5.03M
NOI $301,543 @ 7.0% cap · market cap 5.60%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$6.60M
$5.77M – $7.70M
NOI $461,756 @ 7.0% cap · market cap 8.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,227
Businesses Nearby
1.2M
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Apparel 27%
Shops & Services 23%
Dining 19%
Superstores 12%
Target
Superstores
143,239 visits/mo
0.3 miles
Kohl's
Apparel
73,997 visits/mo
0.3 miles
Schnucks
Groceries
52,773 visits/mo
0.2 miles
Portillo's
Dining
52,017 visits/mo
0.2 miles
Dollar Tree
Shops & Services
50,915 visits/mo
0.1 miles
Demographics for 61108, IL
29,660
Population
12,650
Households
2.3
Avg Household Size
39
Median Age
24%
College-Educated
87%
High-School Grad
10.9 sq mi
ZIP Area
2,721
Density / Sq Mi
$63,046
Median Household Income
$34,856
Median Earnings
$986
Median Rent
$128,300
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Similar Off Market Nearby
- Forest Plaza — 6125 E State St, Rockford, IL 61108
- Perryville Crossings — 731 S Perryville Rd, Rockford, IL 61108
- Marketplace of Rockford — 5830 E State St, Rockford, IL 61108
- Mulford Village Mall — 6116 Mulford Village Dr, Rockford, IL 61107
- State Street Market — 6380 E State St, Rockford, IL 61108
Frequently Asked Questions
What type of property is this?
Shopping center - Outparcel to State Street Market with long-term leases and recent tenant commitments.
Where is this shopping center located?
The property is located at 6280 E State St Rockford, IL.
What is the asking price?
The asking price for this property is $5,389,000.
What are key features of this property?
This property features: Fully occupied four‑tenant retail center; Approximately 7 years of WALT across the lease roster; Three of four tenants signed leases since 2024
