Single-Tenant Freestanding
6779 E State St Rockford, IL 61108
6779 E State St, Rockford, IL, 61108
$2,062,500
For Sale
$2,062,500
Fee simple single-tenant restaurant on a 1.29-acre parcel with long remaining lease and prominent State Street exposure.
Property Size5,860 SF
Lot Size1.29 Acres
Price / SF$351.96
Days on Market110
Property Features for 6779 E State St
General Information
- Standard status
- Active
- Size
- 5,860 SF
- Lot size
- 1.29 Acres
- Property subtype
- Restaurant
Listing agency
Chicago Downtown Office
(312) 624-7010
Listed by
Brian Parmacek · License #IL: 475.132220
(312) 624-7010
Source
Marcusmillichap
Added: Apr 3 Updated: Jul 21 at 2:41AM Checked: Jul 21 at 2:57AM
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 Chicago Downtown Office
Investment Insights
Based on property information with market context.
Marcus & Millichap presents a fee simple, single-tenant freestanding restaurant building occupied by Storming Crab. The property consists of a 5,860-square-foot building on a 1.29-acre parcel. The site previously operated as a Perkins Restaurant & Bakery for 24 years, and the current operation is part of a 24-national franchise.
Located along high-traffic State Street with over 50,000 vehicles passing daily, the property benefits from strong visibility. The surrounding retail area includes major national retailers such as Target, ALDI, Ulta Beauty, Hobby Lobby, Burlington, and PetSmart.
The tenant has 10 years remaining on the lease, with two additional five-year renewal options. Rental increases are scheduled at 10% during each renewal term.
Located along high-traffic State Street with over 50,000 vehicles passing daily, the property benefits from strong visibility. The surrounding retail area includes major national retailers such as Target, ALDI, Ulta Beauty, Hobby Lobby, Burlington, and PetSmart.
The tenant has 10 years remaining on the lease, with two additional five-year renewal options. Rental increases are scheduled at 10% during each renewal term.
Key Highlights
- Fee simple, single‑tenant Storming Crab Restaurant on a 1.29‑acre parcel
- 5,860 SF freestanding building formerly operated as a Perkins Restaurant & Bakery for 24 years
- Located along high‑traffic State Street with 50,000+ vehicles passing daily
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $112.5k | $19.20 |
| − Vacancy | −$3.4k | −$0.58 |
| EGI | $109.1k | $18.62 |
| − OpEx | −$27.3k | −$4.66 |
| NOI | $81.9k | $13.97 |
5,860 SF · lease $19.20/SF/yr · vacancy 3.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$1.17M
$1.02M – $1.36M
NOI $81,852 @ 7.0% cap · market cap 3.97%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.56M
$1.36M – $1.82M
NOI $109,109 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
DFVZ Limited
Food Processing Plant
Storming Crab Rockford ...
Restaurant
Similar For Sale Nearby
FAQs
What type of property is this?
Conventional restaurant - Fee simple single-tenant restaurant on a 1.29-acre parcel with long remaining lease and prominent State Street exposure.
Where is this conventional restaurant located?
The property is located at 6779 E State St Rockford, IL.
What is the asking price?
The asking price for this property is $2,062,500.
What are key features of this property?
This property features: Fee simple, single‑tenant Storming Crab Restaurant on a 1.29‑acre parcel; 5,860 SF freestanding building formerly operated as a Perkins Restaurant & Bakery for 24 years; Located along high‑traffic State Street with 50,000+ vehicles passing daily
