Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Retail Center in High-Traffic Area Title is generated by Realmo AI

    5811 Forest Hills Rd, Rockford, IL 61114

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    16,990 SF retail strip in a dense residential area.

    Type:Retail
    Property size:
    16,990 SF
    Lot size:
    2.00 Acres
    Added:
    Mar 5, 2024
    Days on Market:
    824
    Last Refresh:
    May 12 at 10:48 pm

    Property Features for 5811 Forest Hills Rd

    General Information

    Standard status
    Active
    Size
    16,990 SF
    Lot size
    2.00 Acres
    Property subtype
    Retail

    Spaces For Lease

    at 5811 Forest Hills Rd Contact us

    Suite 1 $13/Mo

    Size
    1,652 SF
    Type
    Retail
    Former nail salon space.
    Contact us

    5861 $13/Mo

    Size
    950 SF
    Type
    Retail
    Contact us

    Suite 2-3 $13/Mo

    Size
    2,600 SF
    Type
    Retail
    Contact us

    We can help!

    Listing Contact
    Tom Wagner

    Listing agent Tom Wagner License #IL 475.172518

    Listing office Mon Ami Real Estate

    Listing date Mar 5, 2024

    Source Crexi

    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 Mon Ami Real Estate

    HighLights

    • High visibility location on a major north‑south corridor with strong traffic counts.
    • Turnkey solution with functional layouts and finished interiors ready for immediate occupancy.
    • Professionally managed center offering flexibility, visibility, and accessibility.
    • Located in a dense residential area.
    • Recent capital improvements.
    • Ample parking.

    Overview

    Forest Hills Retail Center is a neighborhood shopping plaza situated along a major north-south corridor in Rockford. The 16,990 SF retail strip is located in a dense residential area with strong traffic counts. The center, spanning over 2 acres, offers small to midsize businesses the opportunity to thrive in a well-trafficked commercial zone. It features a variety of suite sizes with functional layouts and finished interiors, ready for immediate occupancy. The center has undergone recent capital improvements and provides ample parking. It is professionally managed and offers flexibility, visibility, and accessibility for retailers and service providers.
    Location Intelligence

    Current Use by Public Records

    Keebler Kitchen Restaurant T'sassy nails llc Nail Salon Rockford Gold Exchange (Bike/Boat/Book/etc) Store

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Rockford
    County
    Winnebago
    State
    Illinois
    Longitude
    -89.0414935
    Latitude
    42.3097537

    Nearby Similar for Lease

    • $11 SF/Yr
      4,193 SF

      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 SF/Yr
      56,000 SF

      Rockford Retail/Office Space Available

      Retail and office units available in established neighborhood center.
      300-320 N. Alpine Road, Rockford, IL 61107
      View Details
    • $15 SF/Yr
      1,455 SF

      Move-in Ready Medical Office Space

      Retail/medical space available at Riverside Pavilion with high visibility.
      5947 E Riverside Blvd, Rockford, IL
      View Details
    • $12 SF/Yr
      3,200 SF

      Automotive Center End Unit

      3,200 SF end unit with multiple overhead doors.
      1701-1719 E Riverside Blvd, Rockford, IL
      View Details
    • $19 SF/Yr
      5,551 SF

      Turnkey Bar & Grill Opportunity

      Fully equipped bar and grill available for lease assignment.
      5880 E State St, Rockford, IL
      View Details
    • $9 SF/Yr
      8,559 SF

      Rockford Office Space For Rent

      Highly versatile office space in a premier Rockford location.
      4960 East State St., Rockford, IL
      View Details
    • $9 SF/Yr
      9,384 SF

      Class A Office Space Available

      Premier Rockford office space with move-in ready layout.
      4940 E. State Street, Rockford, IL
      View Details
    • $17 SF/Yr

      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
    • $4,800/Mo
      8,000 SF

      Rockford Warehouse with Fenced Lot

      8,000 SF I2 zoned warehouse with 20'+ ceilings.
      622 Tay St, Rockford, IL
      View Details
    • Contact for pricing
      40,731 SF

      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
    • $8 SF/Yr
      6,270 SF

      Retail Space in Busy Center

      6,270 SF retail space in established shopping center.
      3702-3748 N Main St, Rockford, IL
      View Details
    • Contact for pricing
      18,136 SF

      Rockford Retail/Office Space Available

      Retail and office spaces available in multi-tenant building.
      735 North Perryville Road, Rockford, IL, 61107
      View Details

    FAQs

    What type of property is this?
    Shopping center - 16,990 SF retail strip in a dense residential area.
    Where is this shopping center located?
    The property is located at 5811 Forest Hills Rd Rockford, IL.
    What is the lease rate?
    The lease rate is $13 SF/Yr.
    What are key features of this property?
    This property features: High visibility location on a major north‑south corridor with strong traffic counts.; Turnkey solution with functional layouts and finished interiors ready for immediate occupancy.; Professionally managed center offering flexibility, visibility, and accessibility.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Tom Wagner
    Real Estate License ID: IL 475.172518
    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

    Thank You for Inquiry
    5811 Forest Hills Rd, Rockford, IL 61114
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!