Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2554 Charles St Rockford, IL 61108

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2554 Charles St Rockford, IL 61108

    View on Map
    • Retail properties & Spaces
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Guilford Investments LLC / Financial Advisor

    Property Details for 2554 Charles St

    Property type
    Retail properties & Spaces
    Property subtype
    Office properties & Spaces

    Description

    This exceptional 2,601 square foot office/retail space is ideally situated at the intersection of Charles Street and South Rockford Avenue, benefiting from high visibility and significant daily traffic of 21,500 vehicles. The property features a desirable storefront design with abundant natural light, complemented by convenient front parking for both customers and employees. This single-tenant space is perfect for a variety of businesses, offering flexibility for executive offices, traditional office setups, or medical office practices. The Rockford Plaza location boasts a strong tenant mix, including established businesses such as UW Health, Stockholm Inn, Edward Jones, Fanny May, and T-Mobile, further enhanced by the presence of Schnucks and McDonald's as shadow anchors. This established community center is poised for further enhancement with planned renovations to the façade and parking lot, along with the installation of brand new pylon signage, all slated for completion in 2024. This presents a unique opportunity to establish a business in a thriving location with excellent visibility and a supportive tenant community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Rockford
    County
    Winnebago
    State
    Illinois
    Longitude
    -89.0554
    Latitude
    42.2606

    Comparable in this City

    • Value Estimation by Request
      1,636 SF

      6535 Lexus Dr

      Medical Office Space • 1,636 SF
      6535 Lexus Dr, Rockford, IL 61108
      View Details
    • Value Estimation by Request
      17,256 SF

      6282 State St

      Medical Office Space • 17,256 SF
      6282 State St, Rockford, IL 61108
      View Details
    • Value Estimation by Request
      95,751 SF

      2516 Charles St

      Neighborhood centers • 95,751 SF
      2516 Charles St, Rockford, IL 61108
      View Details
    • Value Estimation by Request
      95,751 SF

      2518 Charles St

      Office properties & Spaces • 95,751 SF
      2518 Charles St, Rockford, IL 61108
      View Details
    • Value Estimation by Request
      14,376 SF

      3600-3640 State St

      Office properties & Spaces • 14,376 SF
      3600-3640 State St, Rockford, IL 61108
      View Details
    • Value Estimation by Request
      10,515 SF

      7431 State St

      Neighborhood centers • 10,515 SF
      7431 State St, Rockford, IL 61108
      View Details

    Similar Nearby for Sale

    • $1,956,280
      14.97 Acres

      Rockford Land for Development

      14 acres of divisible land suitable for commercial or industrial development.
      14 Acres Perryville & Fincham Rd, Rockford, IL 61108
      View Details
    • $553,230
      Pending

      Rockford Land for Commercial Development

      4.23-acre lot ideal for commercial, office, or multi-family development.
      4 Acres Perryville & Fincham Rd, Rockford, IL 61108
      View Details
    • Contact for pricing
      41,618 SF

      Retail Property Near Major Retailers

      Retail property in close proximity to major retailers.
      7340 E State St, Rockford, IL 61108
      View Details
    • Contact for pricing

      Rockford Office Investment Opportunity

      Well-leased office property in East Rockford with diversified tenants.
      415 S Mulford Rd, Rockford, IL 61108
      View Details
    • Contact for pricing
      16,722 SF

      Rockford Retail or Office Space

      20,500 SF retail or office space in Rockford, IL.
      4401 Charles St, Rockford, IL 61108
      View Details
    • $4,000,000

      Retail Center with 32 Stores

      126,648 SF retail center with 72.4% occupancy for sale.
      3800 East State St, Rockford, IL 61108
      View Details

    Similar Nearby for Lease

    • Contact for pricing

      Retail Strip Center Near Walmart

      Retail strip center with high visibility near prime retailers.
      7431 E State St, Rockford, IL 61108
      View Details
    • Contact for pricing

      Retail/Office Space Near Retailers

      Retail and office spaces available near major retailers.
      7340 E State St, Rockford, IL 61108
      View Details
    • Contact for pricing

      Retail, Office, Restaurant Space Available

      Multi-tenant property suitable for retail, office, or restaurant use.
      5416 E State St, Rockford, IL 61108
      View Details
    • Contact for pricing

      Former Bank Property For Lease

      High-visibility commercial space in a thriving location.
      4048 E State St, Rockford, IL 61108
      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
    • Contact for pricing
      5,511 SF

      Turnkey Bar & Grill Opportunity

      Fully equipped bar and grill available for lease assignment.
      5880 E State St, Rockford, IL 61108
      View Details
    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.
    2554 Charles St
    Rockford, IL 61108
    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!