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    7123 Cherryvale Blvd Rockford, IL 61112
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    Property profile & analytics

    7123 Cherryvale Blvd Rockford, IL 61112

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    • Retail properties & Spaces
    • 30,760 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 7123 Cherryvale Blvd

    Property size
    30,760 SF
    Property type
    Retail properties & Spaces
    Property subtype
    Office Spaces

    Description

    This exceptional 30,760-square-foot single-tenant retail/office space presents a unique investment opportunity in Winnebago County. Ideally situated adjacent to Cherryvale Mall, the largest regional shopping center in Northern Illinois, this property benefits from unparalleled visibility and accessibility. Boasting a prominent location on Cherryvale North Boulevard, with convenient access via S. Perryville Road, the property experiences high daily traffic exceeding 28,000 vehicles. Its strategic proximity to the intersection of I-90 and I-39 ensures exceptional reach and convenience for customers and employees alike. The entire 30,760 square feet is currently vacant, offering a blank canvas for a wide range of retail or office uses. The property features ample opportunities for building and pylon signage, maximizing brand visibility and attracting potential customers. This is an exceptional chance to establish a strong presence in a thriving retail corridor with high traffic counts and excellent access to major transportation arteries. The property's size and location make it suitable for a variety of businesses seeking a high-profile location in a densely populated area. The single-tenant occupancy provides flexibility and control for the future tenant. This property is located in Winnebago County, Illinois.

    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
    -88.9771
    Latitude
    42.249

    Comparable in this City

    • Value Estimation
      $585,000
      6,120 SF

      1542 Temple Ln

      OFFICE (GENERAL) • 6,120 SF
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    • Value Estimation
      $600,000
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      1917 Daimler Rd

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    • Value Estimation
      $655,000
      6,603 SF

      1628 Temple Ln

      OFFICE (GENERAL) • 6,603 SF
      1628 Temple Ln, Rockford, IL 61112-1045
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    • Value Estimation by Request
      10,840 SF

      1920 Daimler Rd

      OFFICE (GENERAL) • 10,840 SF
      1920 Daimler Rd, Rockford, IL 61112-1065
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    • Value Estimation
      $725,000
      6,528 SF

      1848 Daimler Rd

      OFFICE (GENERAL) • 6,528 SF
      1848 Daimler Rd, Rockford, IL 61112-1019
      View Details
    • Value Estimation by Request
      8,176 SF

      1877 Daimler Rd

      OFFICE (GENERAL) • 8,176 SF
      1877 Daimler Rd, Rockford, IL 61112-1005
      View Details

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    Similar Nearby for Lease

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      Rockford Retail Space Available

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      Retail and office spaces available within CherryVale Mall.
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      Rockford Office Space Available

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      Retail space with high traffic near Cherryvale Mall.
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    7123 Cherryvale Blvd
    Rockford, IL 61112
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    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
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