2607 20Th St Rockford, IL 61109

Property Details for 2607 20Th St

Year built

1992

Lot size

1.10 lot acres

Property size

11,382 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional value-add investment opportunity presents a 11,382 square foot, multi-tenant retail shopping center situated on a 1.1-acre lot in Rockford, Illinois. The property, comprised of two single-story buildings constructed in 1992 and renovated in 2002, boasts 11 individual units currently operating at 70% occupancy. Located at 2607 20th Street, this prime retail space benefits from high visibility and ample parking, with frontage directly across from an Aldi grocery store. The property features pylon and facade signage, enhancing its marketing potential. The asking price is $675,000, translating to $59.30 per square foot. The property is zoned C-3, allowing for a variety of commercial uses. This NNN-leased property offers a strong potential for increased rental income through lease-up of the currently vacant units. The property's location in Rockford, the largest city in Illinois outside the Chicago metropolitan area, provides excellent access to a substantial consumer base. Its proximity to US 20 and I-39 ensures convenient access for both customers and employees. This is a rare opportunity to acquire a well-positioned retail center in a thriving market with significant upside potential. The property's address is 2607-2693 20th Street, Rockford, IL 61109, and the APN is 15-01-228-029.