6280 State St, Unit 102 Rockford, IL 61108-2516

Property Details for 6280 State St

Year built

1996

Construction

STEEL FRAME

Property size

25,000 SF

Zone code

C3

Property type

Commercial real estate

APN

12-22-376-003

APU

1222376003

Description

This exceptional Class A, single-story retail property, located at 6280 E State St, Rockford, IL 61108, presents a compelling investment opportunity. Boasting 24,800 square feet of net rentable space, the property is currently 85% occupied by three established tenants: Old Chicago, Boot Barn, and Sally Beauty. The property benefits from a strong 7.25% cap rate, generating a substantial net operating income (NOI) of $271,992. The asking price is $3,750,000, translating to $151.21 per square foot. The property features a fee simple ownership structure and is situated in a prime retail location, shadow-anchored by a 130,000 square foot Schnucks grocery store, driving significant foot traffic. The center is strategically positioned at a signalized intersection along E. State St, a major four-lane thoroughfare within Rockford's premier retail corridor. This location is part of a larger, three-mile retail node along E. State Street, serving both local and destination shoppers. The property's roof was replaced in 2015, minimizing immediate capital expenditure needs. The current leases are multi-tenant net leases (NNN) with a remaining term of 7.6 years, and rent bumps vary for each tenant. This stabilized investment offers a compelling combination of strong cash flow, prime location, and minimal capital requirements. This is a rare opportunity to acquire a high-performing retail asset in a thriving market.

Location Insight

City

Rockford

County

Winnebago

State

Illinois

Longitude

-88.9943

Latitude

42.2692

CBSA code

40420

CBSA name

ROCKFORD, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments