Property Listing No Longer Available for Sale

1432 S Main St, Rockford, IL

Shopping Center for Sale - $965,000 - 8,000 Sq. Ft.


Property Info

CIMLS#135168
Location
  1432 S Main St
  Rockford IL 61102
UpdatedJune 14th, 2011
TypeShopping Center
Price$965,000
Building8,000 Sq. Ft.

Property Description

8.5% CAP Family Dollar Store STAR net lease listing in Rockford, IL at $965K. Mike Carpenter, CCIM, Broker/Principal, Carpenter Commercial Real Estate, Dekalb, IL is the broker of record. Barry Forrest, Owner/Broker, Texas Net Lease, Dallas, TX is the client manager. CBC Southwest is the listing manager.

8.5% CAP & $81,960 NOI. 2% BBC.

6 years remaining on initial lease guaranteed by Family Dollar Corporate with four 5-year options.

8,000 SF building built in 2009 in excellent condition in a community shopping center anchored by a supermarket. In Rockford with 154,860 population just 75 mi. to Madison and 85 to Chicago

In a 5-minute drive-time, demographics are an excellent match with Family Dollar with $20M+ in unmet local retail demand in product lines compatible with a Family Dollar Store.

HIGHLIGHTS

(1) 8.5% CAP with $81,960 net operating income net lease Family Dollar Store

(2) 6 years remaining on initial lease with four 5-year options guaranteed by Family Dollar Corporate

(3) 8,000 SF building on 35,455 SF lot built in 2009 in excellent condition with brick and stone upgraded exterior

(4) On Main Street In community shopping center anchored by Familia Fresh Foods

(5) Proven store + $23M+ in unmet local retail demand at a 5-minute drive-time in potential Family Dollar categories

(6) At a 5-min. drive, demographics and economics appear to be very advantageous for Family Dollar location