3124 N Rockton Avenue, Rockford, IL 61103
SIGNIFICANT UPSIDE POTENTIAL – Rockton Avenue Centre features an extremely unique value-add opportunity as the property is 39% leased, allowing a buyer to add nearly $600,000 of net income to the center by leasing up 74,000 square feet of vacant space consisting of five shop spaces and one outlot space, as well as one 63,070-square-foot endcap anchor position previously leased to Schnucks.
EXCELLENT ACCESSIBILITY – Situated along Rockton Avenue between Halsted Road and Glenwood Avenue, the subject offering benefits from excellent site lines and a signalized intersection providing convenient access for customers. Rockton Avenue is a main north-south thoroughfare that provides direct access to downtown Rockford less than two miles south of the center.
COMPLEMENTARY TENANT LINE-UP – The subject offering is a 39% occupied community center leased to a unique mix of retail, service, and dining tenants. The center is anchored by Rockford Public Library (8,000 square feet) and Family Dollar (7,280 square feet) who have both been at the property for at least 20 years, and features traffic driving tenants including Little Caesars, Cricket Wireless, and Lucky Nails Salon. Moreover, AB Food Mart recently executed a new 10-year lease in 15,700 square feet.
DENSE INFILL LOCATION – The center draws its consumer base from the solid demographics of Rockford and its surrounding communities, which feature a dense residential population of 147,600 people with average household incomes of $60,285 within a five-mile radius of Rockton Avenue Centre.
FREE AND CLEAR – The property is being offered “free and clear” of any debt and offers an attractive opportunity for a buyer taking advantage of favorable debt markets.
Disclaimer: The information being provided herein is for informational purposes only. No representation or warranty is made as to the accuracy or completeness of any information contained herein, including, without limitation, any information regarding the condition of the Property, the condition of title or Property descriptions.
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c/o Fisher Auction Company Inc.