Southgate Plaza

52,000 SF | 90% Leased | Retail Building | Rockford, IL 61109 | $3,300,000 ($63/SF) | 7.40% Cap Rate

Asking Price $3,300,000

Property Type: Retail
Square Feet: 52,000 SF
Price / Square Foot: $63

Listing Contacts

Brian Goldman

Verified Profile

Fabian Sahagun

Verified Profile

Property Info

Property Overview

CapRock Realty is pleased to present Southgate Plaza, located at 1221 – 1241 Sandy Hollow Rd in Rockford, IL. Southgate Plaza is 90% leased, with an additional 10% vacant for value-add. The property consists of a free-standing 52,000 square foot multi-tenant building. The combined daily traffic counts at the subject's intersection are approximately 21,650 VPD. Tenants include Dollar General, Southgate Mini-mall, Oriental Buffet, and AT&T, encompassing 10 (Ten) individual suites. A new QuikTrip is currently under construction in front of the property, slated for completion in 2024, which will position Southgate Plaza as a central hub for the local community. This new addition, along with the recent leasing to Northern Illinois Food Bank for a food pantry and a storage company moving into the former Kmart building, promises to generate substantial traffic to the shared parking lot.

Property Details

Class: C
Year Built/Renovated: 1991/2024
Stories: 1
Property Subtype: Storefront
Lot Size (sq. ft): 53,143 SF

Highlights

Prime Retail Location

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