3800 E. State Street
3800 E. State Street, Rockford, IL 08619
Marketing description
Located on the Miracle Mile section of Rockford's dominant retail corridor, 3800 - 4010 E. State St. Shopping Center is an iconic shopping center that has been a well known gathering point since its construction in the 1960's.
A long time home for many local businesses, the center has received interest from national brands in recent years, including CSL Plasma in 2017, The Salvation Army in 2019, and for 5 years served as the Amazon hiring facility until it consolidated this function into its latest distribution center in mid 2025. The free-standing Subway and On State restaurants continue to bring traffic to the center's front door, and being located just to the east of Rockford's primary DMV, provides a steady flow of visitors to the immediate area.
3800 - 4010 E. State St. is poised to begin its next phase of management and development and offers an exceptional opportunity for an engaged, hands on owner seeking significant upside.
Investment highlights
- With a healthy combination of long time tenants and new arrivals as well as national brands partnered with locally based businesses, 3800 - 4010 E. State St. has maintained a strong presence in Rockford's east side retail offerings.
- The E. State St. corridor has been the dominant retail corridor for the Rockford MSA and, with its wealth of tenants, is expected to remain so for the foreseeable future.
- With E. State Streets growth now reaching I-90 to the east, new demand is shifting back west with tenants infilling openings in established centers.
- Surrounded by housing that is now seeing a younger owner as new buyers purchase well-built existing homes in long-time desirable neighborhoods, 3800 - 4010 is well positioned to see a resurgence in demand for convenient shopping from the surrounding population.
- Starting at 9.46%, 3800 - 4010 is expected to see NOI return climb to just under 15% during the projected 5-year holding period.
- Leveraged cash returns have the potential to grow to over 25%.
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