Skip to main content

Shopping Strip

North State Shopping Center

1119 N State St, Belvidere, IL 61008

Listing Price: $1,500,000

Cap Rate
10.88%
Gross SF
27,700
Rentable SF
27,700
Price/Gross SF
$54.15
Lot Size
1.82 acres
Year Built
1957

Investment Overview

Marcus & Millichap proudly presents North State Shopping Center, a 27,700-square-foot multi-tenant value add center located at 1119 North State Street in Belvidere, Illinois. The property is currently 67 percent leased by all local tenants except Family Dollar which occupies 34.3 percent of the center. The property benefits from being situated at two signalized intersections, multiple points of ingress, and prominent visibility from the street. With an average traffic count of approximately 21,000 cars per day and its strong location, this center has great potential for a new owner to create significant value. Belvidere is located approximately 75 miles northwest of downtown Chicago and is located in Boone County, Boone County is very well connected to the region via road, air, and rail. Interstate 90, US Highway 20, and State Highways 76 and 173 serve as the primary road transportation routes in the County, and connections to Rockford and Chicago metro areas are via these routes. Boone County is a strong industrial community, home to Daimler Chrysler Assembly Plant and the Green Giant General Mills plant.

Investment Highlights

  • Located at Two Signalized Intersections with Traffic Counts in Excess of 21,000 Vehicles Per Day
  • Value-Add Opportunity-Only 67% Occupied
  • Priced Well Below Replacement Cost ($54.15 per square foot)
  • Low Boone County Taxes
  • Over 21,000 Plus Vehicles Per Day
  • Close Proximity to The Daimler Chrysler Assembly Plant
  • Large 1.82 Acre Parcel

Exclusively Listed By

Shopping Strip

North State Shopping Center

Listing Price: $1,500,000

Cap Rate
10.88%
Gross SF
27,700
Rentable SF
27,700
Price/Gross SF
$54.15
Lot Size
1.82 acres
Year Built
1957

Investment Highlights

  • Located at Two Signalized Intersections with Traffic Counts in Excess of 21,000 Vehicles Per Day
  • Value-Add Opportunity-Only 67% Occupied
  • Priced Well Below Replacement Cost ($54.15 per square foot)
  • Low Boone County Taxes
  • Over 21,000 Plus Vehicles Per Day
  • Close Proximity to The Daimler Chrysler Assembly Plant
  • Large 1.82 Acre Parcel

Investment Overview

Marcus & Millichap proudly presents North State Shopping Center, a 27,700-square-foot multi-tenant value add center located at 1119 North State Street in Belvidere, Illinois. The property is currently 67 percent leased by all local tenants except Family Dollar which occupies 34.3 percent of the center. The property benefits from being situated at two signalized intersections, multiple points of ingress, and prominent visibility from the street. With an average traffic count of approximately 21,000 cars per day and its strong location, this center has great potential for a new owner to create significant value. Belvidere is located approximately 75 miles northwest of downtown Chicago and is located in Boone County, Boone County is very well connected to the region via road, air, and rail. Interstate 90, US Highway 20, and State Highways 76 and 173 serve as the primary road transportation routes in the County, and connections to Rockford and Chicago metro areas are via these routes. Boone County is a strong industrial community, home to Daimler Chrysler Assembly Plant and the Green Giant General Mills plant.

Exclusively Listed By

MM Texture Background
MM Textured Background Lower