Just Listed: Verizon Wireless Next Gen Store | Rockford (Chicago) IL | New Construction

1899 N Perryville Rd Rockford, IL 61107

1899 N Perryville Rd, Rockford, IL, 61107
Verizon Next Gen Store
1899 N Perryville Rd, Rockford, IL, 61107
FOR SALE NNN Property
Property Type:
Single Tenant Retail (NNN)
Amount:
$2,250,000
Cap Rate:
6.24%
Last Verified:
Oct 20, 2020

  • Brand-new single-tenant Verizon Wireless investment opportunity, offering a new 10-year modified triple net (NNN) lease.
  • Attractive 10% rental increases every five years in the initial term and throughout the two (2), five-year options.
  • Brand-new 2020 construction, opened May 22nd. 
  • Verizon Wireless is the largest telecommunications provider in The United States.
  • Franchisee guarantee by Cellular Sales of Knoxville, Inc., a management company that operates ±770 Verizon Wireless stores in 41 states.
  • Average household income of ±$97,352 in a 3-mile radius (Source: Esri).
  • 2020 population of ±295,190 in a 10-mile radius (Source: Esri).
  • Rockford is the county seat of Winnebago County, located northwest of Chicago, Illinois. 
  • Top employers in Rockford include: Rockford Public Schools (±4,890 employees), Mercyhealth (±4,520 employees), Fiat Chrysler Automobiles (±3,749 employees), SwedishAmerican Health System (±3,375 employees), and UPS (±2,203 employees) (Source: rockfordil.com, 2020).
  • Nearby national retailers include Meijer, Bank of America, US Bank, Home Depot, Starbucks, and more.

Additional URLs

Map of 1899 N Perryville Rd, Rockford, IL, 61107

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What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.