Israel Perlow Purchases Mixed-Use Property In Rockford For $6.8 Million With Cameron Bradford As The Broker
3720 East State Street
$6,800,000
$90/SF
Building Size
75,000 SF
Asset Type
Mixed-use
Closing
Sep 18, 2026
About this deal
AI
The transaction involved a mixed-use asset located at 3720 East State Street in Rockford, IL. It was sold for $6,800,000, encompassing a total square footage of 75,000, with a price per square foot of $90.
Summary of transaction details:
- Property Type: Mixed-use
- Transaction Amount: $6,800,000
- Address: 3720 East State Street
- Market: Rockford, IL
- Buyer: Israel Perlow
- Seller: Israel Friedman & Carolyn Stratton - PrimeSpace Capital; Yitz Rabinowitz
- Broker: Cameron Bradford - Marcus & Millichap
- Square Footage: 75,000
- Price per Square Foot: $90
PrimeSpace Capital, in partnership with Axela Development, was involved in the repositioning of the retail asset, which included the addition of a Class A CubeSmart Self Storage facility. The investment yielded a 22.51% project-level IRR and a 3.1x equity multiple over the hold period, marking a significant achievement for the PrimeSpace Capital team upon completion of this sale.
On the Map
$6,800,000
$90/SF
Mixed-use
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Players
Rockford Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
2.33%
Cash-on-Cash
-0.67%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93