2350 4th Ave - Office FOR SALE


Rock Island, IL 61201- Downtown Rock Island
$1,326,000 USD
859-907-2006
2350 4th Ave, Rock Island, IL for Sale
$1,326,000 USD
Office - FOR SALE
1/19
null | 8% Cap Rate

2350 4th Ave
Rock Island, IL 61201
Downtown Rock Island


HIGHLIGHTS

  • U.S. Government credit (AA+ S&P credit rating)
  • High-Quality and Well-Maintained Masonry Building 
  • Build-to-Suit in 2001
  • Lease Renewed for 10-Years effective 5/24/2022
  • Long-Term Tenant since 2001
  • Busy Facility Serving all of Rock Island County

OVERVIEW

The Ficke Team of Colliers has been retained to exclusively market for sale the Social Security Administration (SSA) located at 2350 4th Ave., Rock Island, IL  61021. This single-tenant facility, built-to-suit in 2001, consists of 9,260 rentable square feet.  The site includes 0.47 acres and is an extremely busy facility.  The GSA/SSA executed a 10-year, 5-year firm term renewal effective May 24, 2022, with the firm term expiring May 24, 2027, and full term expiring 5/24/2032, illustrating their commitment to the location.  There were no tenant improvement requirements for this well-maintained building.  Serving all of Rock County Illinois, the next closest SSA to Rock Island Illinois is 38 miles in Galesburg Illinois.  This lease provides investors with a stable cash flow from this long-term U.S. Government tenant (AA+ S&P credit rating).   Rock Island is part of the Quad Cities area, which consists of Rock Island, Moline, and East Moline in Illinois, and Davenport and Bettendorf on the Iowa side of the river. The Quad Cities area combined population is close to 400,000.  The area has major, private sector employers ranging from global manufacturing giants to food suppliers, from aerospace to defense. The Quad Cities comprises several close municipalities in eastern Iowa and western Illinois. It is easily accessible by rail, barge, and air and sits at the junction of Interstates 74, 80, and 88.  This mid-sized metropolitan area is large enough for a great transportation infrastructure, cultural attractions, and high quality of life, yet small enough for ease of travel, low cost of living, and low crime rate.

FOR SALE DETAILS

PRICE

$1,326,000 USD

PRICE/SF

$143 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Social Security Administration (SSA)

PROPERTY TYPE

Office

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2001

SPRINKLERS

-

PARKING SPACES

36

LAND DETAILS

LAND ACRES

0.47 AC

LAND SF

20,473 SF

ZONING

RI

APN/PARCEL ID

07-35-225-003

ASK ABOUT THIS PROPERTY

Geoff FickeColliersMore Info
859-907-2006

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Geoff FickeColliersMore Info
859-907-2006

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.