4401 27th St - Freestanding FOR SALE


Moline, IL 61265
$4,200,000 USD
404-642-3747
4401 27th St, Moline, IL for Sale
$4,200,000 USD
Freestanding - FOR SALE
1/5
null | 7.91% Cap Rate

4401 27th St
Moline, IL 61265


HIGHLIGHTS

  • Close proximity to the interstate and SouthPark Mall.
  • Minimal capital expenditures, with a roof warranty through 2037.
  • Long term leases, with a WALT of 8.5 years.
  • Average in-place rent of $6.75 provides an attractive basis well below replacement cost with downside protection.
  • Located in the retail corridor with surrounding national tenants such as Wal-Mart, Target, Lowe's, Menards, Hobby Lobby, Kohl's, Petsmart and Ross.

OVERVIEW

This is an incredible investment opportunity with 100% occupancy from national tenants Harbor Freight and Ollie's Bargain Outlet. The Property gains synergistic retail consumers from national retailers Target, Kohl’s, and Hobby Lobby to the east, while benefiting from close proximity (0.2 miles) to the I-74 interchange to the west. The Property features the dense residential population of the “Quad Cities” to the north, along with proximity to the area’s International Airport, just south below the Rock River. The current OM has not been updated. PLEASE READ! Harbor Freight have now waived their termination clause and wanted to add two more 5 year options to their lease. This means that they will have 7.5% increases for each option and have now committed to the site for roughly 27 more years!! (7 years remaining on the current 10 year term) Also, the adjusted current numbers to show what the NOI would look like with adjustments to Ollie's monthly portion of what they should owe towards CAM/taxes/insurance. They are as follows: Income and ExpensesGross Income                                                                                                           $369,303.96 CAM/Taxes/Insurance Paid By Tenant                                                                         $59,405.88                                                                                                                          Total: $428,709.84 Common Area Maintenance                                                                                             $35,000 Insurance                                                                                                                           $32,256 Taxes                                                                                                                                  $29,312 Operating Expenses Total                                                                                                 $96,568 Sale price  $4,200,000 NOI                                                                            $332,141.84 Cap Rate                                                                                                                     7.91%

FOR SALE DETAILS

PRICE

$4,200,000 USD

PRICE/SF

$80 USD /SF

CAP RATE

7.91%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ollie's/Harbor Freight

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1974

SPRINKLERS

-

PARKING SPACES

156

LAND DETAILS

LAND ACRES

9.48 AC

LAND SF

412,949 SF

ZONING

B-4

APN/PARCEL ID

07-6603100-15025

ASK ABOUT THIS PROPERTY

Holt MooreMoore Commercial GroupMore Info
404-642-3747

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Holt MooreMoore Commercial GroupMore Info
404-642-3747

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