For Sale
$450,000

2529 11Th St Rock Island, IL 61201

NNN Leased Medical Office, 8 Years Left

Overview

Added:
Dec 11, 2024
Days on market:
127
This exceptional investment opportunity presents a 1,800 square foot, single-tenant, NNN-leased animal care clinic in Rock Island, IL. The property, built in 1976, sits on a 0.21-acre lot with 14 parking spaces and boasts 100% occupancy. The current lease, commencing November 30, 2022, and expiring November 29, 2032, includes two 5-year renewal options and features a 3% annual rent increase. The asking price is $450,000, representing a price per square foot of $250 and an attractive 8.49% cap rate, based on a current NOI of $38,192. The property enjoys high visibility on 11th Street, a busy thoroughfare with significant daily traffic, and benefits from a strong demographic profile in its immediate trade area, including high average household incomes. The tenant, a well-established veterinary practice support group, provides a stable and reliable income stream with limited landlord responsibilities, making this an ideal low-management investment for a passive investor. The property's location is convenient to other businesses, including HyVee, Dollar Tree, and Dollar General. The APN is 16-11-104-004.

Highlights

  • 8 years remaining on initial lease term with two 5-year renewal options.
  • Lease features 3% annual rent increases.
  • Tenant is Western Veterinary Partners, providing stable income and limited landlord responsibilities.
  • High visibility location on 11th Street, averaging 9,132 vehicles daily, with a monument sign.
  • Strong demographics: 5-mile radius boasts over 131,000 residents, 59,000+ employees, and $92,489 average household income.
  • Located near HyVee, Dollar Tree, and Dollar General.

Property Details for 2529 11Th St

Property type
Retail properties, Office properties
Square Feet
1,800 SF
Year Built
1976
Buildings
1
Stories
1
Lot Size (sq. ft)
9,148 SF
Units
1

Location Insight

City
Rock Island
County
Rock Island
State
Illinois
Latitude
41.4851196
Longitude
-90.5826418
2529 11Th St, Rock Island, Illinois

FAQs

What type of property is this?
Retail property - NNN Leased Medical Office, 8 Years Left
Where is the retail property located?
The property is located at 2529 11Th St Rock Island, IL.
What is the asking price?
The asking price for this property is $450,000.
What are key features of this property?
This property features: 8 years remaining on initial lease term with two 5-year renewal options.; Lease features 3% annual rent increases.; Tenant is Western Veterinary Partners, providing stable income and limited landlord responsibilities.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
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2529 11Th St
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