306 Avenue Of The CitiesEast Moline, IL 61244

Property Details for 306 Avenue Of The Cities

Year built

1977

Construction

FRAME

Property size (Sq ft)

4,344 SF

Zone code

EM

Property type

Commercial real estate

APN

17-02-410-001

APU

1702410001

Description

Exceptional investment opportunity: a 4,808 sq ft car wash in East Moline, IL (306 Avenue of the Cities, 61244), situated on a 1.16-acre lot. This property boasts a strong 7.00% cap rate, generating a net operating income (NOI) of $350,000. The property is subject to a new 20-year triple-net (NNN) lease, commencing upon closing, with a corporate guarantee from Mammoth Holdings, LLC, a 130+ unit operator, ensuring consistent cash flow. Annual rent is $350,000, with built-in 1.5% annual increases, providing excellent long-term growth potential. Built in 2024, this fully occupied (100%) asset offers significant tax advantages, qualifying for accelerated and bonus depreciation. This sale-leaseback structure minimizes management responsibilities, making it an ideal addition to any passive income portfolio. The property's prime location in East Moline, Illinois, ensures high visibility and accessibility. This is a rare opportunity to acquire a high-performing, low-maintenance asset with exceptional long-term prospects. The asking price is $5,000,000.

• Alternative Use

  Use

  Valuation

  Residential

  $897,791

  Hospitality

  $822,372

  Educational

  $684,204

  Medical

  $707,735

  Retail

  $1,064,317

Location Insight

City

East Moline

County

Rock Island

State

Illinois

Latitude

41.4889

Longitude

-90.4554

CBSA code

19340

CBSA name

DAVENPORT-MOLINE-ROCK ISLAND, IA-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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