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This exceptional investment opportunity presents a fee-simple ownership of a 13,656 square foot, single-story retail building situated on a 1.53-acre lot in Rock Island, Illinois. The property, completely renovated in 2023, is currently 100% occupied by a Dollar Tree store under a Net Lease (NN+) agreement with a corporate guarantee. The lease commenced November 16, 2023, and has a remaining term of approximately 9.4 years, extending to February 28, 2034, with three, five-year renewal options, each including a rent increase of $6,952.50 ($0.51/SF). The property boasts a strong 7.50% cap rate and a Net Operating Income (NOI) of $166,860. Located at a high-traffic, four-way signalized intersection on 3100 11th St, 61201, the property benefits from excellent visibility and accessibility. The surrounding area features a dense population, with approximately 123,154 residents within a five-mile radius and 276,993 within ten miles, exhibiting an average household income exceeding $106,131 annually within a ten-mile radius. Daily traffic counts at the intersection reach 16,268 vehicles. Strong co-tenancy includes national brands such as McDonald's, O'Reilly Auto Parts, USPS, Dollar General, Conoco, and Shell. The asking price for this exceptional investment is $2,224,800. This property offers a compelling combination of a strong tenant, favorable lease terms, and a prime location, making it an ideal addition to any portfolio. The building was constructed in 1996 and underwent a complete renovation in 2023.
Highlights
2023-renovated Dollar Tree (formerly Walgreens) on a 1.53-acre hard corner lot with a four-way signalized intersection.
9.5 years remaining on a 10-year, corporately guaranteed lease with three, 5-year options including $6,952.50 ($0.51/SF) rent increases per option.
Strong demographics: ~123,154 residents within 5 miles and ~276,993 within 10 miles, with average household income exceeding $106,131 annually within 10 miles.
High traffic count: 16,268 vehicles daily at the intersection.
Excellent co-tenancy with national retailers including McDonald's, O'Reilly Auto Parts, USPS, Dollar General, Conoco, and Shell.
Investment-grade tenant (S&P BBB rating): Dollar Tree, the second-largest US discount retailer (over 16,000 locations), demonstrated strong pandemic performance.
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The property value estimates provided on this website are automated calculations based on publicly available data, user-submitted information, and proprietary algorithms. These estimates are not appraisals and should not be used as a substitute for a professional valuation by a licensed appraiser.
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