Investment Summary
Price | $925,000 |
Cap Rate | 8.58% |
NOI | $79,380 |
Lease Term | Five (5) Years Remaining with Three (3) Five (5) Year Option Periods |
Lease Type | Absolute NNN lease, with tenant responsible for taxes, insurance and maintenance including roof, structure, and parking lot |
Rental Increases | 5% Rental Increases Every Five (5) Years in Option Periods |
Year Built | 1978 |
Building Size | 5,894 SF |
Lot Size | 0.95 acres (41,437 SF) |
Status | Available |
Lead Brokers | Vincent Aicale Vice Chairman 415.690.5522 vince.aicale@cushwake.com CA RE License #01728696 Ryan Forsyth Vice Chairman 415.413.3005 ryan.forsyth@cushwake.com CA RE License #01716551 Michael T. Yuras, CCIM Vice Chairman 415.481.0788 michael.yuras@cushwake.com CA RE License #01823291 Scott Crowle Executive Managing Director 415.604.4288 scott.crowle@cushwake.com CA RE License #01318288 |
Investment Highlights
SOUTH PARK MALL OUTPARCEL ON SIGNALIZED HARD CORNER
» Large 0.95-acre parcel featuring a 5,894 SF restaurant and 62 parking spaces
» Five years of income guaranteed by Denny’s (NASDAQ:”DENN”), one of America’s largest full-service restaurant chains with 1,594 locations globally
» Prominent location at the signalized intersection of 52nd Avenue and 27th Street which experiences 14,000 vehicles per day
» Convenient location near high-traffic transportation corridors including John Deere Road (33,000 AADT), I-74/Hiawatha Pioneer Trail (72,000 AADT), and I-280/Everett McKinley Dirksen Memorial Highway (19,100 AADT), providing seamless connectivity to the site
» Two miles from Rock River Plaza, a Walmart Supercenter anchored center with over 32 stores and just minutes from UnityPoint Health – Trinity Moline (38 beds), and Genesis Medical Center (150 beds)
» Adjacent to Moline Bell Hotel (90 rooms) and across from Comfort Inn (61 rooms) and Best Western Airport Inn (47 rooms), providing a nearby captive customer base for the site
» Beneficial proximity to Blackhawk College (3,743 students), and Augustana College (2,500 students)
HIGH-INCOME COMMUNITY WITH CONVENIENT ACCESS TO OVER 115K RESIDENTS WITHIN FIVE MILES
» Dense nearby population of 115,476 within five miles
» Average annual household income of $83,624 within three miles (projected to increase 15% by 2027)
» Central location with Chicago 165 miles to the east and Des Moines 170 miles to the west of the site, allowing the site to capture commuter traffic
» Well-positioned less than a mile from Quad Cities International Airport (1,389 direct employees), the third-busiest commercial airport in Illinois
Property Description
» Prime Retail Environment: Infill location, and prominent South Park Mall outparcel (60 stores), and within two miles of Rock River Plaza, a thriving shopping center anchored by a Walmart Supercenter with over 32 stores
» Strategic Intersection Location with Excellent Transportation Connectivity: Situated at the signalized intersection of 52nd Avenue (8,300 AADT) and 27th Street (14,000 AADT), ensuring maximum visibility and exposure. Additionally, the site offers convenient access to major transportation corridors such as John Deere Road (33,000 AADT), I-74 (72,000 AADT), and I-280 (19,100 AADT)
» Hotel Proximity Advantage: Adjacent to Moline Bell Hotel (90 rooms) and across from Comfort Inn (61 rooms) and Best Western Airport Inn (47 rooms), providing a captive customer base near the site
» Healthcare and Education Hub: Minutes away from UnityPoint Health – Trinity Moline (38 beds) and Genesis Medical Center (150 beds), as well as in beneficial proximity to Blackhawk College (3,743 students) and Augustana College (2,500 students), offering access to a steady flow of potential customers
» Vibrant Local Market: Surrounded by a five-mile population of 115,476, the area boasts an average annual household income of $83,624 within three miles, with a projected 15% increase by 2027, demonstrating the growth potential of the local market
» Central Location with Regional Reach: Centrally positioned between Chicago and Des Moines, the site is conveniently located less than a mile from Quad Cities International Airport, the third-busiest commercial airport in Illinois, which employs 1,389 direct employees, facilitating easy accessibility for travelers and business visitors