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Denny’s (Dark) (Corporate Backed), Moline, IL

Denny’s (Dark) (Corporate Backed), Moline, IL


Investment Summary

Price $750,000
Cap Rate 10.59%
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

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