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    3601 16th St Moline, IL

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    Walgreens NNN lease with 11+ years remaining in Moline.

    Type:RETAIL
    Property size:
    15,120 SF
    Lot size:
    1.70 Acres
    Price / SF:
    $270/SF
    Added:
    Apr 30, 2025
    Days on Market:
    366
    Last Refresh:
    Apr 5 at 9:46 pm

    Property Features for 3601 16th St

    General Information

    Standard status
    Active
    Size
    15,120 SF
    Lot size
    1.70 Acres
    Property subtype
    RETAIL

    We can help!

    Listing Contact
    Marco DiPrinzio
    Marco DiPrinzio

    Listing agent Marco DiPrinzio License #RS285080

    Listing office Forged Real Estate

    Listing date Apr 30, 2025

    Source Moodyscre

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    All listing content including descriptions, pricing, images are the copyrighted material of Forged Real Estate

    Overview

    Moline Walgreens with NNN Lease

    This property is occupied by Walgreens, operating under a triple-net (NNN) lease with over 11 years of firm term remaining, offering a passive ownership structure. Walgreens has been operating at this location since 2002, establishing a long operating history of over 20 years within the community. The property is located at the corner of the signalized intersection between 16th Street, which has a traffic volume of 19,800 vehicles per day (VPD), and 36th Avenue, which has a traffic volume of 10,900 vehicles per day (VPD), providing ample visibility. The property also has multiple access points from both 16th Street and 15th Street D. The property size is 15,120 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Walgreens Photo (Bike/Boat/Book/etc) Store FedEx OnSite Postal Service Walgreens Pharmacy Pharmacy Coinhub Bitcoin ATM ... Atm COVID-19 Drive-Thru Testing ... Pharmacy

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Similar Places Nearby

    • Rotech — 1515 46th Ave, Moline, IL 61265
    • Walgreens Pharmacy — 3601 16th St, Moline, IL 61265
    • Family Medicine Moline — 3904 16th St, Moline, IL 61265
    • Ioan Ionescu — 3601 16th St, Moline, IL 612657259
    • William Dohogne — 3601 16th St, Moline, IL 612657259

    Location Insight

    • Map
    • Local Demand
    City
    Moline
    County
    Rock Island
    State
    Illinois
    Longitude
    -90.5072
    Latitude
    41.4781

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    FAQs

    What type of property is this?
    Drug store - Walgreens NNN lease with 11+ years remaining in Moline.
    Where is this drug store located?
    The property is located at 3601 16th St Moline, IL.
    What is the asking price?
    The asking price for this property is $4,084,000.
    What are key features of this property?
    This property features: NNN Lease with over 11 years of firm term remaining, offering a passive, hands‑free investment.; **Prime corner location at a signalized intersection with high traffic volume** (16th Street: 19,800 VPD, 36th Avenue: 10,900 VPD) and ample visibility.; Long operating history of 20+ years, indicating established community presence.
    (610) 608-2621 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Marco DiPrinzio
    Marco DiPrinzio
    Real Estate License ID: RS285080
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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