East Moline Truck
For Sale
Contact for pricing
5035 Morton Dr, East Moline, IL 61244
Truck terminal with significant FedEx capital improvements for sale.
Property Size130,338 SF
Price / SF$172.68
Days on Market189
Property Features for 5035 Morton Dr
General Information
Standard status
Active
Size
130,338 SF
Class
A
Property subtype
Industrial
Occupancy
100%
Lease Type
NN
Investment Type
Net Lease
Net Operating Income
$1,350,405
Building Details
Year Built
2008
Tenancy
Single
Listing Agency:
Newmark | Chicago - 500 West Monroe St.
Listed By:
Andy Gallas · License #IL 475156024
Source:
Crexi
Added: Feb 12
Changed: Aug 8
Last Checked: Aug 18 at 10:54PM
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 Newmark | Chicago - 500 West Monroe St.
Investment Insights
Based on property information with market context.
This commercial real estate property, identified as a truck terminal and industrial property, is available for sale. The property has undergone over $5.5M in significant FedEx capital improvements. The property has a size of 130338 square feet.
Key Highlights
- Significant FedEx capital improvements (over $5.5M)
- FedEx Freight tenant
- Built in 2008
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$1,017,626
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.52%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$20,352,520
$20.4M
Cap Rate 7%
$14,537,514
$14.5M
Cap Rate 9%
$11,306,956
$11.3M
Market Conditions
NOI Build-Up for 130,338 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$1.27M $9.72/SF
− Vacancy
−$69.7K −$0.53/SF
EGI
$1.20M $9.19/SF
− OpEx
−$179.6K −$1.38/SF
NOI
$1.02M $7.81/SF
Area
Rock Island County, IL
Vacancy
5.50%
Lease Rate
$9.72 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$20,352,520
Cap Rate 7%
$14,537,514
Cap Rate 9%
$11,306,956
Alternative Uses
Best Use
Warehouse
$14.54M
$12.72M – $16.96M
NOI $1,017,626 @ 7.0% cap · market cap 4.52%
Second Best
Industrial
$11.97M
$10.48M – $13.97M
NOI $838,045 @ 7.0% cap · market cap 3.72%
Theoretical Best
Healthcare Medical
$22.20M
$19.42M – $25.90M
NOI $1,553,811 @ 7.0% cap · market cap 6.90%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
39
Businesses Nearby
Explore this area
Business Placement
Demographics for 61244, IL
24,004
Population
10,135
Households
2.4
Avg Household Size
41
Median Age
21%
College-Educated
87%
High-School Grad
26.9 sq mi
ZIP Area
892
Density / Sq Mi
$66,827
Median Household Income
$39,823
Median Earnings
$828
Median Rent
$140,600
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Truck terminal - Truck terminal with significant FedEx capital improvements for sale.
Where is this truck terminal located?
The property is located at 5035 Morton Dr East Moline, IL.
What is the asking price?
The asking price for this property is $22,507,000.
What are key features of this property?
This property features: Significant FedEx capital improvements (over $5.5M); FedEx Freight tenant; Built in 2008
