3115-3131 Broadway St Quincy, IL 62301

Property Details for 3115-3131 Broadway St

Lot size

0.80 lot acres

Property size

8,651 SF

Property type

Shopping malls

Property subtype

Neighborhood centers

Description

This exceptional investment opportunity presents a 100% occupied, four-tenant retail strip center totaling 8,651 square feet, situated on a 0.8-acre lot at 3115-3131 Broadway St, Quincy, IL 62301. Anchored by Starbucks, US Cellular, and H&R Block, this property boasts a strong tenant mix of national brands, ensuring consistent cash flow. The center benefits from a prominent location, enjoying significant frontage on Broadway Street, a thoroughfare with a high volume of daily traffic (26,778 vehicles per day). The property's strategic placement as an outparcel to the Quincy Town Center, a large shopping center attracting 1.5 million annual visitors, further enhances its visibility and accessibility. All leases are triple-net (NNN), with the landlord responsible only for roof and structure maintenance, minimizing operational burdens. The current lease term averages 7.4 years, providing long-term stability and predictable income. The property's financial performance is impressive, with a Net Operating Income (NOI) of $301,952 and a compelling 7.00% capitalization rate. The average non-drive-thru rent is $29 per square foot. Three of the four tenants have demonstrated remarkable longevity, operating at this location for over 15 years. The surrounding area boasts a strong demographic profile, with 51,709 residents and an average household income of $76,804 within a 5-mile radius. This property offers a rare combination of strong tenants, excellent location, and attractive financial metrics, making it an ideal addition to any investment portfolio. The asking price is $4,314,000, representing a price per square foot of $498.67.

Location Insight

City

Quincy

County

Adams

State

Illinois

Longitude

-91.3655

Latitude

39.9355