4401 27th St Moline, IL 61265-6310

Property Details for 4401 27th St

Construction

FRAME

Lot size

3.65 lot acres

Property type

Commercial real estate

APN

17-16-111-001

APU

1716111001

Description

This exceptional investment opportunity presents a 54,670 square foot shopping center in Moline, Illinois, boasting 100% occupancy with national tenants Harbor Freight and Ollie's Bargain Outlet. The property enjoys a strong location, benefiting from synergistic retail traffic generated by nearby national retailers like Target, Kohl's, and Hobby Lobby, and convenient access to I-74 (0.2 miles). The center serves a dense residential population in the Quad Cities area and is situated near the Quad Cities International Airport. Built in 1974 and renovated in 2023, the property features a 14-year roof warranty, providing significant long-term cost savings. The two tenants are under Net Lease agreements with a weighted average lease term (WALT) of 8.5 years. The property sits on a 3.67-acre lot and is zoned B-4. The asking price is $4,300,000, reflecting an 8.71% cap rate based on a Net Operating Income (NOI) of $374,397. This NOI includes income from a newly approved EV charging station. Detailed financial information, including gross revenue ($483,656), CAM ($26,327.93), insurance ($32,256), and taxes ($29,312), is available. The property offers minimal capital expenditures and an attractive average in-place rent, providing downside protection and significant value below replacement cost. This is a rare opportunity to acquire a well-positioned, high-performing retail center with long-term lease stability.

Location Insight

City

Moline

County

Rock Island

State

Illinois

Longitude

-90.4992

Latitude

41.4697

CBSA code

19340

CBSA name

DAVENPORT-MOLINE-ROCK ISLAND, IA-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments