800 42nd Ave Dr Moline, IL 61265-6894

Property Details for 800 42nd Ave Dr

Year built

1996

Construction

FRAME

Property size

80,384 SF

Zone code

MOL

Property type

Commercial real estate

APN

17-17-103-003

APU

1717103003

Description

This exceptional investment opportunity presents a brand-new, 20-year ground lease for a McDonald's restaurant located at 800 42nd Ave Dr, Moline, IL 61265. The property, built in 2024, encompasses approximately 3,983 square feet on a 0.96-acre lot and features a double drive-thru. This is a relocation store, demonstrating strong market viability. The absolute NNN lease, commencing August 22, 2024, and expiring August 21, 2044, includes a corporate guarantee from McDonald's USA, LLC. Rent increases of 10% every five years are built into the lease, ensuring significant long-term yield growth. The property boasts a 4.00% cap rate and a current NOI of $81,996. With 31 parking spaces and a prime location as an outparcel to Target and Kohl's, this property benefits from high traffic volume and strong demographics. The 3-mile radius boasts over 53,000 residents with an average household income exceeding $94,000 within one mile. The property is zoned C-Commercial and has four, five-year lease options. This is a rare opportunity to acquire a high-performing, low-maintenance investment with a blue-chip tenant in a thriving retail corridor. The asking price is $2,050,000, representing a price per square foot of $514.69.

Location Insight

City

Moline

County

Rock Island

State

Illinois

Longitude

-90.5258

Latitude

41.4694

CBSA code

19340

CBSA name

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

Property Tax & Assessments