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1111 Coyne Center Rd 9,002 SF Retail Building Milan, IL 61264 $1,289,795 ($143.28/SF) 7.35% Cap Rate
Investment Highlights
- Corporate-guaranteed absolute NNN lease with zero landlord responsibilities.
- Immediate trade area with average household income exceeding $90,000 within one mile.
- Below replacement cost pricing offers downside protection and attractive entry point.
- Located in the Quad Cities region near Interstate 280, ensuring strong regional access.
- Positioned to benefit from long-term economic stability and retail demand drivers.
- Dollar General’s essential goods model provides resilience during economic downturns.
Executive Summary
This Dollar General property offers a stable, long-term investment opportunity in the Quad Cities region, a growing Midwest market with strong economic fundamentals. The asset is backed by a corporate-guaranteed lease from Dollar General Corporation (NYSE: DG), which operates over 19,000 locations nationwide. The lease is structured as an absolute NNN, providing zero landlord responsibilities and truly passive income.
Positioned near Interstate 280, the property benefits from excellent regional connectivity and proximity to Rock Island, Moline, Davenport, and Bettendorf. These cities drive consistent retail demand and economic activity, supported by major employers such as the Rock Island Arsenal and John Deere. The immediate trade area features an average household income exceeding $90,000 within a one-mile radius, reinforcing strong purchasing power.
With a remaining lease term of five years and two five-year renewal options, this property offers predictable cash flow and annual rent escalations. The asset is priced below replacement cost, providing an attractive entry point in today’s elevated development environment. Dollar General’s recession-resistant business model and essential goods focus ensure consistent performance across economic cycles, making this a compelling addition to any investment portfolio.
Positioned near Interstate 280, the property benefits from excellent regional connectivity and proximity to Rock Island, Moline, Davenport, and Bettendorf. These cities drive consistent retail demand and economic activity, supported by major employers such as the Rock Island Arsenal and John Deere. The immediate trade area features an average household income exceeding $90,000 within a one-mile radius, reinforcing strong purchasing power.
With a remaining lease term of five years and two five-year renewal options, this property offers predictable cash flow and annual rent escalations. The asset is priced below replacement cost, providing an attractive entry point in today’s elevated development environment. Dollar General’s recession-resistant business model and essential goods focus ensure consistent performance across economic cycles, making this a compelling addition to any investment portfolio.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Freestanding
Building Size
9,002 SF
Building Class
C
Year Built
2016
Price
$1,289,795
Price Per SF
$143.28
Cap Rate
7.35%
NOI
$94,800
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
1.23 AC
Zoning
OAK - Commercial
Parking
32 Spaces (3.55 Spaces per 1,000 SF Leased)
Frontage
97’ on Hwy 67
Somewhat walkable
20/100
Exceptionally drivable
90/100
Minimal public transit
10/100
Somewhat bikeable
20/100
Property Taxes
| Parcel Number | 23-02-205-002 | Improvements Assessment | $526,614 |
| Land Assessment | $90,303 | Total Assessment | $616,917 |
Property Taxes
Parcel Number
23-02-205-002
Land Assessment
$90,303
Improvements Assessment
$526,614
Total Assessment
$616,917
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