This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
2955 18th Ave
Rock Island, IL 61201
Walgreens · Retail Property For Sale
PROPERTY FACTS
ABOUT 2955 18TH AVE , ROCK ISLAND, IL 61201
Michael Kaider with CBRE has exclusively listed this single tenant net leased Walgreens located in Rock Island, Illinois. The current lease term expires on March 31, 2033 giving an investor 16 YEARS, 9 MONTHS OF PRIMARY TERM REMAINING. Walgreens has been at this location since 1997 and recently extended their lease an additional 15 years in return for a small rent reduction. THE RENT IS CURRENTLY $316,900 AND REDUCES TO $263,400 ON AUGUST 1, 2017. THE CAP RATE ON IN PLACE NOI IS 7.4% BUT REDUCES TO 6.1%. This store has very strong sales numbers. This signalized hard corner location sits in the heart of downtown Rock Island, Illinois. The City of Rock Island is a full-service community located on the Mississippi River, approximately 175 miles west of Chicago. Rock Island is a major city in what is known as the Quad Cities, a region with a population approaching 400,000 that encompasses Rock Island, Moline, East Moline and Davenport, Iowa.
PROPERTY TAXES
| Parcel Number | 16-01-152-001 | Improvements Assessment | $366,630 |
| Land Assessment | $100,638 | Total Assessment | $467,268 |
PROPERTY TAXES
