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608 35th Ave 8,400 SF Office Building Moline, IL 61265 $300,000 ($35.71/SF) 7.73% Cap Rate
Executive Summary
CASH-FLOWING MULTI-SUITE COMMERCIAL PROPERTY
608 35th Avenue | Moline, IL 61265
8,400 SF | $300,000 | Immediate Income
This Building Pays For Itself — On Day One.
An existing tenant generates $2,070/month, covering 112% of the current mortgage with two years remaining on the lease. You're not buying potential. You're buying a performing asset in one of Moline's most strategic locations — medical/office/retail ready, already occupied, already working.
The Numbers:
$2,070/month existing rental income — 112% mortgage coverage
2-year lease remaining — secured, predictable runway
8,400 SF total — vast majority available to lease at market rate
35 parking spaces
Asking $300,000 (orig $450,000)
Medical/Office/Retail Ready — Bring Your Vision:
This building is zoned, configured, and infrastructure-supported for medical, professional office, or retail use. Multiple private rooms, dedicated corridors, reception area with pass-through window, ADA-compliant restrooms, passenger elevator, and partial 2024 renovation already completed. The bones are exceptional — finish it to your exact specifications at a price that leaves room in the budget to do it right.
Ideal for:
IV therapy, aesthetics, or integrative health practices
Professional office suites
Boutique retail or wellness brands
Multi-tenant investment buildout
The Location:
Adjacent to Wildwood Corporate Park
Borders a high-income residential neighborhood
129,151 population within 5 miles
22,100 vehicles per day on John Deere Road corridor
Under 0.25 miles from major retail — Target, Kohl's, Starbucks and more
5 minutes to two interstates
Near UnityPoint Health and multiple medical offices
Who This Is For:
Investors seeking immediate cash flow with significant lease-up upside
Medical or wellness operators who want a ready-to-configure clinical space without starting from scratch
Owner-operators looking to occupy one suite and lease the other
Buyers who want to finish a partially renovated building their way — at a price that makes it pencil
Asking Price: $300,000
Contact for showing and full financials.
608 35th Avenue | Moline, IL 61265
8,400 SF | $300,000 | Immediate Income
This Building Pays For Itself — On Day One.
An existing tenant generates $2,070/month, covering 112% of the current mortgage with two years remaining on the lease. You're not buying potential. You're buying a performing asset in one of Moline's most strategic locations — medical/office/retail ready, already occupied, already working.
The Numbers:
$2,070/month existing rental income — 112% mortgage coverage
2-year lease remaining — secured, predictable runway
8,400 SF total — vast majority available to lease at market rate
35 parking spaces
Asking $300,000 (orig $450,000)
Medical/Office/Retail Ready — Bring Your Vision:
This building is zoned, configured, and infrastructure-supported for medical, professional office, or retail use. Multiple private rooms, dedicated corridors, reception area with pass-through window, ADA-compliant restrooms, passenger elevator, and partial 2024 renovation already completed. The bones are exceptional — finish it to your exact specifications at a price that leaves room in the budget to do it right.
Ideal for:
IV therapy, aesthetics, or integrative health practices
Professional office suites
Boutique retail or wellness brands
Multi-tenant investment buildout
The Location:
Adjacent to Wildwood Corporate Park
Borders a high-income residential neighborhood
129,151 population within 5 miles
22,100 vehicles per day on John Deere Road corridor
Under 0.25 miles from major retail — Target, Kohl's, Starbucks and more
5 minutes to two interstates
Near UnityPoint Health and multiple medical offices
Who This Is For:
Investors seeking immediate cash flow with significant lease-up upside
Medical or wellness operators who want a ready-to-configure clinical space without starting from scratch
Owner-operators looking to occupy one suite and lease the other
Buyers who want to finish a partially renovated building their way — at a price that makes it pencil
Asking Price: $300,000
Contact for showing and full financials.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$24,828
|
$2.96
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$24,828
|
$2.96
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$15,048
|
$1.79
|
| Net Operating Income |
$9,780
|
$1.16
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $24,828 |
| Annual Per SF | $2.96 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $24,828 |
| Annual Per SF | $2.96 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $15,048 |
| Annual Per SF | $1.79 |
| Net Operating Income | |
|---|---|
| Annual | $9,780 |
| Annual Per SF | $1.16 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Property Subtype
Building Size
8,400 SF
Building Class
C
Year Built
1985
Price
$300,000
Price Per SF
$35.71
Cap Rate
7.73%
NOI
$23,190
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
4,200 SF
Building FAR
0.46
Lot Size
0.42 AC
Zoning
C - Commercial
Parking
20 Spaces (2.38 Spaces per 1,000 SF Leased)
Amenities
- 24 Hour Access
- Bio-Tech/ Lab Space
- Property Manager on Site
- Security System
- Skylights
- Wheelchair Accessible
- Storage Space
- Air Conditioning
- Fiber Optic Internet
- Smoke Detector
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
- Prompt Care
- Health Care and Social Assistance
- 800 SF
- $2.58
- Industrial Gross
- Apr 2028
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
| Prompt Care | Health Care and Social Assistance | 800 SF | $2.58 | Industrial Gross | Apr 2028 |
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Property Taxes
| Parcel Number | 17-07-418-006 | Improvements Assessment | $51,199 (2024) |
| Land Assessment | $21,193 (2024) | Total Assessment | $72,392 (2024) |
Property Taxes
Parcel Number
17-07-418-006
Land Assessment
$21,193 (2024)
Improvements Assessment
$51,199 (2024)
Total Assessment
$72,392 (2024)
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608 35th Ave
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