3813 18th Ave - Freestanding FOR SALE


Rock Island, IL 61201- Hilltop
$1,451,000 USD
312-433-9924
3813 18th Ave, Rock Island, IL for Sale
$1,451,000 USD
Freestanding - FOR SALE
1/3
null | 7.15% Cap Rate

3813 18th Ave
Rock Island, IL 61201
Hilltop


HIGHLIGHTS

  • Over 10 Years of Firm Term Remaining Plus Three (3) 5-Year Renewal Options
  • 18.00 Percent Rent Increase in Renewal Option 1 | 7.00 Percent in Renewal Option 2 | 6.00 Percent in Renewal Option 3
  • NN Lease With Limited LL Responsibilities (Structural: Slab and Foundation) | No ROFR/ROFO
  • Corporately Operated by Advance Stores Company, Inc.
  • Quad Cities Location (Rock Island, IL): Bi-State Metro With Diversified Demand Drivers
  • (Rock Island Arsenal, Healthcare, Education) and Access to Interstates 74, 80, 88 and 280

OVERVIEW

Marcus & Millichap is pleased to present the fee simple interest in a 7,000-square-foot Advance Auto Parts located at 3813 18th Ave. in Rock Island, IL. The property is leased on a double-net (NN) basis to Advance Stores Company, Inc., with approximately ten years of firm term remaining, expiring December 31, 2035. The lease features three five-year renewal options with fixed rent increases of 18.00 percent, 7.00 percent and 6.00 percent, respectively, providing durable income and option-period growth. Landlord obligations are limited to structural elements (slab and foundation). There is no ROFR/ROFO, preserving flexibility for future dispositions or recapitalizations. Situated within the Quad Cities — a regional hub anchored by manufacturing, healthcare, education, logistics and the Rock Island Arsenal — the location benefits from stable, year-round demand for auto parts and service-oriented retail. The 2006 construction on 0.84 acres and a rent level of $14.82 per square foot support long-term tenancy fundamentals.

FOR SALE DETAILS

PRICE

$1,451,000 USD

PRICE/SF

$216 USD /SF

CAP RATE

7.15%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Advance Auto Parts Rock Island

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Freestanding

ADD'L SUBTYPES

Auto Repair, Storefront

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2007

SPRINKLERS

-

PARKING SPACES

46

LAND DETAILS

LAND ACRES

0.84 AC

LAND SF

36,590 SF

ZONING

RI

APN/PARCEL ID

17-06-134-010

ASK ABOUT THIS PROPERTY

Jack SkidmoreMarcus & MillichapMore Info
312-433-9924

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Jack SkidmoreMarcus & MillichapMore Info
312-433-9924

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.