415 31st Ave - Warehouse FOR SALE


Rock Island, IL 61201- West Central Rock Island
$1,034,482 USD
612-718-2234
415 31st Ave, Rock Island, IL for Sale
$1,034,482 USD
Warehouse - FOR SALE
1/8
null | 7.25% Cap Rate

415 31st Ave
Rock Island, IL 61201
West Central Rock Island


HIGHLIGHTS

  • Approximately 40% below market rents, with in-place NOI equating to approximately $3.60/SF Net vs an estimated market rental rate of $5.50-6+/SF NNN
  • 7.25% cap rate based on scheduled November 1, 2026 NOI
  • Leased to Simmers Crane Design & Services, a Flatiron Crane Company
  • 20,800 SF crane-served manufacturing facility with existing bridge crane infrastructure throughout the primary manufacturing area
  • Lease expiration October 31, 2028, with one 5-year renewal option
  • More than $170,000 invested in capital improvements

OVERVIEW

Colliers is pleased to exclusively represent the opportunity to acquire a single tenant industrial investment located at 415 31st Avenue in Rock Island, Illinois. The 20,800 SF crane-served manufacturing facility is leased to Simmers Crane Design & Services, a Flatiron Crane Company, through October 2028 and features a scheduled 4% contractual rent increase effective November 1, 2026. With current in-place net rents estimated to be approximately 40% below today’s market, the offering provides investors with immediate cash flow and compelling mark-to-market upside. Significant recent capital improvements including a new roof, parking lot improvements, HVAC and dock repairs, provide investors with stable in-place cash flow and minimal anticipated near-term capital expenditures.

FOR SALE DETAILS

PRICE

$1,034,482 USD

PRICE/SF

$50 USD /SF

CAP RATE

7.25%

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1967

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

2

DRIVE INS

3

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.5

LAND SF

65,340

ZONING

I1-Light Industrial

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Justin FelixCBRE, Inc.More Info
612-718-2234

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Justin FelixCBRE, Inc.More Info
612-718-2234

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