Listed by Matthews
$2,152,000
1704 W 2nd St, Davenport, IA 52802 & 6200 W Plank Rd, Peoria, IL 61604
Details
Property Type Industrial
Sub Type Flex
Square Footage 22,300
Cap Rate 6.75%
NOI $145,200
Occupancy 100%
Tenancy Single
Lease Type Absolute NNN
Lease Term 5
Lease Expiration 08/30/2030
Remaining Term 5
Rent Bumps Yes
Lease Options 5 (5) year
Price per SqFt $97
Acreage 2.200
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 01/30/2025
Occupancy Date 01/30/1996
Ground Lease No
Industrial | 6.75% CAP | 22,300 SqFt
Marketing description
For Sale
Investment highlights
- 1704 W 2nd St, Davenport, IA 52802
- Attractive Price Point – Offered at $845,000, the property provides investors an opportunity to acquire a national credit tenant at an attractive, accessible basis. The offering is particularly well-suited for private investors and 1031 exchange buyers seeking a stable, long-term investment.
- Long-Term Tenant Commitment – Brink’s Inc. has operated at this location since 1996, reflecting nearly three decades of consistent performance. The tenant recently executed a new 5-year lease extension, ensuring income stability and reaffirming their commitment to the site.
- Absolute Net Lease – Passive Ownership – The lease is structured on an absolute net basis, with Brink’s responsible for all real estate expenses, including property taxes, insurance, and maintenance. This structure provides investors with predictable income and a fully passive ownership profile with no management obligations.
- Strategic Location – Situated along the Mississippi River, Davenport benefits from strong transportation infrastructure, including proximity to major highways and the Quad City
- International Airport, facilitating efficient logistics and distribution.
- Ongoing Developments – The city is investing in infrastructure and community projects, such as the $5 million repaving of 4th Street to convert one-way traffic to two-way, aiming to improve downtown accessibility.
- Industrial Sector Strength – The Quad Cities industrial market remains robust, with low vacancy rates and continued demand for warehouse and distribution spaces, supported by national and regional logistics companies.
- 6200 W PLANK RD, PEORIA, IL 61604
- Attractive Price Point – $1,307,000, the property provides investors an opportunity to acquire a national credit tenant at an attractive, accessible basis. The offering is particularly well-suited for private investors and 1031 exchange buyers seeking a stable, long-term investment.
- Long-Term Tenant Commitment – Brink’s Inc. has operated at this location since 1996, reflecting nearly three decades of consistent performance. The tenant recently executed a new
- 5-year lease extension, ensuring income stability and reaffirming their commitment to the site.
- Absolute Net Lease – Passive Ownership – The lease is structured on an absolute net basis, with Brink’s responsible for all real estate expenses, including property taxes, insurance reimbursement, and maintenance. This structure provides investors with predictable income and a fully passive ownership profile with no management obligations.
- Capital Improvements – New Roof & Perimeter Fence – The property is undergoing significant upgrades, including the installation of a new roof and perimeter security fence.
- These improvements mitigate long-term capital expenditure risk and enhance asset durability.
- National Credit Tenant – Brink’s Inc. – Brink’s Inc. (NYSE: BCO) is a global leader in secure logistics, cash management, and security services, operating in more than 100 countries. The company maintains a “BB+” credit rating from S&P, underscoring its financial strength and reliability as a tenant.
Listing Contacts
Listed by Matthews
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$145,200.00
$12,100.00/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Name
License
Brokerage
Brokerage Phone
Title
Brokerage Address
Is there information that looks off?
