Listed by Matthews
$845,000
1704 W 2nd St
Details
Property Type Industrial
Sub Type Flex
Square Footage 9,180
Cap Rate 6.75%
NOI $57,000
Occupancy 100%
Tenancy Single
Lease Type NNN
Lease Term 5
Lease Expiration 08/30/2030
Remaining Term 4.3
Lease Options Five, 5-Year Options
Price per SqFt $92
Acreage 2.200
Investment Type Net Lease
Tenant Credit Corporate Guarantee
Lease Commencement 01/31/2025
Ground Lease No
Ownership Free simple
Industrial | 6.75% CAP | 9,180 SqFt
Marketing description
*******Also available with 6200 W Plank Rd, Bellevue, Peoria County, IL 61604 | $1,307,000 | Industrial | 6.75% CAP | 12,400 SqFt | 6200 W Plank Rd
Davenport, Lowa, anchors the Quad Cities region and serves as a key economic and residential center along the Mississippi River. As one of Lowa's largest cities, it combines small-city charm with essential urban conveniences, offering a high quality of life at a lower cost compared to larger metro areas. Its strategic location provides excellent access to major transportation routes, including Interstate 80 and nearby regional airports, making it a convenient home base for residents and businesses alike. The city's steady population trends and relatively low cost of living continue to attract a diverse and growing tenant base.
The local economy is driven by a balanced mix of manufacturing, healthcare, education, logistics, and government services. These industries provide solid employment opportunities and help support stable median household incomes, fostering long-term rental demand. Davenport's neighborhoods are well-developed with strong Industrial corridors, educational institutions, and cultural amenities, while also offering access to parks, recreational spaces, and a revitalized riverfront. With its combination of economic resilience, accessibility, and livability, Davenport presents a compelling environment for multifamily investment and long-term value growth.
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, ong-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, Bellevue, 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.
- Accessible Price Point – $1,307,000 - Offered at $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.
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$57,000.00
$4,750.00/mo
Valuation Metrics
0
DSCR
6.75%
Cap Rate
6.75%
ROI
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