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34391329
34391327

3601 16th Street, Moline, IL 61265

PS
TX 761511
Matthews
JB
TX 688810
Matthews
Listed by Matthews
$3,956,150
0 days on market
Updated 0 days ago

Walgreens

Details
Property Type Retail
Square Footage 15,120
Cap Rate 8.00%
NOI $316,492
Occupancy 100%
Tenancy Single
Brand/Tenant Walgreens, CVS Pharmacy
Lease Type Absolute NNN
Lease Expiration 09/30/2036
Remaining Term 10
Rent Bumps No
Lease Options Eight, 5-Year Options
Price per SqFt $261
Year Built 2002
Acreage 1.660
Tenant Credit Corporate Guarantee
Lease Commencement 01/28/2002
Ground Lease No
Sale Condition 1031 exchange

10-Year Walgreens -- Long-Term NNN Extension -- Moline IL

Investment highlights

• Walgreens has been at this location for over 24 years and recently executed a long-term extension, proving their commitment to the site

• ±10 years remaining on the base term of a NNN lease, with Eight 5-year extension options.

• 5-Mile population of 134,427 residents

• Affluent demographics with an average household income of $90,694 (5-mile radius)

• Located less than 15 minutes from Rock Island Arsenal which is the largest government owned and operated weapons manufacturing arsenal in the United States. Rock Island Arsenal spans over 946 acres and is home to over 6,000 people.

• The site is located less than a mile from SouthPark Mall which is home to national retailers like Dick's Sporting Goods, Ashley Furniture, Dillard's, JCPenney, and many others.

• Walgreens is the nation's second largest pharmacy store chain with over 8,700 locations serving roughly 9 million customers per day. Roughly 78% of Americans live within a 5-mile radius of a Walgreens location.

• Corporately guaranteed lease from Walgreens

• Considered an essential retailer, Walgreens has maintained consistent operations and rent payments, including throughout the COVID-19 pandemic.

Listing Contacts

PS
TX 761511
Matthews
JB
TX 688810
Matthews
Listed by Matthews

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Loan Amount
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Annual Debt Service
$--
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Annual Cash Flow
$316,492.00
$26,374.33/mo

Valuation Metrics

0
DSCR
8%
Cap Rate
8%
ROI

Map

Zoning

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B-3 CommercialNeighborhood CommercialCommunity Business District
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Last updated Mar 6, 2026 For deeper zoning details, reports are available at Zoneomics

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Property History

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Additional Information

Name
Matthew M. Fitzgerald
License
471021676, 478027547 (IL)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
600 W Fulton, Ste 100 Chicago, IL 60661
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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