621 E Le Claire Rd Eldridge, IA 52748
Ownership Progress
1.3% SoldAbout This Investment
About the Property
Property originally listed for sale on the marketplace by HH Eldridge LLC.
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Strip Mall with McDonalds & Dominos Pizza in Quad Cities, Iowa
Located in the Quad Cities Metro area, this is a 4-unit retail building built in 2010. The tenants include McDonalds, Domino's, US Cellular, and a vacant unit. All tenants are on multi-year triple-net leases (NNN). This means that the tenants pay all the expenses of the property including real estate taxes, building insurance, and maintenance.
- McDonalds has been a tenant since 2010 and extended its lease to 2026
- Dominos recently moved in and invested $250K in renovations. Their 10-yr lease expires in 2031
- US Cellular has been a tenant since 2012 and extended its lease to 2024
Near new Amazon project
Amazon is building a 2.9M square foot robotics fulfillment center just a 12 minute drive from this strip mall. The warehouse is expected to open summer of 2024 and create a minimum annual economic impact of $148M to the region.
Big Anchor Tenants
3 of the 4 current tenants are big-name brands who have recently moved in or renewed their leases at higher rental rates. Other recognizable businesses nearby include Subway, Dollar General and Snap Fitness.
1 min from major highway
Located on an entrance/exit of a major U.S highway, it takes drivers just 1 minute to reach the mall. Route 61 passes through 3 US states (New Orleans, Iowa and Mississippi).
Refer to the 'Documents' tab above to view the following information:
- Rent Roll & Lease Terms
- Inspection Report
- Purchase Contract
- Operating Expenses
- Comparable Properties
- Building Improvements
- Pest Report