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415 31st Ave 20,800 SF Industrial Building Rock Island, IL 61201 $1,449,371 CAD ($69.68 CAD/SF) 7.25% Cap Rate
Investment 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
- Leased to Simmers Crane Design & Services, a Flatiron Crane Company
- Lease expiration October 31, 2028, with one 5-year renewal option
- 7.25% cap rate based on scheduled November 1, 2026 NOI
- 20,800 SF crane-served manufacturing facility with existing bridge crane infrastructure throughout the primary manufacturing area
- More than $170,000 invested in capital improvements
Executive Summary
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.
Property Facts
| Price | $1,449,371 CAD | Lot Size | 1.50 AC |
| Price Per SF | $69.68 CAD | Rentable Building Area | 20,800 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 7.25% | Year Built | 1967 |
| Property Type | Industrial | Tenancy | Single |
| Property Subtype | Warehouse | No. Dock-High Doors/Loading | 2 |
| Building Class | C | No. Drive In / Grade-Level Doors | 3 |
| Zoning | I1-Light Industrial | ||
| Price | $1,449,371 CAD |
| Price Per SF | $69.68 CAD |
| Sale Type | Investment |
| Cap Rate | 7.25% |
| Property Type | Industrial |
| Property Subtype | Warehouse |
| Building Class | C |
| Lot Size | 1.50 AC |
| Rentable Building Area | 20,800 SF |
| No. Stories | 1 |
| Year Built | 1967 |
| Tenancy | Single |
| No. Dock-High Doors/Loading | 2 |
| No. Drive In / Grade-Level Doors | 3 |
| Zoning | I1-Light Industrial |
Somewhat walkable
30/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 16-10-218-001 | Improvements Assessment | $321,611 CAD |
| Land Assessment | $34,940 CAD | Total Assessment | $356,551 CAD |
Property Taxes
Parcel Number
16-10-218-001
Land Assessment
$34,940 CAD
Improvements Assessment
$321,611 CAD
Total Assessment
$356,551 CAD
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415 31st Ave
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