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Rock Valley Office Park 4703 44th St 43,273 SF 86% Leased Office Building Rock Island, IL 61201 $3,425,340 CAD ($79.16 CAD/SF) 11.84% Cap Rate
Investment Highlights
- Essential Service Tenant Base: The property is 85.6% occupied and anchored by long-standing medical, behavioral health, and government service users.
- Long Operating History and Tenant Stickiness: The tenant roster carries a weighted average operating history of 17+ years.
- Value-Add Through Lease-Up: The remaining 14.45% vacancy offers a straightforward opportunity to increase NOI.
- $362K of Recent Capital Improvements: Ownership completed substantial upgrades in 2024, including new roofs on all four buildings.
- Attractive In-Place Income with Built-In Growth: The asset generates $295,939 in NOI at a 11.84% cap rate.
Executive Summary
Matthew M. Fitzgerald
License # 478027547 (IL)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
License # 478027547 (IL)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
Sale Type
Investment
Property Type
Office
Property Subtype
Building Size
43,273 SF
Building Class
C
Year Built/Renovated
1984/2024
Price
$3,425,340 CAD
Price Per SF
$79.16 CAD
Cap Rate
11.84%
NOI
$405,558 CAD
Percent Leased
86%
Tenancy
Multiple
Building Height
1 Story
Typical Floor Size
43,273 SF
Building FAR
0.23
Lot Size
4.36 AC
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Some public transit
40/100
Fairly bikeable
40/100
Contacts
-
Remi Bogdanovich -
Kyle Mackulak -
Michael Moreno -
Rahul Chhajed -
Matthews Real Estate Investment Services
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Rock Valley Office Park | 4703 44th St
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