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2900 River Drive, Moline, I...

Updated Oct 28, 2024

Vast Properties 2900, LLC Acquires Mixed-use Asset In Moline, IL For $7.7M
SOLDMixed-use

Vast Properties 2900, LLC Acquires Mixed-use Asset In Moline, IL For $7.7M

2900 River Drive, Moline, Illinois 61265, United States

$7,700,000

$77/SF

Building Size

100,000 SF

Asset Type

Mixed-use

Closing

Dec 2, 2021

About this deal

AI

Vast Properties 2900, LLC has recently completed the purchase of a mixed-use property located at 2900 River Drive in Moline, IL. The transaction was facilitated by broker Sean Dailey from Claim Realty. This property offers a total area of 70,000 square feet and was sold at a price of $7,700,000, which equates to a price per square foot of $110.

Summary of transaction details

  • Property Type: Mixed-use
  • Transaction Amount: $7,700,000
  • Address: 2900 River Drive, Moline, IL
  • Market: Moline, IL
  • Buyer: Vast Properties 2900, LLC
  • Broker: Sean Dailey - Claim Realty

The sale of this property marks a significant transaction in the Moline market. Vast Properties 2900, LLC recognized the potential of this mixed-use asset and decided to invest in it. With the assistance of Sean Dailey from Claim Realty, the transaction was successfully closed at the asking price of $7,700,000. The property offers ample space, with a total area of 70,000 square feet, providing various possibilities for different uses.

Players

Sean Dailey

HomeSmart

Broker

$56.4M

vol

8 deals

Broker

Moline Mixed-use Market Snapshot

Boundary boundary · Mixed-use · Sale transactions

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Deal FAQ

About $77 per square foot on a published $7.7M for 100,000 square feet (2021).

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.06%

Cash-on-Cash

-0.59%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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