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
Moline Mixed-use Market Snapshot
Boundary boundary · Mixed-use · Sale transactions
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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