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4703-4711 44th Street, Rock Island, IL, 61201

Rock Valley Office Park
$2,900,000

Key Information

Cap Rate
10.2%
$ per SF
$67
Lot Size
4.36 Acres
Year Built
1984-1986
Type
Office
Occupancy
85.6%
NOI
$295,939
Leasable Area
43,273

Highlights

  • Essential Service Tenant Base: The property is 85.6% occupied and anchored by long-standing medical, behavioral health, and government service users, providing durable and recession-resilient income.
  • $362K of Recent Capital Improvements: Ownership completed substantial upgrades in 2024, including new roofs on all four buildings, and parking lot repairs, sealing, and restriping. These improvements enhance long-term durability and reduce near-term capital expenditure risk for investors.
  • Diverse Mix of Services: The tenant roster includes counseling practices, therapy groups, legal and social service organizations, and state agencies, which reduces rollover risk and aligns with long-term demand for outpatient services.
  • Attractive In Place Income with Built-In Growth: The asset generates $295,944 NOI at a 10.20% cap rate and benefits from annual rent increases and automatic renewal options that support predictable and growing cash flow.
  • Proximity to Major Healthcare and Employment Drivers: The site benefits from immediate access to major Quad Cities demand generators, including nearby hospitals, major employers, and regional workforce hubs

Photos

Location

Agents

Broker of Record

Matthew M. Fitzgerald

License # 478027547 (IL)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203