Vacant Industrial | Low Price Per Square Foot
- Address:
- 8024 14th Street West, Rock Island, IL 61201
- Property Type:
- Vacant
- Price:
- $1,000,000
- Cap Rate:
- 10.72% pro forma cap
- Square Feet:
- +/- 28,800 sqft
- Lot Size:
- 2.96 Acres
- Price Per Square Foot:
- $34.72
- Year Built:
- Approx. 1970
-
Marketing Package*
Investment Highlights
Investment Highlights
- Vacant +/- 28,800 Square-Foot Industrial Property Situated on 2.96 Acres
- Featuring Metal Frame Construction, 16’ Clear Height, Two Grade-Level Doors, and Interior Automotive Parking Bay
- Zoned I-2 | Additional Outdoor Storage Space with North and South Gate Access to Property
- Available Value-Add Investment Opportunity or Immediate Occupancy for Owner Use | Low Price/SF
- Located in Desirable Outlying Rock Island County with Q3 3.8% Vacancy Rate (Costar)
- Situated in Close Proximity to I-280, 5.4 Miles West of Quad Cities International Airport
Investment Overview
Marcus & Millichap is pleased to present the opportunity to acquire the property located at 8024 14th Street West in Rock Island, Illinois. The subject property consists of approximately 28,800 square feet of industrial space situated on 2.96 acres. This vacant industrial property features metal frame construction, 16’ clear height, two grade-level doors, and an interior automotive parking bay, offering a unique opportunity for an investor or owner-user. The property is situated in close proximity to Interstate 280 and is approximately 5.4 miles west of Quad Cities International Airport, providing convenient access to major transportation routes.
The property presents a value-add investment opportunity or the potential for immediate occupancy for owner use, with a low price per square foot. The submarket, Outlying Rock Island County, boasts a Q3 vacancy rate of 3.8 percent, according to CoStar, indicating a relatively stable market. The property’s zoning, I-2, allows for additional outdoor storage space, and the property features north and south gate access, providing flexibility for various uses. This opportunity is ideal for investors seeking a vacant industrial property with potential for renovation or redevelopment.
The Quad Cities metropolitan area, where the property is situated, is a growing market with a population of over 380,000 people, spanning across multiple counties in Illinois and Iowa. The market encompasses a significant geographic area, with a diverse range of industries, including manufacturing, healthcare, and education. The region has experienced positive job growth, driven by major industries such as John Deere and the healthcare sector. The Quad Cities area is well-connected, with several major highways, including Interstates 80 and 88, and the Quad Cities International Airport, providing convenient access to national and international markets. Major industries, such as manufacturing and logistics, are well-represented in the market, with several corporate headquarters and key economic anchors, including the Rock Island Arsenal. The competitive landscape of the market is characterized by a relatively stable supply and demand balance, with opportunities for growth and development in the industrial and logistics sectors. Overall, the Quad Cities market is poised for continued growth and development, driven by its strategic location, diverse economy, and access to major transportation infrastructure.