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305-315 W 10th Ave
Milan, IL 61264

$1,463,624 USD

General Retail For Sale • 23,500 SF

Property Details

Property Type General Retail
Total Building Size 23,500 SF
Lot Size 2.35 AC
Building Class C
Year Built 1977
Cap Rate 8.50 %
Tenancy Multiple
Zoning C-2

0 Transit Score

61 Walk Score

                
                    Highlights
                
                                NEW 5-YEAR LEASES - New committed 5-year leases from Cactus Mexican Restaurant, Milan Liquor and Milan Laundromat.
                            
                                EXCELLENTLY MAINTAINED - Most tenants have brand new LED lights, ceilings, electrical and HVAC units.
                            
                                HIGH TRAFFIC COUNTS - The immediate area sees close to 23,000 vehicles per day from 10th Ave W (6,700), 4th St W (6,300) and 1st St W (9,800).
                            
                                MAJOR RETAILERS NEARBY - This site is located directly next to KFC and AutoZone and across the street from Hy-Vee and CVS.
                            
                                STRONG DEMOGRAPHICS - Solid population counts of 2,574 within 1 mile, 20,174 within 3 miles, 69,307 within 5 miles and 253,419 within 10 miles.
                            
                                LARGE EMPLOYERS CLOSEBY - XPAC, a large internet company with 3,000 employees and an annual revenue of $420.0M is up the street.

Property Flyers

OM - Gaslite Square Plaza - Milan, IL

Financial Summary (Actual)

Net Operating Income: $124,409 USD (2023)

Cap Rate:	8.50 %
Total Expenses:	$39,359 USD

Public Transportation

Airport	Drive	Walk	Distance
Quad Cities International	12 min	-	5.7 mi

Parking Details

Parking Available:	Yes
Reserved:	No
Spaces Provided:	160
Type:	Surface
Included in Rent:	Yes

Michael Matusik 714-874-4004 Prime Net Lease

305-315 W 10th Ave Milan, IL 61264