621 E Le Claire Rd, Eldridge IA
Eldridge, IA, USA$United States Of America
Triple‑net Retail
4Units
7,760sqft
1.15acres
8.6%
Projected Return
6%
Cash-on-Cash Yield
What is this Property?
This listing represents a 4‑unit retail strip center of approx. 7,760 sq ft built in 2010 on a 1.15 acre lot at 621 E Le Claire Rd, Eldridge, IA. The tenants include McDonald’s, Domino’s, US Cellular, and a real estate office—each operating under multi‑year triple‑net (NNN) leases, meaning tenants cover property tax, insurance and maintenance. The offering targets a projected return of 8.6%, with about 6% cash‑on‑cash yield under Lofty’s pricing model.
Why Invest?
- Diversified income from well‑known national tenants
- All NNN leases reduce landlord responsibilities
- Stable rental income with minimal vacancy risk
- Attractive projected return for a commercial asset
Property History & Valuation
Built in 2010, the asset was previously appraised around US $1.58 M, with tax history showing property taxes around $36,588/year in 2024. Zillow and Trulia estimates vary between US $1.4 M and $2.49 M based on different methodologies.
Local Market & Community
Located in the Quad Cities metro (Iowa–Illinois border region), Eldridge is part of the Davenport‑Moline‑Rock Island market with solid demographic statistics: within a 3‑mile radius there are ~7,800 residents and median household income over US $83K. Population growth is modest at 1–1.3% annually. The town receives high resident ratings for safety, schools (GreatSchools ratings around 5–6/10), and family‑oriented living. Walkability, community spirit, and access to retail amenities are regularly praised by locals.
Risks & Considerations
- Still in funding phase—income and closings are dependent on full funding.
- Some investor feedback suggests possible overvaluation versus comps.
- Limited liquidity until secondary trading fully opens.
Summary
This is a well‑located, multi‑tenant NNN retail asset offering stable income from major brands and solid projected returns. For investors seeking exposure to commercial real estate without direct management, it offers diversification and triple‑net structure—though patience around funding and liquidity timelines is advised.
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