Available For Sale - Retail

10,790 SF | Show Pricing $

LISTED BY

Filip Hernas
Prime Net Lease, 714-849-5997

AVAILABILITY DETAILS

Size
10,790 SF
Price/SF
Show Pricing $
Listing ID
SA552597
Notes
Prime Net Lease is pleased to present the exciting opportunity to acquire a 10,790 SF 6 unit multi-tenant retail center, known as the Gaslite Square Plaza, located in Milan, IL. The tenant mix consists of retail-oriented tenants that conveniently serve customers in the nearby community and surrounding areas. Most of the tenants have been long term, reliable and who have continuously maintained their leases throughout the years, showing their strong commitment to the area and site itself. The plaza is located on one of Milan's busiest intersections with nearly 17,000 vehicles per day. This has attracted the plaza's newest tenant, Kathy Sue's, who spent nearly $100,000 on recent renovations. The site shares a parking lot with Dollar General, while directly next door are both KFC and AutoZone and across the street are Hy-Vee and CVS. Local and major national tenants closeby include Pizza Hut, McDonald's, Hardee's, Jimmy John's, Fazoli's, Target, Ross, Hobby Lobby, Dollar General, Walgreens and many others.



The site has quick access to US Hwy 92, I-280, I-74 & The Quad City Airport. Milan is home to the John Deere North American Parts Distribution Center, one of the largest warehouses in the world. In June of 2022, only six miles away in Davenport, Iowa, Fair Oaks Foods announced plans to construct a state-of-the-art food production facility. The $134 million investment includes a 150,000 square-foot facility in the Eastern Iowa Industrial Center and will create an estimated 247 new full-time jobs. The company plans to start operations in early 2024. Construction is anticipated to begin this summer on a 32-acre site near Interstate 80. This development is expected to have an annual economic impact of $182 million, making it the largest business attraction project in the region’s history.



Milan is a village in Rock Island County, Illinois. The village is located near the Quad Cities of Illinois and Iowa. The area consists of the cities of Davenport and Bettendorf in Iowa and Rock Island, Moline, and East Moline in Illinois, and their suburbs in northwest Illinois and southeast Iowa. The Quad Cities is located at the confluence of the Rock and Mississippi rivers, approximately 140 miles (230 km) west of Chicago, and forms the largest metropolitan area along the Mississippi River between Minneapolis–Saint Paul and the St. Louis metropolitan area. The Quad Cities Metropolitan Area consists of three counties: Scott County in Iowa, and Rock Island County and Henry County in Illinois. The Quad City metro population is 382,268. The Quad Cities Metropolitan Area is also considered part of the Great Lakes Megalopolis.
Uses
Retail

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Filip Hernas, Prime Net Lease