Retail and Warehouse
1856 E Broadway Alton, IL 62002
For Sale
$550,000
COMMERCIAL - Alton, IL
Property Size7,126 SF
Lot Size1.00 Acre
Price / SF$77.18
Days on Market160
Property Features for 1856 E Broadway
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Security features
- Security System
- Standard status
- Active
- APN
- 23-1-08-18-09-201-001
- Size
- 7,126 SF
- Lot size
- 1.00 Acre
Taxes and HOA fees
- Tax Year
- 2025
- Tax Description
- ATOL IN W PT NW 1/4SEC 18-5-9 TX LT 612
- Tax Annual Amount
- 3463
Utilities
- Utilities
- Cable Available
- Sewer type
- Public Sewer
- Heating system
- Forced Air, Natural Gas, Electric (Heating)
- Cooling system
- Electric, Central Air
- Water source
- Public
Building Details
- Year built
- 1977
- Floors in Building
- 1
- Building materials
- Brick, Concrete, Block
- Roof type
- Shingle, Asphalt
Listing Agency:
Coldwell Banker Brown Realtors
(618) 465-2966
Listed By:
Rick Lauschke · License #471000992
(618) 692-7290
Added: Feb 16
Changed: Jul 21
Last Checked: Jul 26 at 7:06AM
MLS# 24063235
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This sale includes a commercial property with retail space, warehouse space, and two-car garage, along with the land. The retail portion features one storefront that is currently operating as a restaurant and shares a common storage area. The warehouse is occupied by a long-time tenant on a month-to-month basis.
The property is located at 1856 E Broadway in Alton, IL, with the commercial buildings and land included in the sale. Furniture and fixtures are not included in the sale.
The current setup provides an owner with both retail storefront space and warehouse space under separate arrangements, with potential additional income referenced for the storefronts.
The property is located at 1856 E Broadway in Alton, IL, with the commercial buildings and land included in the sale. Furniture and fixtures are not included in the sale.
The current setup provides an owner with both retail storefront space and warehouse space under separate arrangements, with potential additional income referenced for the storefronts.
Key Highlights
- Commercial retail space plus warehouse with a two‑car garage included
- Brick, concrete, and block construction; roof includes shingle/asphalt
- Heating includes natural gas forced air and electric (heating); cooling includes central air and electric
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.2k | $6.06 |
| − Vacancy | −$1.1k | −$0.16 |
| EGI | $42.1k | $5.90 |
| − OpEx | −$6.3k | −$0.89 |
| NOI | $35.8k | $5.02 |
7,126 SF · lease $6.06/SF/yr · vacancy 2.60% · expense 15.00%
Alternative Uses
Best Use
Retail
$1.25M
$1.09M – $1.46M
NOI $87,453 @ 7.0% cap · market cap 15.90%
Second Best
Warehouse
$510.7K
$446.9K – $595.9K
NOI $35,752 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$1.94M
$1.70M – $2.27M
NOI $135,964 @ 7.0% cap · market cap 24.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Jimmy the Greeks
Restaurant
FAQs
What type of property is this?
Storefront property - Mixed-use property includes retail storefront, warehouse space, and two-car garage on included land.
Where is this storefront property located?
The property is located at 1856 E Broadway Alton, IL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Commercial retail space plus warehouse with a two‑car garage included; Brick, concrete, and block construction; roof includes shingle/asphalt; Heating includes natural gas forced air and electric (heating); cooling includes central air and electric
