Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    301 S 7TH Street Quincy, IL 62301

    View on Map
    For Sale
    $1,399,999

    COMMERCIAL - Quincy, IL

    Property size:
    42,000 SF
    Lot size:
    0.72 Acres
    Added:
    Apr 14, 2025
    Days on Market:
    354
    Last Refresh:
    Apr 2 at 6:06 am

    Property Features for 301 S 7TH Street

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    D2
    Standard status
    Active
    APN
    231069300000
    Size
    42,000 SF
    Lot size
    0.72 Acres

    Taxes and HOA fees

    TaxYear
    2023
    TaxAnnualAmount
    8976

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Natural Gas, Forced Air
    Cooling system
    Central Air

    Building Details

    Floors in Building
    3
    Number of units
    6
    Flooring type
    Carpet, Concrete
    Building materials
    Brick
    Roof type
    Metal, Asphalt

    We can help!

    Listing Contact
    Janet Arns
    Janet Arns

    Listing agent Janet Arns License #475130570

    Listing office Happel, Inc., REALTORS 4439 Broadway, Quincy, IL

    Listing date Apr 14, 2025

    MLS# CA1035712

    Copyright © 2026 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Versatile Mixed-Use Commercial Property

    This commercial property in Quincy, Illinois, offers a versatile space of over 42,000 square feet. It includes 40,000 square feet of warehouse space suitable for storage, manufacturing, or distribution, and features an external dock. Additionally, there are 2,000 square feet of office and retail space. The property also includes six furnished apartments, each with laundry facilities, currently generating $56,700 in annual rental income. Furthermore, there are three additional apartments ready to be finished, with potential incentives available to complete them. The property is located on a 0.7231-acre lot and is zoned D2.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Daycare Center Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Quincy
    County
    Adams
    State
    Illinois
    Longitude
    -91.404527
    Latitude
    39.9291633

    Nearby Similar for Sale

    • $249,000

      Quincy Commercial Building For Sale

      1,788 SF commercial building in Quincy, Illinois.
      5200 COLUMBUS Road, Quincy, IL 62305
      View Details
    • $22,500

      Quincy Duplex Investment Opportunity

      Up/down duplex with renovation potential for rental income.
      720 N 5TH Street, Quincy, IL 62301
      View Details
    • $975,000

      Industrial Warehouse with Office Space

      Two-story industrial warehouse with office space in Quincy, Illinois.
      600 YORK Street, Quincy, IL 62301
      View Details
    • $549,000
      21,267 SF

      Prime Redevelopment Opportunity in Quincy

      20,000 sq ft commercial property in a growing district.
      223 Hampshire, Quincy, IL 62301
      View Details
    • $400,000

      Quincy Industrial Facility with Fenced Lot

      21,386 SF industrial facility with fenced gravel lot.
      600 STATE Street, Quincy, IL 62301
      View Details
    • $159,900

      South Quincy Brick Duplex

      Two-unit property with recent updates and long-term tenants.
      1038 S 12TH Street, Quincy, IL 62301
      View Details
    • $189,000

      Quincy Multifamily Investment Opportunity

      Multifamily property in Quincy, Illinois with income potential.
      400 S 16TH Street, Quincy, IL 62301
      View Details
    • $110,000

      Quincy Duplex Investment Opportunity

      Up-and-down duplex in Quincy, Illinois, with income potential.
      1330 SPRING Street, Quincy, IL 62301
      View Details
    • $5,000

      Quincy Duplex Fixer-Upper Opportunity

      Two-unit property in Quincy, Illinois, priced at $5,000.
      300 LOCUST Street, Quincy, IL 62301
      View Details
    • $70,000

      Adaptable Commercial Property in Quincy

      Versatile commercial property with potential for various business ventures.
      1130 S 6TH Street, Quincy, IL 62301
      View Details
    • $125,000

      Income-Generating Two-Unit Apartment Building

      Two-unit apartment building with recent remodel and income potential.
      1011 OHIO Street, Quincy, IL 62301
      View Details
    • $1,600,000

      Spacious Multifamily Property in Quincy

      Sixteen-unit multifamily property with ample parking in Quincy, Illinois.
      4609 STATE Street, Quincy, IL 62301
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Multi-use property with warehouse, office, retail, and apartments.
    Where is this mixed-use property located?
    The property is located at 301 S 7TH Street Quincy, IL.
    What is the asking price?
    The asking price for this property is $1,399,999.
    What are key features of this property?
    This property features: Multi‑use commercial property with over 42,000 sq ft of versatile space.; 40,000 sq ft of warehouse space suitable for storage, manufacturing, or distribution with an external dock.; Six furnished apartments generating $56,700 in annual rental income.
    (217) 617-0751
    We can help!
    Listing Contact
    Janet Arns
    Janet Arns
    Real Estate License ID: 475130570
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!