Mixed-Use Building with
1224 BROADWAY Street, Quincy, IL 62301
For Sale
$355,000
Residential Income, Quincy, IL
Property Size2,400 SF
Lot Size0.21 Acres
Price / SF$147.92
Days on Market135
Property Features for 1224 BROADWAY Street
General Information
Property type
Property subtype
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking
Parking features
Security features
Interior features
Basement
Lot features
High school
Directions
Standard status
APN
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Heating system
Cooling system
Water source
Amenities
laundry space
deck
off-street parking
central air conditioning
Building Details
Year built
Number of units
Building materials
Roof type
Buildings
Listing Agency:
eXp Realty
(888) 574-9405
Listed By:
Bryan Johnson
(614) 288-3239
Added: Jun 30
Changed: Oct 28
Last Checked: Nov 11 at 8:06PM
MLS# CA1046914
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.
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Investment Insights
Based on property information with market context.
This 2,400-square-foot brick property spans two floors of 1,200 square feet each, with commercial space below and two one-bedroom, one-bath apartments above. The ground floor has a reception area, bathroom, and seven private rooms, along with two entrances and partition walls. Upstairs, both apartments were renovated in 2024 with updated appliances, plumbing, electrical systems, and finishes. Residents share laundry space and have access to a deck and staircase. Mechanical systems include three newer gas furnaces, three newer water heaters, one central AC unit serving the commercial floor, and two central AC units for the apartments. A new asphalt-shingle roof, gutters, and soffits were installed in 2025.
The property occupies two parcels totaling 0.21 acres along a corridor with traffic counts above 20,000 vehicles per day. The Blessing and QMG medical complexes are nearby, and the additional parcel provides off-street parking. Long-term apartment tenants are in place.
The property occupies two parcels totaling 0.21 acres along a corridor with traffic counts above 20,000 vehicles per day. The Blessing and QMG medical complexes are nearby, and the additional parcel provides off-street parking. Long-term apartment tenants are in place.
Key Highlights
- Two 1‑bedroom, 1‑bath apartments renovated in 2024
- 2,400 square feet total, with 1,200 square feet on each floor
- Ground‑floor commercial area includes a reception area, bathroom, and seven private rooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$13,464
Cap Rate
3.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$269,280
$269.3K
Cap Rate 7%
$192,343
$192.3K
Cap Rate 9%
$149,600
$149.6K
Market Conditions
NOI Build-Up for 2,400 SF
Gross rent
$24.5K $10.20/SF
− Vacancy
−$2.9K −$1.22/SF
EGI
$21.5K $8.98/SF
− OpEx
−$8.1K −$3.37/SF
NOI
$13.5K $5.61/SF
Area
Adams County, IL
Vacancy
12.00%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
37.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$269,280
Cap Rate 7%
$192,343
Cap Rate 9%
$149,600
Alternative Uses
Best Use
Mixed Use
$192.3K
$168.3K – $224.4K
NOI $13,464 @ 7.0% cap · market cap 3.79%
Second Best
Apartment 5plus
$187.2K
$163.8K – $218.4K
NOI $13,103 @ 7.0% cap · market cap 3.69%
Theoretical Best
Healthcare Medical
$479.4K
$419.5K – $559.3K
NOI $33,560 @ 7.0% cap · market cap 9.45%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
2
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,985
Businesses Nearby
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Business Placement
Demographics for 62301, IL
31,481
Population
15,295
Households
2.1
Avg Household Size
39
Median Age
24%
College-Educated
91%
High-School Grad
11.2 sq mi
ZIP Area
2,811
Density / Sq Mi
$52,212
Median Household Income
$36,665
Median Earnings
$805
Median Rent
$124,200
Median Home Value
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - A flexible ground-floor commercial layout is paired with two renovated apartments upstairs.
Where is this mixed-use property located?
The property is located at 1224 BROADWAY Street Quincy, IL.
What is the asking price?
The asking price for this property is $355,000.
What are key features of this property?
This property features: Two 1‑bedroom, 1‑bath apartments renovated in 2024; 2,400 square feet total, with 1,200 square feet on each floor; Ground‑floor commercial area includes a reception area, bathroom, and seven private rooms
