Mixed-Use Building with
For Sale
$355,000
1224 BROADWAY Street, Quincy, IL 62301
Commercial Sale, Quincy, IL
Property Size2,400 SF
Lot Size0.21 Acres
Price / SF$147.92
Days on Market104
Property Features for 1224 BROADWAY Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
Commercial
Directions
On the South side of Broadway St, between 12th and 13th streets.
Standard status
Active
APN
23-1-1217-000-00
Lot size
0.21 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5316
Utilities
Sewer type
Public Sewer
Heating system
Natural Gas, Forced Air
Cooling system
Central Air
Amenities
laundry space
deck
Building Details
Floors in Building
2
Flooring type
Tile
Building materials
Brick, Frame
Roof type
Asphalt
Listing Agency:
eXp Realty
(888) 574-9405
Listed By:
Bryan Johnson
(614) 288-3239
Added: Jun 30
Changed: Oct 7
Last Checked: Oct 11 at 5:06AM
MLS# CA1044786
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.
Investment Insights
Based on property information with market context.
This two-story brick property contains 2,400 square feet, with 1,200 square feet on each level, across two parcels totaling 0.21 acres. The ground floor has a reception area, bathroom, and seven private rooms, along with two entrances and partition walls. It is available for an owner-occupant or a new tenant. The second floor holds two one-bedroom, one-bath apartments with long-term tenants. Renovated in 2024, the units received new appliances, plumbing, electrical work, and interior finishes; they share a laundry area and have a new deck and staircase.
The property fronts Broadway in Quincy, near the Blessing and QMG medical complexes. Traffic counts exceed 20,000 vehicles per day. The additional parcel provides off-street parking for tenants and customers.
Building systems include three newer gas furnaces, three newer water heaters, one central AC unit serving the ground floor, and two new central AC units for the apartments. A new asphalt-shingle roof, gutters, and soffits were installed in 2025.
The property fronts Broadway in Quincy, near the Blessing and QMG medical complexes. Traffic counts exceed 20,000 vehicles per day. The additional parcel provides off-street parking for tenants and customers.
Building systems include three newer gas furnaces, three newer water heaters, one central AC unit serving the ground floor, and two new central AC units for the apartments. A new asphalt-shingle roof, gutters, and soffits were installed in 2025.
Key Highlights
- 2,400 square feet total, with 1,200 square feet on each floor
- Two one‑bedroom, one‑bath apartments renovated in 2024; both have long‑term tenants
- Ground floor includes seven private rooms, reception area, bathroom, two entrances, and partition walls
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.
Property Analytics
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Current Use
Lease Details
2
Residential units
20,000 VPD
Traffic count
Multi-tenant
Tenancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,985
Businesses Nearby
Explore this area
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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Frequently Asked Questions
What type of property is this?
Mixed-use property - The ground-floor commercial area has two entrances and partitioned rooms that can be reconfigured for office or salon use.
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: 2,400 square feet total, with 1,200 square feet on each floor; Two one‑bedroom, one‑bath apartments renovated in 2024; both have long‑term tenants; Ground floor includes seven private rooms, reception area, bathroom, two entrances, and partition walls
