Renovated Commercial Building in
For Sale
$499,000
1426 N 26th Street, Quincy, IL 62301
Versatile commercial building in a convenient industrial area.
Property Size5,391 SF
Lot Size0.89 Acres
Price / SF$92.56
Days on Market530
Property Features for 1426 N 26th Street
General Information
Standard status
Active
Size
5,391 SF
Lot size
0.89 Acres
Property subtype
Commercial/Industrial
Taxes and HOA fees
Annual Taxes
$9,490
Listing Agency:
Bower & Associates, Inc., REALTORS
(217) 430-5698
Listed By:
John Walter · License #475170976
(217) 430-5698
Source:
Exitrealty
Added: Mar 8, 2025
Changed: Aug 8
Last Checked: Aug 8 at 6:24AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Bower & Associates, Inc., REALTORS
Investment Insights
Based on property information with market context.
This commercial building is located in a convenient K-4 industrial area. The property has been recently renovated and is currently used as a credit union, but it offers multiple possibilities for other uses. The building features over 8 multi-use offices and 3 half baths, along with a number of larger areas suitable for a variety of purposes. A majority of the windows were replaced in 2017, and a new roof was installed in 2023. The building provides approximately 5391 square feet of office space. The location offers easy access to all parts of Quincy. The building is handicap accessible and has high-speed internet fiber available.
Key Highlights
- Recently renovated commercial building with multiple possibilities.
- New roof installed in 2023.
- Convenient K‑4 (industrial) area location with easy access to all parts of Quincy.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$42,794
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.58%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$855,880
$855.9K
Cap Rate 7%
$611,343
$611.3K
Cap Rate 9%
$475,489
$475.5K
Market Conditions
NOI Build-Up for 5,391 SF
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.
Gross rent
$67.9K $12.60/SF
− Vacancy
−$10.9K −$2.02/SF
EGI
$57.1K $10.58/SF
− OpEx
−$14.3K −$2.65/SF
NOI
$42.8K $7.94/SF
Area
Adams County, IL
Vacancy
16.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$855,880
Cap Rate 7%
$611,343
Cap Rate 9%
$475,489
Alternative Uses
Best Use
Office B
$611.3K
$534.9K – $713.2K
NOI $42,794 @ 7.0% cap · market cap 8.58%
Second Best
Retail
$580.8K
$508.2K – $677.6K
NOI $40,654 @ 7.0% cap · market cap 8.15%
Theoretical Best
Healthcare Medical
$1.08M
$942.3K – $1.26M
NOI $75,385 @ 7.0% cap · market cap 15.11%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
245
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Versatile commercial building in a convenient industrial area.
Where is this office building located?
The property is located at 1426 N 26th Street Quincy, IL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: Recently renovated commercial building with multiple possibilities.; New roof installed in 2023.; Convenient K‑4 (industrial) area location with easy access to all parts of Quincy.
