Retail, Warehouse, and Garage
For Sale
$550,000
1856 E Broadway, Alton, IL 62002
Commercial property featuring retail, warehouse, and garage spaces for sale.
Property Size7,126 SF
Price / SF$77.18
Days on Market162
Property Features for 1856 E Broadway
General Information
Standard status
Active
Size
7,126 SF
Building Details
Year Built
1977
Listing Agency:
Coldwell Banker Brown Realtors
Listed By:
Rick Lauschke · License #471000992
(618) 444-9182
Source:
Nations-network
Added: Apr 1
Changed: Sep 5
Last Checked: Sep 8 at 11:51AM
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 Coldwell Banker Brown Realtors
Investment Insights
Based on property information with market context.
This property features a commercial retail space, a warehouse, and a two-car garage. One storefront is occupied by a well-established restaurant and includes a shared storage area. The warehouse is currently rented to a long-term tenant on a month-to-month basis. The sale includes the commercial buildings and the land. Furniture and fixtures are excluded from the sale. The potential rental income from the storefronts is estimated to be $7,500 per month or more. This property is located in Alton, Illinois.
Key Highlights
- Includes commercial retail space, warehouse, and two‑car garage.
- Potential rental income of $7,500 per month or more from storefronts.
- Includes the commercial buildings and land.
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
$35,752
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
6.50%
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%
$715,040
$715.0K
Cap Rate 7%
$510,743
$510.7K
Cap Rate 9%
$397,244
$397.2K
Market Conditions
NOI Build-Up for 7,126 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
$43.2K $6.06/SF
− Vacancy
−$1.1K −$0.16/SF
EGI
$42.1K $5.90/SF
− OpEx
−$6.3K −$0.89/SF
NOI
$35.8K $5.02/SF
Area
Madison County, IL
Vacancy
2.60%
Lease Rate
$6.06 /SF/Yr
Expense Ratio
15.00%
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%
$715,040
Cap Rate 7%
$510,743
Cap Rate 9%
$397,244
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 authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Explore this area
Business Placement
Demographics for 62002, IL
30,176
Population
14,832
Households
2
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
41.3 sq mi
ZIP Area
731
Density / Sq Mi
$57,851
Median Household Income
$38,120
Median Earnings
$941
Median Rent
$114,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial property featuring retail, warehouse, and garage spaces for sale.
Where is this retail space 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: Includes commercial retail space, warehouse, and two‑car garage.; Potential rental income of $7,500 per month or more from storefronts.; Includes the commercial buildings and land.
