Fully Leased Office
For Sale
$1,200,000
4950 38TH Avenue, Moline, IL 61265
Single-tenant occupancy is secured through October 2031, with attached parking and prominent roadside signage.
Property Size10,800 SF
Price / SF$111.11
Days on Market497
Property Features for 4950 38TH Avenue
General Information
Standard status
Active
Size
10,800 SF
Property subtype
Commercial
Zoning
C
Taxes and HOA fees
Annual Taxes
$29,481
Building Details
Building Size
10,800 SF
Year Built
1996
Listing Agency:
Hawkeye Commercial Real Estate
(563) 344-4295
Listed By:
Chris Wilkins · License #475139041
(563) 344-4295
Source:
Gia-sells
Added: Apr 11, 2025
Changed: Aug 19
Last Checked: Aug 20 at 1:26PM
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 Hawkeye Commercial Real Estate
Investment Insights
Based on property information with market context.
This 10,800 SF professional office building occupies 1.00 acre in Moline and is zoned C. The property is fully leased to one law firm, with the current lease extending through October 2031. An attached parking lot provides space for approx. 60+ vehicles, supporting the building’s office use.
The property is positioned off John Deere Road near 38th Avenue. A large, illuminated monument sign faces John Deere Road, providing roadside identification for the occupant. The address is 4950 38TH Avenue, Moline, IL 61265.
The property is positioned off John Deere Road near 38th Avenue. A large, illuminated monument sign faces John Deere Road, providing roadside identification for the occupant. The address is 4950 38TH Avenue, Moline, IL 61265.
Key Highlights
- 10,800 SF professional office building on 1.00 acre
- Fully leased to a single law firm tenant through October 2031
- Attached parking lot accommodates approx. 60+ vehicles
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
$90,979
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
7.58%
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%
$1,819,580
$1.8M
Cap Rate 7%
$1,299,700
$1.3M
Cap Rate 9%
$1,010,878
$1.0M
Market Conditions
NOI Build-Up for 10,800 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
$155.5K $14.40/SF
− Vacancy
−$34.2K −$3.17/SF
EGI
$121.3K $11.23/SF
− OpEx
−$30.3K −$2.81/SF
NOI
$91.0K $8.42/SF
Area
Rock Island County, IL
Vacancy
22.00%
Lease Rate
$14.40 /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%
$1,819,580
Cap Rate 7%
$1,299,700
Cap Rate 9%
$1,010,878
Alternative Uses
Best Use
Office B
$1.30M
$1.14M – $1.52M
NOI $90,979 @ 7.0% cap · market cap 7.58%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$1.84M
$1.61M – $2.15M
NOI $128,751 @ 7.0% cap · market cap 10.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
743
Businesses Nearby
Explore this area
Business Placement
Demographics for 61265, IL
44,342
Population
20,396
Households
2.2
Avg Household Size
40
Median Age
28%
College-Educated
89%
High-School Grad
19.2 sq mi
ZIP Area
2,309
Density / Sq Mi
$63,910
Median Household Income
$38,960
Median Earnings
$890
Median Rent
$142,300
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 - Single-tenant occupancy is secured through October 2031, with attached parking and prominent roadside signage.
Where is this office building located?
The property is located at 4950 38TH Avenue Moline, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: 10,800 SF professional office building on 1.00 acre; Fully leased to a single law firm tenant through October 2031; Attached parking lot accommodates approx. 60+ vehicles
