Mixed-Use Building with
For Sale
$235,000
1520 6th Ave, Moline, IL 61265
Two street-level commercial units accompany an upstairs apartment with separate living areas and in-unit laundry.
Property Size2,457 SF
Price / SF$95.65
Days on Market42
Property Features for 1520 6th Ave
General Information
Standard status
Active
Size
2,457 SF
Occupancy
100%
Units
Unit Mix
1 x 2BR/1BA
Multifamily Units
1
Amenities
in-unit laundry
rear deck
Building Details
Year Built
1909
Buildings
1
Tenancy
Multi
Listing Agency:
HomeSmart Residential and Commercial Realty
Listed By:
Tim Miner
Source:
Grandviewrealtyservices
Added: Jul 20
Changed: Aug 29
Last Checked: Aug 25 at 4:46AM
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 HomeSmart Residential and Commercial Realty
Investment Insights
Based on property information with market context.
Built in 1909, this mixed-use building combines two street-level commercial units with an upstairs two-bedroom, one-bath apartment. The commercial spaces share a common area and restroom, while the residential unit includes distinct living spaces, in-unit laundry, and access to a rear deck. The property is fully leased.
The building is located in downtown Moline and falls within the River Edge Redevelopment Zone, where qualifying redevelopment projects may be eligible for financial incentives.
The building is located in downtown Moline and falls within the River Edge Redevelopment Zone, where qualifying redevelopment projects may be eligible for financial incentives.
Key Highlights
- Two street‑level commercial units plus an upstairs two‑bedroom, one‑bath apartment
- Fully leased mixed‑use property
- Apartment includes separate living spaces, in‑unit laundry, and rear deck access
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
$20,319
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
8.65%
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%
$406,380
$406.4K
Cap Rate 7%
$290,271
$290.3K
Cap Rate 9%
$225,767
$225.8K
Market Conditions
NOI Build-Up for 2,457 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
$32.4K $13.20/SF
− Vacancy
−$3.4K −$1.39/SF
EGI
$29.0K $11.81/SF
− OpEx
−$8.7K −$3.54/SF
NOI
$20.3K $8.27/SF
Area
Rock Island County, IL
Vacancy
10.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
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%
$406,380
Cap Rate 7%
$290,271
Cap Rate 9%
$225,767
Alternative Uses
Best Use
Mixed Use
$355.4K
$311.0K – $414.6K
NOI $24,877 @ 7.0% cap · market cap 10.59%
Second Best
Retail
$290.3K
$254.0K – $338.7K
NOI $20,319 @ 7.0% cap · market cap 8.65%
Theoretical Best
Healthcare Medical
$418.4K
$366.1K – $488.2K
NOI $29,291 @ 7.0% cap · market cap 12.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
1
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
1,074
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 Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Mixed-use property - Two street-level commercial units accompany an upstairs apartment with separate living areas and in-unit laundry.
Where is this mixed-use property located?
The property is located at 1520 6th Ave Moline, IL.
What is the asking price?
The asking price for this property is $235,000.
What are key features of this property?
This property features: Two street‑level commercial units plus an upstairs two‑bedroom, one‑bath apartment; Fully leased mixed‑use property; Apartment includes separate living spaces, in‑unit laundry, and rear deck access
