Listing Agency: Happel, Inc., REALTORS Show Phone

Listed By: Jacquelyn Weisenburger · License #475141177 Show Phone

Source: Exitrealty

Added: Nov 21, 2024 Changed: Oct 6 Last Checked: Oct 14 at 9:54PM

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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 Happel, Inc., REALTORS

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Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$6,055

Suggested Prices Based on Cap Rates

Cap Rate 5%

$121,100 $121.1K

Cap Rate 7%

$86,500 $86.5K

Cap Rate 9%

$67,278 $67.3K

What to ask about pricing

Market Conditions

NOI Build-Up for 1,109 SF

Gross rent

$11.7K $10.56/SF

− Vacancy

−$703 −$0.63/SF

EGI

$11.0K $9.93/SF

− OpEx

−$5.0K −$4.47/SF

NOI

$6.1K $5.46/SF

Area

Adams County, IL

Vacancy

6.00%

Lease Rate

$10.56 /SF/Yr

Expense Ratio

45.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$121,100

Cap Rate 7%

$86,500

Cap Rate 9%

$67,278

Alternative Uses

Best Use

Multifamily LT 5

$93.3K

$81.7K – $108.9K (±1% cap)

NOI $6,533 @ 7.0% cap · market cap 24.20%

Second Best

Apartment 5plus

$86.5K

$75.7K – $100.9K (±1% cap)

NOI $6,055 @ 7.0% cap · market cap 22.43%

Theoretical Best

Healthcare Medical

$221.5K

$193.9K – $258.5K (±1% cap)

NOI $15,508 @ 7.0% cap · market cap 57.44%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Duplexes

Suggested Use

Top Pick Parking Lot & Garage Grocery & Convenience Store Computer & Electronic Repair Storage Facility Bakery Plumbing Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

2,037

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 Multifamily in Midwest region

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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Frequently Asked Questions

Where is this duplex located?

The property is located at 525-527 COLLEGE Avenue Quincy, IL.