Renovated Commercial Building in
For Sale
Contact for pricing
1426 N 26th Street, Quincy, IL 62301
Versatile commercial building in industrial area, handicap accessible.
Property Size5,391 SF
Price / SF$92.56
Days on Market157
Property Features for 1426 N 26th Street
General Information
Standard status
Active
Size
5,391 SF
Property subtype
Office, Land
Zoning
COMMR
Listing Agency:
Bower & Associates Inc., Realtors
(217) 430-5698
Listed By:
John and Debra Walter · License #IL 475.170976
Source:
Crexi
Added: Mar 17
Changed: Aug 18
Last Checked: Aug 19 at 10:29PM
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 recently renovated building is currently used as a credit union but offers multiple possibilities. The property features over 8 multi-use offices and 3 half baths, along with larger areas suitable for a variety of uses. A majority of the windows were replaced in 2017, and a new roof was installed in 2023. The building provides 5391 square feet of office space. High-speed internet fiber is available. The property is handicap accessible and has 11 to 25 parking spaces. It benefits from a location with easy access to all parts of Quincy.
Key Highlights
- Recently renovated commercial building with 5391 sqft of office space.
- New roof installed in 2023.
- Located in a convenient K‑4 (industrial) area 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
—
—
no second resolved use
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 industrial area, handicap accessible.
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 5391 sqft of office space.; New roof installed in 2023.; Located in a convenient K‑4 (industrial) area with easy access to all parts of Quincy.
