Mixed-Use Building with
1600 5th Ave, Moline, IL 61265
For Sale
$1,300,000
Four upstairs residences sit above commercial and office areas with separate access points.
Property Size14,400 SF
Price / SF$90.28
Days on Market9
Property Features for 1600 5th Ave
General Information
Standard status
Size
Property subtype
Tenancy & Operations
Currently Operating
Tenant in Place
Additional Details
Road Access
Multifamily Units
Building Details
Year Built
Listing Agency:
eXp Realty
Listed By:
Tedd Lear
(309) 269-6001
Source:
Searchillinoishomesforsale
Added: Nov 3
Changed: Nov 10
Last Checked: Nov 10 at 2:15PM
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 eXp Realty
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Investment Insights
Based on property information with market context.
This 14,400-square-foot mixed-use building, constructed in 1910, combines four second-floor apartments with ground-level commercial and office space. The commercial area has two kitchens and two separate entrances and addresses, with the layout offering the possibility of dividing it into two spaces. A south-side office has its own entrance and address. The restaurant business currently operating in the building is not part of the sale.
At 16th Street and 5th Avenue in downtown Moline, the property has off-street parking and is near restaurants, entertainment, hotels, and wedding and event venues. The upper floor also includes space identified as having potential for one or two additional apartments; any such use is subject to applicable requirements.
At 16th Street and 5th Avenue in downtown Moline, the property has off-street parking and is near restaurants, entertainment, hotels, and wedding and event venues. The upper floor also includes space identified as having potential for one or two additional apartments; any such use is subject to applicable requirements.
Key Highlights
- 14,400 SF mixed‑use property built in 1910
- Four apartments on the second floor
- Additional upper‑floor area with potential for 1–2 more apartments
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$88,577
Cap Rate
6.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,771,540
$1.8M
Cap Rate 7%
$1,265,386
$1.3M
Cap Rate 9%
$984,189
$984.2K
Market Conditions
NOI Build-Up for 14,400 SF
Gross rent
$172.8K $12.00/SF
− Vacancy
−$11.8K −$0.82/SF
EGI
$161.0K $11.18/SF
− OpEx
−$72.5K −$5.03/SF
NOI
$88.6K $6.15/SF
Area
Rock Island County, IL
Vacancy
6.80%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,771,540
Cap Rate 7%
$1,265,386
Cap Rate 9%
$984,189
Alternative Uses
Best Use
Specialty Retail
$2.42M
$2.12M – $2.82M
NOI $169,361 @ 7.0% cap · market cap 13.03%
Second Best
Mixed Use
$2.08M
$1.82M – $2.43M
NOI $145,800 @ 7.0% cap · market cap 11.22%
Theoretical Best
Healthcare Medical
$2.45M
$2.15M – $2.86M
NOI $171,668 @ 7.0% cap · market cap 13.21%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
4
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,006
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Four upstairs residences sit above commercial and office areas with separate access points.
Where is this mixed-use property located?
The property is located at 1600 5th Ave Moline, IL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 14,400 SF mixed‑use property built in 1910; Four apartments on the second floor; Additional upper‑floor area with potential for 1–2 more apartments
