Downtown Mixed-Use Investment
For Sale
$999,000
1601-1605 5th Avenue, Moline, IL 61265
Three-story mixed-use building with two ground-floor commercial units and six fully leased residential units above.
Days on Market113
Property Features for 1601-1605 5th Avenue
General Information
Standard status
Active
Property subtype
Commercial
Additional Details
Cap Rate
8.5%
Multifamily Units
6
Amenities
basement storage
Building Details
Building Size
9,897 SF
Year Built
1913
Year Renovated
2020
Stories
3
Tenancy
Multi
Listing Agency:
Hawkeye Commercial Real Estate
(563) 344-4295
Listed By:
Shawn Stuenkel · License #S67977000/475.189483
(563) 344-4295
Source:
Perillorealestategroup
Added: Apr 9
Changed: Jul 26
Last Checked: Jul 30 at 12:12PM
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 three-story mixed-use investment property includes two commercial units on the ground level and six residential units on the second and third floors. One commercial unit is currently vacant, offering approximately 1,500 SF, while the other is occupied by a stabilized tenant. The residential units have been fully leased and were renovated in 2019–2020.
Reported capital improvements include new furnaces, a new roof, tuckpointing, and updated windows and doors, supporting a well-maintained asset profile. Tenants have access to basement storage, and full-service leases are in place for all residential units, with internet and utilities included (gas/electric, water, sewer, and garbage), which can simplify building operations.
Showings are available by contacting the listing agents, with 24-hour notice required.
Reported capital improvements include new furnaces, a new roof, tuckpointing, and updated windows and doors, supporting a well-maintained asset profile. Tenants have access to basement storage, and full-service leases are in place for all residential units, with internet and utilities included (gas/electric, water, sewer, and garbage), which can simplify building operations.
Showings are available by contacting the listing agents, with 24-hour notice required.
Key Highlights
- Three‑story mixed‑use building in downtown Moline, with 2 ground‑floor commercial units and 6 fully leased residential units
- Residential units were renovated in 2019‑2020
- Capital improvements include new furnaces, roof, tuckpointing, windows, and doors
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $130.6k | $13.20 |
| − Vacancy | −$13.7k | −$1.39 |
| EGI | $116.9k | $11.81 |
| − OpEx | −$35.1k | −$3.54 |
| NOI | $81.8k | $8.27 |
9,897 SF · lease $13.20/SF/yr · vacancy 10.50% · expense 30.00%
Alternative Uses
Best Use
Mixed Use
$1.43M
$1.25M – $1.67M
NOI $100,207 @ 7.0% cap · market cap 10.03%
Second Best
Retail
$1.17M
$1.02M – $1.36M
NOI $81,846 @ 7.0% cap · market cap 8.19%
Theoretical Best
Healthcare Medical
$1.69M
$1.47M – $1.97M
NOI $117,986 @ 7.0% cap · market cap 11.81%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
322
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 - Three-story mixed-use building with two ground-floor commercial units and six fully leased residential units above.
Where is this mixed-use property located?
The property is located at 1601-1605 5th Avenue Moline, IL.
What is the asking price?
The asking price for this property is $999,000.
What are key features of this property?
This property features: Three‑story mixed‑use building in downtown Moline, with 2 ground‑floor commercial units and 6 fully leased residential units; Residential units were renovated in 2019‑2020; Capital improvements include new furnaces, roof, tuckpointing, windows, and doors
