Three-Story Mixed-Use
For Sale
$999,000
1601-1605 5th Avenue, Moline, IL 61265
Downtown Moline property combines commercial space with leased apartments and major building-system updates.
Property Size3,900 SF
Price / SF$256.15
Days on Market145
Property Features for 1601-1605 5th Avenue
General Information
Standard status
Active
Size
3,900 SF
Property subtype
Commercial Sale / Mixed Use
Zoning
COMMR
Net Operating Income
$84,600
Additional Details
Cap Rate
8.5%
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$5,406
Amenities
basement storage
Building Details
Year Built
1913
Year Renovated
2020
Stories
3
Listing Agency:
Hawkeye Commercial Real Estate
(563) 344-4295
Listed By:
Shawn Stuenkel · License #S67977000/475.189483
(563) 344-4295
Source:
Compass
Added: Apr 8
Changed: Aug 29
Last Checked: Aug 29 at 3:45PM
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.
Located at 1601-1605 5th Avenue in downtown Moline, this three-story mixed-use property includes two commercial units and six residential apartments. One commercial space offers 1,500 SF of vacancy, while the other is occupied by a stabilized tenant. The residential units occupy the upper floors and were renovated during 2019-2020.
Capital work includes replacement furnaces, a newer roof, tuckpointing, windows, and doors. Basement storage serves the occupants, and full-service leases include internet, gas/electric, water, sewer, and garbage. The property is zoned COMMR and is offered with an 8.5 cap rate.
Capital work includes replacement furnaces, a newer roof, tuckpointing, windows, and doors. Basement storage serves the occupants, and full-service leases include internet, gas/electric, water, sewer, and garbage. The property is zoned COMMR and is offered with an 8.5 cap rate.
Key Highlights
- Two commercial units, including 1,500 SF of available space and one stabilized tenant
- Six residential units on the second and third floors are fully leased
- Residential apartments renovated in 2019‑2020
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
$39,488
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
3.95%
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%
$789,760
$789.8K
Cap Rate 7%
$564,114
$564.1K
Cap Rate 9%
$438,756
$438.8K
Market Conditions
NOI Build-Up for 3,900 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
$70.2K $18.00/SF
− Vacancy
−$7.0K −$1.80/SF
EGI
$63.2K $16.20/SF
− OpEx
−$23.7K −$6.07/SF
NOI
$39.5K $10.13/SF
Area
Rock Island County, IL
Vacancy
10.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
37.50%
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%
$789,760
Cap Rate 7%
$564,114
Cap Rate 9%
$438,756
Alternative Uses
Best Use
Mixed Use
$564.1K
$493.6K – $658.1K
NOI $39,488 @ 7.0% cap · market cap 3.95%
Second Best
Apartment 5plus
$342.7K
$299.9K – $399.8K
NOI $23,990 @ 7.0% cap · market cap 2.40%
Theoretical Best
Healthcare Medical
$664.2K
$581.2K – $774.9K
NOI $46,493 @ 7.0% cap · market cap 4.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
455
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 - Downtown Moline property combines commercial space with leased apartments and major building-system updates.
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: Two commercial units, including 1,500 SF of available space and one stabilized tenant; Six residential units on the second and third floors are fully leased; Residential apartments renovated in 2019‑2020
