Building Details

Year Built 1913

Year Renovated 2020

Stories 3

Listing Agency: Hawkeye Commercial Real Estate

Listed By: Shawn Stuenkel · License #S67977000 Show Phone

Source: Compass

Added: Mar 19 Changed: Oct 11 Last Checked: Oct 16 at 10:31AM

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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.

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 / Yr

$39,488

Cap Rate

3.95%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$789,760 $789.8K

Cap Rate 7%

$564,114 $564.1K

Cap Rate 9%

$438,756 $438.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,900 SF

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 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 (±1% cap)

NOI $39,488 @ 7.0% cap · market cap 3.95%

Second Best

Apartment 5plus

$342.7K

$299.9K – $399.8K (±1% cap)

NOI $23,990 @ 7.0% cap · market cap 2.40%

Theoretical Best

Healthcare Medical

$664.2K

$581.2K – $774.9K (±1% cap)

NOI $46,493 @ 7.0% cap · market cap 4.65%

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

Property Analytics

Current Use

Mixed-use properties

Suggested Use

Top Pick Real Estate Agency HVAC Service Skin Care Clinic Auto Parts Store Electrical Service (Bike/Boat/Book/etc) Store

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

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

6.5% 2022

7.5% 2023

7.8% 2024

8% 2025

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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