Three-Story Mixed-Use
For Sale
Contact for pricing
1601 5th Ave, Moline, IL 61265
Three-story property combines commercial space with renovated residential apartments.
Property Size9,897 SF
Price / SF$100.94
Days on Market189
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Property Features for 1601 5th Ave
General Information
Standard status
Active
Size
9,897 SF
Property subtype
Mixed Use, Multifamily
Zoning
SX-1
Occupancy
100%
Additional Details
Cap Rate
8.5%
Utilities to Site
Yes
Multifamily Units
6
Amenities
basement storage
Building Details
Year Built
1913
Year Renovated
2020
Buildings
1
Stories
3
Units
6
Tenancy
Multi
Listing Agency:
The Hawkeye Group
Listed By:
Max Gellerman, CCIM · License #S69838000
(563) 676-2806
Source:
Crexi
Added: Apr 10
Changed: Oct 4
Last Checked: Oct 14 at 8:46PM
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 The Hawkeye Group
Investment Insights
Based on property information with market context.
This three-story mixed-use property contains 9,897 SF with two commercial units on the ground level and six residential apartments above. One commercial space measures 1,500 SF and is available, while the other is occupied. The apartments are fully leased and underwent renovations during 2019–2020. Basement storage is available for tenants, and full-service gross leases include internet, gas/electric, water, sewer, and garbage.
Located in downtown Moline, the property is zoned SX-1 and was constructed in 1913. Capital work has included furnaces, roofing, tuckpointing, windows, and doors. The asset is presented with an 8.5% cap rate and combines commercial and residential occupancy within a single building.
Located in downtown Moline, the property is zoned SX-1 and was constructed in 1913. Capital work has included furnaces, roofing, tuckpointing, windows, and doors. The asset is presented with an 8.5% cap rate and combines commercial and residential occupancy within a single building.
Key Highlights
- 9,897 SF, three‑story mixed‑use building in downtown Moline
- Two commercial units, including a 1,500 SF available space
- Six fully leased residential units on the second and third floors
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$81,846
Cap Rate
8.19%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,636,920
$1.6M
Cap Rate 7%
$1,169,229
$1.2M
Cap Rate 9%
$909,400
$909.4K
Market Conditions
NOI Build-Up for 9,897 SF
Gross rent
$130.6K $13.20/SF
− Vacancy
−$13.7K −$1.39/SF
EGI
$116.9K $11.81/SF
− OpEx
−$35.1K −$3.54/SF
NOI
$81.8K $8.27/SF
Area
Rock Island County, IL
Vacancy
10.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,636,920
Cap Rate 7%
$1,169,229
Cap Rate 9%
$909,400
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.
How Realmo checks its estimates
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
Lease Details
6
Residential units
Multi-tenant
Tenancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
990
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three-story property combines commercial space with renovated residential apartments.
Where is this mixed-use property located?
The property is located at 1601 5th Ave 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: 9,897 SF, three‑story mixed‑use building in downtown Moline; Two commercial units, including a 1,500 SF available space; Six fully leased residential units on the second and third floors
