Renovated Medical Office
For Sale
$239,900
1620 9th St, East Moline, IL 61244
Medical office with patient rooms, reception areas, built-in cabinetry, sinks, and on-site parking.
Property Size1,777 SF
Price / SF$135
Days on Market48
Property Features for 1620 9th St
General Information
Standard status
Active
Size
1,777 SF
Building Details
Year Built
1967
Listing Agency:
Mel Foster Co. Commercial
(563) 324-4488
Listed By:
Nick Roman, Nick Reuter · License #S7386000
Source:
Amyboston.realtopiare
Added: Jul 14
Changed: Aug 29
Last Checked: Aug 25 at 3:58AM
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 Mel Foster Co. Commercial
Investment Insights
Based on property information with market context.
This medical office property offers 1,777 square feet with multiple patient rooms, a reception area, and a waiting room. Built-in cabinets and sinks support clinical or professional office functions, while the main level includes two bathrooms and the unfinished basement provides a third bathroom. The building dates to 1967 and includes a large parking lot with 13 spaces.
Recent improvements include a full renovation in 2007, new Pella windows and doors in 2018, and a new furnace and AC installed in 2021. The property is located at 1620 9th St in East Moline, Illinois.
Recent improvements include a full renovation in 2007, new Pella windows and doors in 2018, and a new furnace and AC installed in 2021. The property is located at 1620 9th St in East Moline, Illinois.
Key Highlights
- 1,777‑square‑foot medical office property
- Multiple patient rooms plus front office and waiting room
- Built‑in cabinets and sinks throughout
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
$21,184
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
8.83%
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%
$423,680
$423.7K
Cap Rate 7%
$302,629
$302.6K
Cap Rate 9%
$235,378
$235.4K
Market Conditions
NOI Build-Up for 1,777 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
$39.4K $22.20/SF
− Vacancy
−$4.1K −$2.33/SF
EGI
$35.3K $19.87/SF
− OpEx
−$14.1K −$7.95/SF
NOI
$21.2K $11.92/SF
Area
Rock Island County, IL
Vacancy
10.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
40.00%
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%
$423,680
Cap Rate 7%
$302,629
Cap Rate 9%
$235,378
Alternative Uses
Best Use
Healthcare Medical
$302.6K
$264.8K – $353.1K
NOI $21,184 @ 7.0% cap · market cap 8.83%
Second Best
Office B
$213.8K
$187.1K – $249.5K
NOI $14,969 @ 7.0% cap · market cap 6.24%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
457
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 61244, IL
24,004
Population
10,135
Households
2.4
Avg Household Size
41
Median Age
21%
College-Educated
87%
High-School Grad
26.9 sq mi
ZIP Area
892
Density / Sq Mi
$66,827
Median Household Income
$39,823
Median Earnings
$828
Median Rent
$140,600
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Medical office with patient rooms, reception areas, built-in cabinetry, sinks, and on-site parking.
Where is this medical office space located?
The property is located at 1620 9th St East Moline, IL.
What is the asking price?
The asking price for this property is $239,900.
What are key features of this property?
This property features: 1,777‑square‑foot medical office property; Multiple patient rooms plus front office and waiting room; Built‑in cabinets and sinks throughout
