Retail, Warehouse, and Garage
For Sale
$550,000
1856 E Broadway, Alton, IL 62002
Commercial property featuring retail, warehouse, and garage spaces for sale.
Property Size7,126 SF
Price / SF$77.18
Days on Market199
Property Features for 1856 E Broadway
General Information
Standard status
Active
Size
7,126 SF
Building Details
Year Built
1977
Listing Agency:
Coldwell Banker Brown Realtors
Listed By:
Rick Lauschke · License #471000992
(618) 444-9182
Source:
Nations-network
Added: Apr 1
Changed: Oct 2
Last Checked: Oct 7 at 3:04PM
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 Coldwell Banker Brown Realtors
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Investment Insights
Based on property information with market context.
This property features a commercial retail space, a warehouse, and a two-car garage. One storefront is occupied by a well-established restaurant and includes a shared storage area. The warehouse is currently rented to a long-term tenant on a month-to-month basis. The sale includes the commercial buildings and the land. Furniture and fixtures are excluded from the sale. The potential rental income from the storefronts is estimated to be $7,500 per month or more. This property is located in Alton, Illinois.
Key Highlights
- Includes commercial retail space, warehouse, and two‑car garage.
- Potential rental income of $7,500 per month or more from storefronts.
- Includes the commercial buildings and land.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$35,752
Cap Rate
6.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$715,040
$715.0K
Cap Rate 7%
$510,743
$510.7K
Cap Rate 9%
$397,244
$397.2K
Market Conditions
NOI Build-Up for 7,126 SF
Gross rent
$43.2K $6.06/SF
− Vacancy
−$1.1K −$0.16/SF
EGI
$42.1K $5.90/SF
− OpEx
−$6.3K −$0.89/SF
NOI
$35.8K $5.02/SF
Area
Madison County, IL
Vacancy
2.60%
Lease Rate
$6.06 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$715,040
Cap Rate 7%
$510,743
Cap Rate 9%
$397,244
Alternative Uses
Best Use
Retail
$1.25M
$1.09M – $1.46M
NOI $87,453 @ 7.0% cap · market cap 15.90%
Second Best
Warehouse
$510.7K
$446.9K – $595.9K
NOI $35,752 @ 7.0% cap · market cap 6.50%
Theoretical Best
Office A
$1.94M
$1.70M – $2.27M
NOI $135,964 @ 7.0% cap · market cap 24.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
198
Businesses Nearby
Explore this area
Business Placement
Demographics for 62002, IL
30,176
Population
14,832
Households
2
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
41.3 sq mi
ZIP Area
731
Density / Sq Mi
$57,851
Median Household Income
$38,120
Median Earnings
$941
Median Rent
$114,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Commercial property featuring retail, warehouse, and garage spaces for sale.
Where is this retail space located?
The property is located at 1856 E Broadway Alton, IL.
What is the asking price?
The asking price for this property is $550,000.
What are key features of this property?
This property features: Includes commercial retail space, warehouse, and two‑car garage.; Potential rental income of $7,500 per month or more from storefronts.; Includes the commercial buildings and land.
