Storefront Retail with Restaurant
For Sale
$550,000
1856 E Broadway, Alton, IL 62002
COMMERCIAL - Alton, IL
Property Size7,126 SF
Lot Size1.00 Acre
Price / SF$77.18
Days on Market180
Property Features for 1856 E Broadway
General Information
Property type
Commercial Sale
Property subtype
Retail
Security features
Security System
Subdivision
Not in a Subdivision
Directions
Clark bridge to Landmarks Blvd. east to Broadway(east) to property on left. or Route 143 to CPL Chris Belchik Memorial Expressway to Broadway(east) and property will be on the left.
Standard status
Active
APN
23-1-08-18-09-201-001
Size
7,126 SF
Lot size
1.00 Acre
Taxes and HOA fees
Tax Year
2025
Tax Description
ATOL IN W PT NW 1/4SEC 18-5-9 TX LT 612
Tax Annual Amount
3463
Legal Description
ATOL IN W PT NW 1/4SEC 18-5-9 TX LT 612
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas, Electric (Heating)
Cooling system
Central Air, Electric
Water source
Public
Building Details
Year built
1977
Floors in Building
1
Building materials
Brick, Concrete, Block
Roof type
Shingle, Asphalt
Listing Agency:
Coldwell Banker Brown Realtors · Coldwell Banker Real Estate
(618) 465-2966
Listed By:
Rick Lauschke · License #471000992
(618) 692-7290
Added: Feb 16
Changed: Aug 4
Last Checked: Aug 15 at 9:06PM
MLS# 24063235
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This storefront retail property in Alton includes commercial retail space, a warehouse, and a two-car garage. The storefront area is occupied by a long-established restaurant and shares a common storage area with the additional space. A long-time tenant is renting the warehouse on a month-to-month basis. Furniture and fixtures are not included in the sale, and the sale includes the commercial buildings and land.
The property sits on a 1-acre lot and contains 7,126 square feet built in 1977. The building materials include brick, concrete, and block, with an asphalt and shingle roof. Heating options include electric forced air and natural gas, and cooling is provided by central air with electric service. Water is supplied by public sources, and the property is served by public sewer. Cable is available.
The property sits on a 1-acre lot and contains 7,126 square feet built in 1977. The building materials include brick, concrete, and block, with an asphalt and shingle roof. Heating options include electric forced air and natural gas, and cooling is provided by central air with electric service. Water is supplied by public sources, and the property is served by public sewer. Cable is available.
Key Highlights
- 1‑acre lot with 7,126 SF built in 1977
- Restaurant storefront occupied; shares common storage area
- Warehouse tenant on month‑to‑month basis
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
$35,752
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
6.50%
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%
$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
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
$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 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%
$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.
Property Analytics
Property Profile
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
430
Businesses Nearby
Balanced
Demand for This Use
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
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Includes a restaurant storefront, shared storage, warehouse, and two-car garage in a brick building with central air and natural gas heat.
Where is this storefront property 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: 1‑acre lot with 7,126 SF built in 1977; Restaurant storefront occupied; shares common storage area; Warehouse tenant on month‑to‑month basis
