Building Details

Year Built 1950

Listing Agency: Cornerstone Partners QC - Real Broker, LLC

Listed By: Michael Ingleby · License #B22012000/475.093175 Show Phone

Source: Bktchicago

Added: Aug 30 Changed: Oct 4 Last Checked: Oct 7 at 1:45PM

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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 Cornerstone Partners QC - Real Broker, LLC

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Investment Insights

Based on property information with market context.

This Moline restaurant building includes approximately 150 seats arranged among booths and bar-style seating, along with a large walk-in cooler and separate walk-in freezer. The property also has dining, kitchen, and service areas, and the owners were working toward adding a pickup window. A patio was under consideration for the site.

The building is located at 2036 16th St beside Wharton Fieldhouse and Playground. Nearby businesses include Whitey's Ice Cream, Happy Joe's Pizza, and Country Style Ice Cream. On-site parking accommodates roughly 60 vehicles. The roof was replaced in 2000/2001.

Key Highlights

• Approximately 150 seats with booths and bar‑style seating
• Large walk‑in cooler and separate walk‑in freezer
• Roughly 60 on‑site parking spaces

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$28,227

Cap Rate

8.07%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$564,540 $564.5K

Cap Rate 7%

$403,243 $403.2K

Cap Rate 9%

$313,633 $313.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 2,400 SF

Gross rent

$38.9K $16.20/SF

− Vacancy

−$1.2K −$0.52/SF

EGI

$37.6K $15.68/SF

− OpEx

−$9.4K −$3.92/SF

NOI

$28.2K $11.76/SF

Area

Rock Island County, IL

Vacancy

3.20%

Lease Rate

$16.20 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$564,540

Cap Rate 7%

$403,243

Cap Rate 9%

$313,633

Alternative Uses

Best Use

Specialty Retail

$403.2K

$352.8K – $470.5K (±1% cap)

NOI $28,227 @ 7.0% cap · market cap 8.07%

Second Best

—

—

no second resolved use

Theoretical Best

Healthcare Medical

$408.7K

$357.6K – $476.9K (±1% cap)

NOI $28,611 @ 7.0% cap · market cap 8.18%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Maid-Rite Restaurant

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Dental Office Building Supply Big Box & Wholesale 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.

Location Intelligence

Trade Area within ½ mile

470

Businesses Nearby

25k

Monthly Visits Nearby

Under-served

Demand for This Use

Explore this area Business Placement

Foot Traffic Nearby

Dining 55% Shops & Services 43% Electronics 2%

Hardee's Dining

7,473 visits/mo 0.3 miles

La Rancherita Dining

4,801 visits/mo 0.2 miles

Conoco Shops & Services

3,721 visits/mo 0.1 miles

BP Shops & Services

2,894 visits/mo 0.3 miles

Super Wash Shops & Services

2,551 visits/mo 0.2 miles

Market

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Conventional restaurant - Includes dining areas, bar-style seating, walk-in refrigeration, and on-site parking.

Where is this conventional restaurant located?

The property is located at 2036 16th St Moline, IL.

What is the asking price?

The asking price for this property is $349,900.

What are key features of this property?

This property features: Approximately 150 seats with booths and bar‑style seating; Large walk‑in cooler and separate walk‑in freezer; Roughly 60 on‑site parking spaces