Retail Storefront
For Sale
$650,000
2933 18TH Avenue, Rock Island, IL 61201
A 2006-built retail property positioned across from HyVee and beside several established businesses.
Property Size3,780 SF
Days on Market27
Property Features for 2933 18TH Avenue
General Information
Standard status
Active
Size
3,780 SF
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$25,595
Building Details
Building Size
3,780 SF
Year Built
2006
Listing Agency:
Hawkeye Commercial Real Estate
(563) 344-4295
Listed By:
Chris Wilkins · License #475139041
Source:
Jjillrealtygroup
Added: Aug 4
Changed: Aug 28
Last Checked: Aug 29 at 10:17AM
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 Hawkeye Commercial Real Estate
Investment Insights
Based on property information with market context.
This 3,780-square-foot retail storefront property was built in 2006 and is located at 2933 18th Ave in Rock Island, Illinois. The property sits across from HyVee, with Walgreens, Checkers, KFC, and Wells Fargo located alongside it.
Key Highlights
- 3,780 square feet of retail space
- Built in 2006
- 2933 18th Ave, Rock Island, IL 61201
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
$31,260
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
4.81%
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%
$625,200
$625.2K
Cap Rate 7%
$446,571
$446.6K
Cap Rate 9%
$347,333
$347.3K
Market Conditions
NOI Build-Up for 3,780 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
$49.9K $13.20/SF
− Vacancy
−$5.2K −$1.39/SF
EGI
$44.7K $11.81/SF
− OpEx
−$13.4K −$3.54/SF
NOI
$31.3K $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 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%
$625,200
Cap Rate 7%
$446,571
Cap Rate 9%
$347,333
Alternative Uses
Best Use
Retail
$446.6K
$390.8K – $521.0K
NOI $31,260 @ 7.0% cap · market cap 4.81%
Second Best
—
—
no second resolved use
Theoretical Best
Healthcare Medical
$643.8K
$563.3K – $751.1K
NOI $45,063 @ 7.0% cap · market cap 6.93%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
435
Businesses Nearby
116k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 42%
Groceries 40%
Shops & Services 12%
Home Improvements & Furnishings 3%
Hy-Vee
Groceries
46,901 visits/mo
0.1 miles
McDonald's
Dining
29,497 visits/mo
0.1 miles
Checkers
Dining
8,573 visits/mo
0.1 miles
Shell
Shops & Services
8,439 visits/mo
0.1 miles
Dunkin' Donuts
Dining
7,746 visits/mo
0.2 miles
Demographics for 61201, IL
37,366
Population
17,459
Households
2.1
Avg Household Size
38
Median Age
22%
College-Educated
90%
High-School Grad
17.9 sq mi
ZIP Area
2,087
Density / Sq Mi
$57,260
Median Household Income
$34,541
Median Earnings
$822
Median Rent
$118,300
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Storefront property - A 2006-built retail property positioned across from HyVee and beside several established businesses.
Where is this storefront property located?
The property is located at 2933 18TH Avenue Rock Island, IL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,780 square feet of retail space; Built in 2006; 2933 18th Ave, Rock Island, IL 61201
