Building Details

Building Size 5,300 SF

Year Built 2015

Stories 2

Listing Agency: RE/MAX Concepts Bettendorf

Listed By: Richard Bassford · License #S42142000/475.142927 Show Phone

Source: Crossdavidson

Added: Oct 19 Changed: Oct 23 Last Checked: Oct 23 at 5:12PM

Report an Issue

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 RE/MAX Concepts Bettendorf

Ask AI about this property

Review the available facts, identify missing information and prepare questions for the agent.

What should I ask the agent before proceeding? What information is missing from this listing?

Investment Insights

Based on property information with market context.

At 602 2nd Street in Andalusia, this 4,000-square-foot flex facility was constructed in 2015 and is zoned COMMR. The 40-by-100-foot building includes a workshop with two 14-by-14-foot overhead doors and dedicated cold storage. Its climate-controlled office area has four private offices, a conference room, two bathrooms, and a full kitchen with a range, refrigerator, and microwave.

The fenced property includes a large parking lot, two electrified outbuildings, and a separate one-bedroom, one-bathroom residence. One outbuilding measures 10 by 20 feet, is insulated, and has an A/C unit; the second measures 12 by 20 feet. A roof, siding, windows, furnace, and doors were replaced within the last five years.

Key Highlights

• 4,000‑square‑foot flex building constructed in 2015
• Workshop has two 14‑by‑14‑foot overhead doors and dedicated cold storage
• Office area includes four private offices, a conference room, two bathrooms, and a full kitchen

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$41,380

Cap Rate

9.20%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$827,600 $827.6K

Cap Rate 7%

$591,143 $591.1K

Cap Rate 9%

$459,778 $459.8K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,300 SF

Gross rent

$51.5K $9.72/SF

− Vacancy

−$2.8K −$0.53/SF

EGI

$48.7K $9.19/SF

− OpEx

−$7.3K −$1.38/SF

NOI

$41.4K $7.81/SF

Area

Rock Island County, IL

Vacancy

5.50%

Lease Rate

$9.72 /SF/Yr

Expense Ratio

15.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$827,600

Cap Rate 7%

$591,143

Cap Rate 9%

$459,778

Alternative Uses

Best Use

Mixed Use

$766.6K

$670.8K – $894.4K (±1% cap)

NOI $53,663 @ 7.0% cap · market cap 11.93%

Second Best

Flex RnD

$626.2K

$547.9K – $730.6K (±1% cap)

NOI $43,833 @ 7.0% cap · market cap 9.74%

Theoretical Best

Healthcare Medical

$902.6K

$789.8K – $1.05M (±1% cap)

NOI $63,183 @ 7.0% cap · market cap 14.04%

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

Taylor Ridge Paving ... General Contractor

Suggested Use

Top Pick Auto Parts Store Storage Facility Bakery Grocery & Convenience Store Gym & Fitness Center Daycare Center

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Fenced yard

Location Intelligence

Trade Area within ½ mile

67

Businesses Nearby

Well-served

Demand for This Use

Explore this area Business Placement

Demographics for 61232, IL

1,335

Population

700

Households

1.9

Avg Household Size

44

Median Age

15%

College-Educated

96%

High-School Grad

3.2 sq mi

ZIP Area

417

Density / Sq Mi

$71,806

Median Household Income

$45,213

Median Earnings

$925

Median Rent

$174,600

Median Home Value

Market

Vacancy Rate% for Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

Frequently Asked Questions

What type of property is this?

Flex space - The property combines a controlled-temperature office suite with a workshop, separate residence, and accessory storage buildings.

Where is this flex space located?

The property is located at 602 2nd Street Andalusia, IL.

What is the asking price?

The asking price for this property is $450,000.

What are key features of this property?

This property features: 4,000‑square‑foot flex building constructed in 2015; Workshop has two 14‑by‑14‑foot overhead doors and dedicated cold storage; Office area includes four private offices, a conference room, two bathrooms, and a full kitchen