Medical Office Condo with
For Sale
$125,000
616 35th Ave Unit 2, Moline, IL 61265
Single-story professional unit with a lower-level basement and current medical office use.
Property Size1,060 SF
Price / SF$117.92
Days on Market23
Property Features for 616 35th Ave Unit 2
General Information
Standard status
Active
Size
1,060 SF
Building Details
Year Built
1984
Stories
1
Listing Agency:
Mel Foster Co. Commercial
(563) 324-4488
Listed By:
Thad Denhartog, SIOR · License #B39654000/471.002649
Source:
Realtopiare
Added: Aug 6
Changed: Aug 28
Last Checked: Aug 28 at 12:49PM
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 Mel Foster Co. Commercial
Investment Insights
Based on property information with market context.
This 1,060-square-foot condominium is configured for medical office use and occupies a single-story building with basement space. The property was constructed in 1984 and is identified as Unit 2 within the professional condominium development.
Located at 616 35th Ave in Moline, Illinois, the unit offers a compact commercial setting for an owner-user or medical office operation. Its existing use, one-level layout, and basement provide the primary physical characteristics of the property.
Located at 616 35th Ave in Moline, Illinois, the unit offers a compact commercial setting for an owner-user or medical office operation. Its existing use, one-level layout, and basement provide the primary physical characteristics of the property.
Key Highlights
- 1,060 sq ft medical office condominium
- Single‑story layout with basement space
- Built in 1984
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
$8,929
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
7.14%
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%
$178,580
$178.6K
Cap Rate 7%
$127,557
$127.6K
Cap Rate 9%
$99,211
$99.2K
Market Conditions
NOI Build-Up for 1,060 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
$15.3K $14.40/SF
− Vacancy
−$3.4K −$3.17/SF
EGI
$11.9K $11.23/SF
− OpEx
−$3.0K −$2.81/SF
NOI
$8.9K $8.42/SF
Area
Rock Island County, IL
Vacancy
22.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
25.00%
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%
$178,580
Cap Rate 7%
$127,557
Cap Rate 9%
$99,211
Alternative Uses
Best Use
Healthcare Medical
$180.5K
$158.0K – $210.6K
NOI $12,637 @ 7.0% cap · market cap 10.11%
Second Best
Office B
$127.6K
$111.6K – $148.8K
NOI $8,929 @ 7.0% cap · market cap 7.14%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,045
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 61265, IL
44,342
Population
20,396
Households
2.2
Avg Household Size
40
Median Age
28%
College-Educated
89%
High-School Grad
19.2 sq mi
ZIP Area
2,309
Density / Sq Mi
$63,910
Median Household Income
$38,960
Median Earnings
$890
Median Rent
$142,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Medical Office Space - Single-story professional unit with a lower-level basement and current medical office use.
Where is this medical office space located?
The property is located at 616 35th Ave Unit 2 Moline, IL.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: 1,060 sq ft medical office condominium; Single‑story layout with basement space; Built in 1984
