Fenced Flex Space with
For Sale
$335,000
630 W 2ND Avenue, Milan, IL 61264
A heated work area and a multi-room office suite combine within a brick-and-steel commercial building.
Property Size3,600 SF
Lot Size0.40 Acres
Price / SF$93.06
Days on Market19
Property Features for 630 W 2ND Avenue
General Information
Standard status
Active
Size
3,600 SF
Lot size
0.40 Acres
Property subtype
Commercial
Site & Location
Fenced Yard
Yes
Outdoor Storage
Yes
Taxes and HOA fees
Annual Taxes
$5,996
Building Details
Building Size
3,600 SF
Year Built
1950
Buildings
1
Construction
brick and steel
Listing Agency:
Epique Realty
Listed By:
Kyle Robinson · License #S62397000/475.163000
(319) 540-1002
Source:
Fishmangroup
Added: Oct 6
Changed: Oct 23
Last Checked: Oct 23 at 1:24PM
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 Epique Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This flex property in Milan, Illinois, contains approximately 3,600 square feet in a brick-and-steel building constructed in 1950. The heated shop has open-truss ceilings, multiple overhead doors, tubular infrared heat, LED lighting, floor drains, and a large water storage tank. Office space includes several private offices, reception, an employee locker room, a break room with cabinetry and stainless appliances, two bathrooms, and a utility and mechanical room.
The building occupies a corner parcel of nearly 0.4 acres. Its fully fenced, all-concrete yard extends around the structure and connects directly to the shop doors, providing outdoor space for parking, equipment staging, or storage. A covered entrance fronts the brick exterior.
The building occupies a corner parcel of nearly 0.4 acres. Its fully fenced, all-concrete yard extends around the structure and connects directly to the shop doors, providing outdoor space for parking, equipment staging, or storage. A covered entrance fronts the brick exterior.
Key Highlights
- Approximately 3,600‑square‑foot brick‑and‑steel building, constructed in 1950
- Nearly 0.4‑acre corner parcel with a fully fenced, all‑concrete yard
- Heated shop with open‑truss ceilings, multiple overhead doors, floor drains, and tubular infrared heat
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,773
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$595,460
$595.5K
Cap Rate 7%
$425,329
$425.3K
Cap Rate 9%
$330,811
$330.8K
Market Conditions
NOI Build-Up for 3,600 SF
Gross rent
$49.7K $13.80/SF
− Vacancy
−$3.9K −$1.08/SF
EGI
$45.8K $12.72/SF
− OpEx
−$16.0K −$4.45/SF
NOI
$29.8K $8.27/SF
Area
Rock Island County, IL
Vacancy
7.80%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
35.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$595,460
Cap Rate 7%
$425,329
Cap Rate 9%
$330,811
Alternative Uses
Best Use
Flex RnD
$425.3K
$372.2K – $496.2K
NOI $29,773 @ 7.0% cap · market cap 8.89%
Second Best
Industrial
$330.7K
$289.3K – $385.8K
NOI $23,147 @ 7.0% cap · market cap 6.91%
Theoretical Best
Healthcare Medical
$613.1K
$536.5K – $715.3K
NOI $42,917 @ 7.0% cap · market cap 12.81%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
330
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 61264, IL
10,157
Population
4,978
Households
2
Avg Household Size
47
Median Age
23%
College-Educated
91%
High-School Grad
68.9 sq mi
ZIP Area
147
Density / Sq Mi
$78,285
Median Household Income
$50,389
Median Earnings
$832
Median Rent
$147,700
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - A heated work area and a multi-room office suite combine within a brick-and-steel commercial building.
Where is this flex space located?
The property is located at 630 W 2ND Avenue Milan, IL.
What is the asking price?
The asking price for this property is $335,000.
What are key features of this property?
This property features: Approximately 3,600‑square‑foot brick‑and‑steel building, constructed in 1950; Nearly 0.4‑acre corner parcel with a fully fenced, all‑concrete yard; Heated shop with open‑truss ceilings, multiple overhead doors, floor drains, and tubular infrared heat
