Listing Agency: Epique Realty Inc r***@gmail.com Show Phone

Listed By: Robert Bermes · License #471017546 Show Phone

Source: Compass

Added: May 27 Changed: Aug 8 Last Checked: Aug 8 at 7:46AM

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Investment Insights

Based on property information with market context.

This 18.9-acre property offers a mix of open space, mature trees, wooded areas, and a creek running along the land. A partially finished 36' x 40' shop/building is already in place, featuring 14' ceilings and two 12' x 12' overhead doors, creating a practical foundation for storage, workspace, equipment, or later customization.

The site sits on a paved road with convenient access to local amenities. Water and electrical are available near the main entrance off 8th Street West, and sewer service runs through the property to a nearby lift station. A second access point is also provided from Andalusia Road near the lift station, offering additional flexibility for movement across the property.

The layout provides multiple potential building locations while maintaining a private, natural setting. With utilities accessible and room to create a homesite, hobby farm setup, or recreational use, the property can support a range of owner-operator plans. It is located within the Rockridge School District and is described as being minutes from the Mississippi River corridor and the Quad Cities area. Schedule a private showing to review the building location options and site features firsthand.

Key Highlights

• 18.9‑acre property in Andalusia with mature trees, wooded areas, and a creek running along the land
• Partially finished 36' x 40' shop/building with 14' ceilings and two 12' x 12' overhead doors
• Water and electrical available near the main entrance off 8th Street

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

$11,243

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

6.81%

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%

$224,860 $224.9K

Cap Rate 7%

$160,614 $160.6K

Cap Rate 9%

$124,922 $124.9K

Market Conditions

NOI Build-Up for 1,440 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

$14.0K $9.72/SF

− Vacancy

−$770 −$0.53/SF

EGI

$13.2K $9.19/SF

− OpEx

−$2.0K −$1.38/SF

NOI

$11.2K $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 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%

$224,860

Cap Rate 7%

$160,614

Cap Rate 9%

$124,922

Alternative Uses

Best Use

Warehouse

$160.6K

$140.5K – $187.4K (±1% cap)

NOI $11,243 @ 7.0% cap · market cap 6.81%

Second Best

Industrial

$132.3K

$115.7K – $154.3K (±1% cap)

NOI $9,259 @ 7.0% cap · market cap 5.61%

Theoretical Best

Healthcare Medical

$245.2K

$214.6K – $286.1K (±1% cap)

NOI $17,167 @ 7.0% cap · market cap 10.40%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Property Profile

Current Use

Residential land & home ...

Suggested Use

Top Pick HVAC Service Auto Parts Store Storage Facility Grocery & Convenience Store (Bike/Boat/Book/etc) Store Bakery

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

14 ft

Clear height

2

Drive-in doors

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

44

Businesses Nearby

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

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this agricultural land / farmland located? What is the asking price? Find similar properties ... What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Agricultural land / Farmland - Generous acreage with a partially finished shop, overhead doors, and utility access for storage, work, or future development.

Where is this agricultural land / farmland located?

The property is located at 801 8th Street West Andalusia, IL.

What is the asking price?

The asking price for this property is $165,000.

What are key features of this property?

This property features: 18.9‑acre property in Andalusia with mature trees, wooded areas, and a creek running along the land; Partially finished 36' x 40' shop/building with 14' ceilings and two 12' x 12' overhead doors; Water and electrical available near the main entrance off 8th Street