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    1729 5Th Avenue Pl Moline, IL 61265-1371

    Sponsored
    For Sale
    $389,900

    Downtown Moline investment opportunity. High rental income.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents the chance to acquire the renowned Knox Building, a meticulously maintained mixed-use property situated at the prime intersection of 5th Avenue and 18th Street in the heart of downtown Moline, Illinois. Built in 1905, this landmark building boasts a rich history and has recently undergone renovations, seamlessly blending historic charm with modern amenities. The property comprises two buildings: a main building featuring three ground-floor commercial spaces currently leased to long-term tenants (two of whom have occupied the space for over 20 years), and a four-bedroom loft apartment occupying the entire second floor. A separate, standalone commercial space is also included. The property offers off-street parking for tenants and customers, adding to its appeal. Recent upgrades include newer furnaces and gutters. The building's location on a historic tour route ensures high visibility and foot traffic, making it an ideal location for both retail and residential tenants. The projected annual income exceeds $67,000, providing a strong cash flow and a solid return on investment. This is a rare opportunity to own a piece of Moline's history while enjoying a stable and profitable investment. The asking price is $389,900. The property is zoned for commercial and multifamily use, and includes one residential unit.

    Property Features for 1729 5Th Avenue Pl

    General Information

    Property type
    Multifamily properties

    Building Details

    Year Built
    1905
    Buildings
    2
    Units
    1

    HighLights

    • $389,900 asking price.
    • Mixed‑use property with three commercial units and one four‑bedroom residential loft apartment.
    • Two buildings on a single lot, located at 1729 5th Avenue, Moline, IL 61265‑1371.
    • Built in 1905, recently renovated.
    • Excellent downtown Moline location with high visibility and access.
    • Projected annual income exceeding $67,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Small apartment buildings

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Moline
    County
    Rock Island
    State
    Illinois
    Longitude
    -90.4974359
    Latitude
    41.4902075

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    FAQs

    What type of property is this?
    Multifamily property - Downtown Moline investment opportunity. High rental income.
    Where is this multifamily property located?
    The property is located at 1729 5Th Avenue Pl Moline, IL.
    What is the asking price?
    The asking price for this property is $389,900.
    What are key features of this property?
    This property features: $389,900 asking price.; Mixed-use property with three commercial units and one four-bedroom residential loft apartment.; Two buildings on a single lot, located at 1729 5th Avenue, Moline, IL 61265-1371.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1729 5Th Avenue Pl Moline, IL 61265-1371
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