For Sale
Contact for pricing
612 35th Ave, Moline, IL 61265
Medical Office Space
Property Size4,505 SF
Price / SF$155.38
Days on Market672
Property Features for 612 35th Ave
General Information
Standard status
Active
Size
4,505 SF
Class
B
Property subtype
Office
Zoning
O-1
Occupancy
100%
Lease Type
NN
Building Details
Buildings
1
Stories
1
Tenancy
Single
Listing Agency:
The Hawkeye Group
(563) 355-4000
Listed By:
David Levin
Source:
Crexi
Added: Oct 18, 2024
Changed: Aug 7
Last Checked: Aug 17 at 2:42PM
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 The Hawkeye Group
Investment Insights
Based on property information with market context.
Key Highlights
- Fully finished lower level offers additional space.
- Welcoming reception area.
- Comfortable waiting area for clients or guests.
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
$53,706
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
7.67%
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%
$1,074,120
$1.1M
Cap Rate 7%
$767,229
$767.2K
Cap Rate 9%
$596,733
$596.7K
Market Conditions
NOI Build-Up for 4,505 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
$100.0K $22.20/SF
− Vacancy
−$10.5K −$2.33/SF
EGI
$89.5K $19.87/SF
− OpEx
−$35.8K −$7.95/SF
NOI
$53.7K $11.92/SF
Area
Rock Island County, IL
Vacancy
10.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
40.00%
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%
$1,074,120
Cap Rate 7%
$767,229
Cap Rate 9%
$596,733
Alternative Uses
Best Use
Healthcare Medical
$767.2K
$671.3K – $895.1K
NOI $53,706 @ 7.0% cap · market cap 7.67%
Second Best
Office B
$542.1K
$474.4K – $632.5K
NOI $37,950 @ 7.0% cap · market cap 5.42%
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
Where is this medical office space located?
The property is located at 612 35th Ave Moline, IL.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Fully finished lower level offers additional space.; Welcoming reception area.; Comfortable waiting area for clients or guests.
