415 15Th Street Pl Moline, IL 61265
- Commercial real estate
- 7,167 SF
- 0.09 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 415 15Th Street Pl
- Year built
- 1891
- Lot size
- 0.09 lot acres
- Property size
- 7,167 SF
- Property type
- Commercial real estate
Description
This exceptional commercial property at 415 15th Street in Moline, Illinois, presents a unique investment opportunity. The property encompasses two buildings, the original G.M. Ford building constructed in 1891 and an adjacent structure built in 1901, totaling approximately 7,167 square feet above grade on a 0.09-acre lot. A complete renovation in 2003-2004 transformed the space, featuring a full basement and a first floor currently configured as a restaurant. A partial mezzanine adds to the versatile layout. Adding to the income stream, two apartments – a one-bedroom and a recently renovated two-bedroom – generate approximately $26,000 in annual rental income. The property benefits from its prime downtown Moline location, with a large public parking lot and parking ramp directly across the street, ensuring convenient access for tenants and patrons. The building boasts a newer TPO roof. The property is also available for lease at a modified gross rate of $5,000 per month. The seller is facilitating a 1031 exchange, and buyer cooperation is expected at no additional cost to the buyer. This is a rare chance to acquire a piece of Moline's history with significant income potential and a desirable downtown location. The asking price is $569,000.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Moline
- County
- Rock Island
- State
- Illinois
- Longitude
- -90.5168
- Latitude
- 41.5065
