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    1600 2Nd Ave Rock Island, IL 61201
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    1600 2Nd Ave, Rock Island, IL 61201

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    • Commercial real estate
    • 0.22 lot acres
    For Sale
    $285,000
    View Listing →
    Downtown Rock Island Three-Story Building For Sale
    $285,000
    41,600 SF

    Downtown Rock Island Three-Story Building

    Three-story building in downtown Rock Island with river views.

    1600 2nd Ave, Rock Island, IL
    View Listing
    Property ID
    US28-2216833
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Quad Cities Harm Reduction (QCHR) Syringe Access Program / Charitable Organization / Social Service Agency
    • Kinza Zenabu Piano Studio / Tutoring Service
    • Sound Conservatory / (Bike/Boat/Book/etc) Store

    Property Details for 1600 2Nd Ave

    Year built
    1920
    Lot size
    0.22 lot acres
    Property type
    Commercial real estate

    Description

    This exceptional investment opportunity presents a three-story, vacant office building situated in the heart of downtown Rock Island, Illinois. The property, located at 1600 2nd Avenue, boasts a substantial 41,280 square feet of space (approximate measurements), spread across three floors, each approximately 9,600 square feet, a 2,880 square foot mezzanine, and a 9,600 square foot basement. Built in 1920, this Class B building retains many of its original features, including a central staircase and original elevator, adding to its unique character and potential for adaptive reuse. The top floor offers stunning river views. Recent improvements include parapet wall repair and tuck pointing, demonstrating a commitment to maintaining the building's structural integrity. The property sits on a 0.22-acre lot and is zoned for mixed use, opening up a variety of development possibilities. The building is being sold "AS IS," providing an opportunity for buyers to customize and renovate to their specific needs and vision. This is a rare chance to acquire a significant piece of Rock Island's history and revitalize a prominent downtown location. The asking price is $150,000.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Rock Island
    County
    Rock Island
    State
    Illinois
    Longitude
    -90.5773966
    Latitude
    41.5104195

    Comparable in this City

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      29,000 SF

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      41,600 SF

      Downtown Rock Island Three-Story Building

      Three-story building in downtown Rock Island with river views.
      1600 2Nd Ave, Rock Island, IL 61201
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      37,030 SF

      Rock Island Center Mixed-Use Building

      37,030 SF mixed-use building in Downtown Rock Island.
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      4,800 SF

      Rock Island Office/Retail Space

      4,800 SF Office/Retail in Prime Location
      4014 Blackhawk Rd, Rock Island, IL 61201
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    • $400,000
      0.19 Acres

      Rock Island Commercial Land Opportunity

      Prime Retail Land, 22,500 SF Building
      1710 2Nd Ave, Rock Island, IL 61201
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    Similar Nearby for Sale

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      29,000 SF

      Rock Island Office Building

      29,000 SF office building for sale.
      1728 4Th Ave, Rock Island, IL 61201
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      41,600 SF

      Downtown Rock Island Three-Story Building

      Three-story building in downtown Rock Island with river views.
      1600 2Nd Ave, Rock Island, IL 61201
      View Details
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      37,030 SF

      Rock Island Center Mixed-Use Building

      37,030 SF mixed-use building in Downtown Rock Island.
      1730 2Nd Ave, Rock Island, IL 61201
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      4,800 SF

      Rock Island Office/Retail Space

      4,800 SF Office/Retail in Prime Location
      4014 Blackhawk Rd, Rock Island, IL 61201
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    • $400,000
      0.19 Acres

      Rock Island Commercial Land Opportunity

      Prime Retail Land, 22,500 SF Building
      1710 2Nd Ave, Rock Island, IL 61201
      View Details

    Similar Nearby for Lease

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      4,075 SF

      Rock Island Office Space Available

      4,075 SF office space for lease in Rock Island.
      1830 2Nd Ave, Rock Island, IL 61201
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      Rock Island Class B Office

      Class B office space available for lease in Rock Island.
      500 42Nd St, Rock Island, IL 61201
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      New Retail Space Available

      New construction retail space with high visibility and strong co-tenants.
      4200 Blackhawk Rd, Rock Island, IL 61201
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    • $3 SF/Yr
      22,500 SF

      Prime Rock Island Retail Space

      Historic building, 22,500 sq ft, fully vacant.
      1710 2Nd Ave, Rock Island, IL 61201
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      31,020 SF

      Rock Island Warehouse Space

      37,760 SF warehouse space available for lease.
      4300 81St Ave W, Rock Island, IL 61201
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      Retail Space Near Augustana College

      Retail/service space available immediately near Augustana College.
      4015 6Th Ave, Rock Island, IL 61201
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    Property Visit Statistics

    • Visits by month
      19.5k
    • Visitors by month
      9.7k
    • Avg Time on site
      318 min
    View Listing
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    Rock Island, IL 61201
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

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

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