$550,000 1,280 SF

1856 E Broadway, Alton, IL 62002
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This exceptional Alton, IL commercial property presents a unique investment opportunity. Located at 1856 E Broadway, the property encompasses a well-established restaurant storefront sharing a common storage area with a separate warehouse currently leased month-to-month to a long-term tenant. The sale includes all commercial buildings and the one-acre lot. Furniture and fixtures are excluded from the sale. The property offers significant potential for rental income, with estimates exceeding $7,500 per month from the storefronts alone. The existing tenant provides immediate cash flow. The property's versatility allows for various business ventures or expansion opportunities. Note that this listing is for the commercial buildings and land only. A separate, attractive 2,400 square foot home with three bedrooms and three bathrooms, a fenced backyard, and an above-ground swimming pool, located behind the commercial buildings (MLS #24064401), is available for purchase at an additional cost of $225,000. This home can be purchased with or prior to the commercial property. This is a rare chance to acquire a substantial commercial property with strong rental income potential and the option to expand your investment with a desirable residential property. The asking price for the commercial property is $659,900.

Property type Commercial real estate

Use group COMMERCIAL (GENERAL)

Year built 1947

Construction MASONRY/CONCRETE MASONRY UNITS (CMUS)

Total area 1,280 SF

Lot 1 ac (43,560 SF)

APN 23-1-08-18-09-201-001

UPID US28-1496416

Implied cap rate, NOI & suggested price

Cap rate vs submarket · NOI estimate · 3 price anchors

Restaurant

1856 E Broadway Alton, IL 62002

Alton metro Census 402600 ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

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CAP Approach CAP

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Comparable Approach Comparable

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Blend (final) Blend

$205k

since 2026

3 recorded transactions

2026

$215,000

2025

Price N/A

2025

Price N/A

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6 recent transactions · within 1.5 mi

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