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    2104 36Th St Rock Island, IL 61201
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    Property profile & analytics

    2104 36Th St Rock Island, IL 61201

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    • Commercial real estate
    • 3,376 SF
    Off-Market
    Property ID
    US28-5900605
    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

    • Commercial real estate

    Property Details for 2104 36Th St

    Year built
    1956
    Property size
    3,376 SF
    Property type
    Commercial real estate
    APN
    16-01-443-002

    Description

    This well-maintained four-unit apartment building presents a compelling investment opportunity in Rock Island, Illinois. Located at 2104 36th Street, this brick structure boasts a total of 3,376 square feet and offers ample parking with eight spaces, including covered off-street parking and convenient on-street options. Built in 1956, the property features four units, each equipped with two bedrooms, a full bathroom, a spacious living room, and a large eat-in kitchen. Residents enjoy shared laundry facilities and individual private storage located in the basement. Recent improvements include a roof replacement (on the building and garage) within the last two years, and updated siding on the carport. The property's strong financial performance is evidenced by a Net Operating Income (NOI) of $23,194, making it an attractive addition to any investment portfolio. The asking price is $292,500, and the property's APN is 16-01-443-002. This property is situated in Rock Island County, Illinois, with a zip code of 61201. Its prime location and desirable features make it an excellent choice for both seasoned investors and those new to the multifamily market. The property's solid construction and recent updates ensure minimal maintenance needs, maximizing potential returns. This is a turnkey investment ready for immediate income generation.

    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
    -90.5501864
    Latitude
    41.4891793

    Comparable in this City

    • $2,900,000
      42,000 SF

      Rock Island Apartment Community

      48-unit apartment community in Rock Island, Illinois.
      1103 25Th St, Rock Island, IL 61201
      View Details
    • $94,900

      Rock Island Redone Duplex

      Completely redone duplex, potential for conversion to single-family home.
      801 41St St, Rock Island, IL 61201
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    • $79,900
      Pending

      Turnkey Multifamily Property in Rock Island

      Fully occupied duplex in Rock Island with recent upgrades.
      1600 9Th St, Rock Island, IL 61201
      View Details
    • Contact for pricing
      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

    Similar Nearby for Sale

    • $2,900,000
      42,000 SF

      Rock Island Apartment Community

      48-unit apartment community in Rock Island, Illinois.
      1103 25Th St, Rock Island, IL 61201
      View Details
    • $94,900

      Rock Island Redone Duplex

      Completely redone duplex, potential for conversion to single-family home.
      801 41St St, Rock Island, IL 61201
      View Details
    • $79,900
      Pending

      Turnkey Multifamily Property in Rock Island

      Fully occupied duplex in Rock Island with recent upgrades.
      1600 9Th St, Rock Island, IL 61201
      View Details
    • Contact for pricing
      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

    Similar Nearby for Lease

    • Contact for pricing
      1,271 SF

      Downtown Rock Island Office Space

      Office suites available for lease in downtown Rock Island.
      224 18Th St, Rock Island, IL 61201
      View Details
    • $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
      View Details
    • Contact for pricing

      New Retail Space Available

      New construction retail space with high visibility and strong co-tenants.
      4200 Blackhawk Rd, Rock Island, IL 61201
      View Details
    • Contact for pricing
      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
      View Details
    • Contact for pricing
      37,760 SF

      Rock Island Warehouse Space

      37,760 SF warehouse space available for lease.
      4300 81St Ave W, Rock Island, IL 61201
      View Details
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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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