501 13Th St Quincy, IL 62301
- Commercial real estate
- 5,057 SF
Current Use by Public Records
- Commercial real estate
Property Details for 501 13Th St
- Property size
- 5,057 SF
- Property type
- Commercial real estate
Description
This exceptional Quincy, IL property offers a unique blend of commercial and residential income streams. The main building, a beautifully maintained Victorian-style structure, features a thriving salon and day spa with potential for up to five stations. Modern updates include new vinyl windows, two gas furnaces and AC units with smart thermostats (installed in 2023), and luxury vinyl flooring. The main building also includes four bedrooms (one a spa room), one and a half bathrooms, and high ceilings. The upstairs, accessible and lockable separately, offers a full kitchen and bath. A charming carriage house provides a second, studio-style short-term rental unit with a full kitchen, bathroom, and washer/dryer, also featuring a gas furnace, mini-split AC, and luxury vinyl flooring. Both rental units boast steady bookings. The property sits on a 0.18-acre lot and totals 5,057 square feet across two buildings and two stories. The property is zoned multi-family residential with a transferable special use permit for the salon and spa. With a strong NOI of $43,881 and an 11.58% cap rate, this turnkey investment opportunity presents a significant return on investment. Asking price is $379,000.
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
- Quincy
- County
- Adams
- State
- Illinois
- Longitude
- -91.3954273
- Latitude
- 39.9370938
