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    831 Broadway St Quincy, IL 62301
    Property profile & analytics

    831 Broadway St Quincy, IL 62301

    View on Map
    • Quadplexes
    • 3,108 SF
    Off-Market
    Property ID
    US28-3987766
    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

    • Quadplexes

    Property Details for 831 Broadway St

    Year built
    1880
    Property size
    3,108 SF
    Property type
    Quadplexes
    Property subtype
    Mixed-use properties

    Description

    Don’t judge a book by its cover – step inside this historic 4-unit building and uncover the charm and potential it offers! With over 17,000 vehicles passing daily, this property is perfectly positioned for both residential and commercial use. Zoned D2, it could serve as a business location while gen ... erating rental income from the additional units. Units A, B, and D are 1-bedroom apartments, while Unit C can function as a spacious 2-bedroom. High ceilings and large windows fill the interiors with natural light, showcasing the hardwood floors and unpainted original trim that preserve its timeless character. The fireplaces, though unused in years, add a touch of elegance to each unit. Bring your vision to this unique property and unlock its income potential. Whether you restore it as an investment property or create a mixed-use space, the possibilities are endless. The dollhouse view image highlights the incredible opportunities awaiting within. Don’t miss the chance to transform this diamond in the rough into something truly special! Dollhouse view photos show homes potential, AI generated.

    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
    Quincy
    County
    Adams
    State
    Illinois
    Longitude
    -91.4018923
    Latitude
    39.9360848

    Comparable in this City

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      Mixed-Use Property with Income Potential

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    • $1,399,999
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      Versatile Mixed-Use Commercial Property

      Multi-use property with warehouse, office, retail, and apartments.
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    • $70,000

      Adaptable Commercial Property in Quincy

      Versatile commercial property with potential for various business ventures.
      1130 S 6Th St, Quincy, IL 62301
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    • $110,000

      Quincy Duplex Investment Opportunity

      Up-and-down duplex in Quincy, Illinois, with income potential.
      1330 Spring St, Quincy, IL 62301
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    • $125,000
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      Quincy Triplex: Income Property

      Three-unit property generating $1,700 monthly income in Quincy, Illinois.
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    Similar Nearby for Sale

    • $1,399,999
      40,000 SF

      Mixed-Use Property with Income Potential

      Versatile property with warehouse, office, and apartment income potential.
      301 S 7Th St, Quincy, IL 62301
      View Details
    • $405,000
      7,390 SF

      Mixed-Use Property in Downtown Quincy

      Mixed-use property with income and value-add potential.
      700 Maine St, Quincy, IL 62301
      View Details
    • $1,399,999
      42,000 SF

      Versatile Mixed-Use Commercial Property

      Multi-use property with warehouse, office, retail, and apartments.
      301 S 7Th St, Quincy, IL 62301
      View Details
    • $70,000

      Adaptable Commercial Property in Quincy

      Versatile commercial property with potential for various business ventures.
      1130 S 6Th St, Quincy, IL 62301
      View Details
    • $110,000

      Quincy Duplex Investment Opportunity

      Up-and-down duplex in Quincy, Illinois, with income potential.
      1330 Spring St, Quincy, IL 62301
      View Details
    • $125,000
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      Quincy Triplex: Income Property

      Three-unit property generating $1,700 monthly income in Quincy, Illinois.
      1023-1025 Ohio St, Quincy, IL 62301
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      2,216 SF

      Mixed-Use Center Space Available

      13,500 SF space for lease in thriving mixed-use center.
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    • $0.41 SF/Yr
      2,190 SF

      Prime Commercial Land & Office Space

      High-traffic location, versatile space, rear parking.
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      Versatile Commercial Space for Lease

      Adaptable commercial space suitable for office, retail, or storage.
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      16,553 SF

      Versatile Commercial Space in Quincy

      Multi-use space suitable for retail, office, or storage.
      711 S Front St, Quincy, IL 62301
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      Downtown Commercial Space for Rent

      Versatile commercial space suitable for retail, office, or spa.
      130 N 5Th St, Quincy, IL 62301
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    • Contact for pricing

      Retail Spaces Available for Rent

      Retail spaces available for lease on Broadway Street.
      3140 Broadway St, Quincy, IL 62301
      View Details
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    Quincy, IL 62301
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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.

    More about this property
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