1729 5Th AveMoline, IL 61265

Property Details for 1729 5Th Ave

Year built

1905

Property type

Mixed-use properties

Property subtype

Retail space

Description

This exceptional mixed-use property at 1729 5th Avenue in Moline, Illinois, presents a compelling investment opportunity. Priced at $389,900, this offering boasts a substantial 10.04% cap rate and a healthy net operating income (NOI) of $39,161, reflecting a 100% occupancy rate. The property comprises two buildings on a 12,000 square foot lot, encompassing three attached retail spaces and a spacious four-bedroom loft apartment. Two commercial tenants have enjoyed long-term leases, exceeding 20 years. Built in 1905 and extensively renovated between 2016 and 2024, the property features newer furnaces and recently installed gutters. The property includes off-street parking and a separate stand-alone building. Located in the heart of downtown Moline, this corner lot property at the intersection of 5th Avenue and 18th Street is a designated stop on the city's historic tour, offering excellent visibility and foot traffic. The five units are currently fully occupied, providing immediate and consistent cash flow. This is a rare chance to acquire a prime downtown property with a proven track record of success and significant upside potential. The property's APN is 08-32-221-005. The zip code is 61265.

Location Insight

City

Moline

County

Rock Island

State

Illinois

Latitude

41.5078

Longitude

-90.5126

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