706 18th Ave 5 Unit Apartment Building $360,000 ($72,000/Unit) 10.03% Cap Rate Moline, IL 61265

Marcus & Millichap is pleased to present 706 18th Ave, a fully leased mixed-use property located in Moline’s Olde Town District, just blocks from Lincoln-Irving Elementary School and around the corner from Olde Town Bakery. The property includes three two-bedroom residential apartments and two ground-floor commercial retail storefronts, positioned in an area with a mix of residential and commercial uses, as well as several nearby restaurants and bars. According to ownership, recent improvements include renovated residential units, select commercial interior improvements, and a newer roof.
The residential apartments have been recently updated and feature central heating and air conditioning, with one unit also offering an in-unit washer and dryer. The ground-floor commercial spaces provide street-level retail exposure, and one storefront has undergone recent interior improvements. Additional on-site amenities include a standalone 2.5-car garage, which is currently leased and generating supplemental income. All units are currently occupied, and the property has historically benefited from steady tenant demand and minimal turnover. Street parking is available for both residents and commercial patrons.
Moline is part of the Quad Cities metropolitan area, a regional economic hub with a population exceeding 400,000. The area supports a diverse economy led by manufacturing, logistics, healthcare, and education. Major employers such as John Deere, Genesis Health System, and UnityPoint Health contribute to local employment stability. Strategically located along the Mississippi River, the Quad Cities benefit from strong transportation infrastructure, including interstate highways, air travel, and rail access. These fundamentals support long-term demand for both residential and commercial space throughout the region.