Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3405 W BROADWAY Street Mt Vernon, IL 62864

    View on Map
    For Lease
    Contact for pricing

    COMMERCIAL - Mt Vernon, IL

    Added:
    Nov 13, 2025
    Days on Market:
    145
    Last Refresh:
    Apr 7 at 12:06 am

    Property Features for 3405 W BROADWAY Street Mt

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    B2
    Standard status
    Active
    APN
    06-36-126-007

    Taxes and HOA fees

    Tax Annual Amount
    14030

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Floors in Building
    1
    Building materials
    Brick, Frame
    Roof type
    Composition

    We can help!

    Listing Contact
    Andrea B Baker
    Andrea B Baker

    Listing agent Andrea B Baker License #471021927

    Listing office King City Property Brokers 1300 Salem Road, Mount Vernon, IL

    Listing date Nov 13, 2025

    MLS# EB460461

    Copyright © 2025 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Customizable Office Space on Broadway

    This commercial property in Mt Vernon, IL, offers 2500 sq. ft. of office space for lease. The location benefits from high visibility with an average daily traffic count exceeding 19,000 vehicles. The available suite features three glass-front offices facing Broadway, a large west-facing office, and a spacious conference room. Property access is located on the west side. Interior improvements, including flooring, paint, and lighting, are needed, allowing tenants to customize the space. The tenant is responsible for the buildout, enabling customization to suit specific business needs. This space is suitable for professional services, administrative offices, or a growing business seeking visibility.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office Units

    Map

    City
    Vernon
    County
    Marion
    State
    Illinois
    Longitude
    -88.9065
    Latitude
    38.3147

    Nearby Similar for Lease

    • Contact for pricing

      Updated Office Space Available

      Affordable office spaces with included utilities and common areas.
      815-9 BROADWAY Street unit: 9, Mt Vernon, IL 62864
      View Details
    • Contact for pricing

      Updated Office Spaces For Rent

      Individual office spaces available with utilities included in Mt Vernon.
      815-6 BROADWAY Street unit: 6, Mt Vernon, IL 62864
      View Details
    • Contact for pricing

      Downtown Commercial Suite for Lease

      Spacious downtown suite ideal for various business uses.
      118 N 9TH Street unit: B, Mt Vernon, IL 62864
      View Details
    • Contact for pricing

      Downtown Commercial Suite for Lease

      Spacious downtown suite ideal for various business uses.
      118 N 9TH Street unit: B, Mt Vernon, IL 62864
      View Details
    • Contact for pricing

      Updated Office Space For Rent

      Office spaces available with included utilities and common areas.
      815-3 BROADWAY Street unit: 3, Mt Vernon, IL 62864
      View Details
    • Contact for pricing

      Mt Vernon Office Space For Rent

      1,268 sq ft office space in medical complex.
      1009 S 42ND Street unit: Suite 5, Mt Vernon, IL 62864
      View Details
    • Contact for pricing

      Mt Vernon Office Space For Rent

      1,268 sq ft office space in medical complex.
      1009 S 42ND Street unit: Suite 1, Mt Vernon, IL 62864
      View Details
    • Contact for pricing

      Updated Office Space Available

      Four office spaces for rent with included utilities and amenities.
      815-4 BROADWAY Street unit: 4, Mt Vernon, IL 62864
      View Details
    • Contact for pricing

      Mt Vernon Office Space Available

      Office space with high visibility, previously a medical office.
      3307 BROADWAY Street unit: 130, Mt Vernon, IL 62864
      View Details
    • Contact for pricing

      Mt Vernon Office Space Available

      Office space in Mt Vernon, Illinois, suitable for medical use.
      4200 WILLIAMSON Place unit: 1A, Mt Vernon, IL 62864
      View Details
    • Contact for pricing

      Downtown Office Space in Mt Vernon

      Historic downtown Mt Vernon office space for rent.
      800 BROADWAY Street unit: 2, Mt Vernon, IL 62864
      View Details
    • Contact for pricing

      Prime Commercial Space Available

      Move-in ready office space in a high-traffic location.
      2801 BROADWAY Street unit: A, Mt Vernon, IL 62864
      View Details

    FAQs

    What type of property is this?
    Office units - High-visibility office space for lease in Mt Vernon, IL.
    Where is this office units located?
    The property is located at 3405 W BROADWAY Street Mt Vernon, IL.
    What are key features of this property?
    This property features: High‑traffic location with 19,000+ vehicles daily; Customizable 2500 sq. ft. office space; Affordable lease at $1,200/month
    (618) 315-1186
    We can help!
    Listing Contact
    Andrea B Baker
    Andrea B Baker
    Real Estate License ID: 471021927
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!