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

    141 Market Pl Fairview Heights, IL 62208

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Class B office suites for lease near I-64.

    Property size:
    5,144 SF
    Lot size:
    5,144 SF

    Property Features for 141 Market Pl

    General Information

    Standard status
    Active
    Size
    5,144 SF

    We can help!

    Listing Contact
    Kori Gibbons
    Source: Cbre

    Listing Agent: Kori Gibbons

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Fairview Heights Office Suites Available

    This is a two-story, Class B office building featuring an attractive two-story atrium. Three suites are available: Suite 106 offers 3,161 square feet, Suite 150 provides 864 square feet, and Suite 180 encompasses 5,144 square feet. Parking is available at a ratio of 4 spaces per 1,000 square feet. The property benefits from a convenient location near I-64 and Route 159, and is close to St. Clair Square, banking facilities, and restaurants.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Law Firm Restaurant Real Estate Agency Spa & Massage Center Dental Office Hair Salon Nail Salon Food Market Grocery & Convenience Store Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fairview Heights
    County
    St. Clair
    State
    Illinois
    Longitude
    -90.0039
    Latitude
    38.5952

    Nearby Similar for Lease

    • $21 SF/Yr
      4,732 SF

      Renovated Office Suite with Views

      Turnkey 4,723 SF office suite with abundant natural light.
      16 Executive Dr, Fairview Heights, IL
      View Details
    • $12 SF/Yr
      9,979 SF

      Office/Flex Space For Rent

      Office and flex spaces available in Fairview Heights, Illinois.
      13 Executive Dr, Fairview Heights, IL
      View Details
    • $14 SF/Yr
      5,144 SF

      Fairview Heights Office Suites Available

      Class B office building with suites for lease near I-64.
      141 Market Pl, Fairview Heights, IL
      View Details
    • Contact for pricing
      16,500 SF

      Retail Space Near St. Clair Square

      Retail space available near I-64 and St. Clair Square Mall.
      120 Commerce Ln, Fairview Heights, IL
      View Details
    • Contact for pricing

      Fairview Heights Retail Space Available

      Retail spaces for lease in established Fairview Heights shopping center.
      67 Ludwig Dr, Fairview Heights, IL
      View Details
    • Contact for pricing
      79,312 SF

      St. Clair Square Retail Opportunity

      Former Sears box available for lease in Fairview Heights.
      101-315 Saint Clair Sq, Fairview Heights, IL
      View Details
    • Contact for pricing
      2,476 SF

      Retail Space in Fairview Heights

      Retail spaces available in Schnucks-anchored shopping center on Lincoln Highway.
      525 Lincoln Hwy, Fairview Heights, IL
      View Details
    • Contact for pricing
      1,680 SF

      Fairview Heights Retail Opportunity

      Retail spaces available in established Fairview Heights shopping center.
      55-81 Ludwig Dr, Fairview Heights, IL
      View Details
    • Contact for pricing
      108 SF

      Professional Office Spaces For Lease

      Professional office spaces for lease with updated common areas.
      10314 Lincoln Trl, Fairview Heights, IL
      View Details
    • Contact for pricing
      9,024 SF

      Fairview Heights Retail Building

      9,024 SF retail building available for sale or lease.
      10231 Lincoln Trl, Fairview Heights, IL
      View Details
    • Contact for pricing
      2,000 SF

      Retail Space in Fairview Heights

      2000 SF retail space with excellent visibility and access.
      5909-5961 N Illinois St, Fairview Heights, IL 62232
      View Details
    • Contact for pricing
      1,950 SF

      Retail Space with Drive-Thru Potential

      Retail spaces available in top-ranked Fairview Heights power center.
      5909 N Illinois St, Fairview Heights, IL 62232
      View Details

    FAQs

    What type of property is this?
    Office building - Class B office suites for lease near I-64.
    Where is this office building located?
    The property is located at 141 Market Pl Fairview Heights, IL.
    What are key features of this property?
    This property features: - Convenient location near I-64/Route 159; - Attractive two story atrium; - Three suites available (3,161 SF, 864 SF, 5,144 SF)
    (314) 655-6034
    Request Owner's contact information
    141 Market Pl Fairview Heights, IL 62208
    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.
    141 Market Pl
    Fairview Heights, IL 62208
    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
    141 Market Pl Fairview Heights, IL 62208
    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

    We can help!
    Listing Contact
    Kori Gibbons
    (314) 655-6034 (314) 655-6000
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!