New Office Space
For Sale
Contact for pricing
5-25 Apex Dr, Highland, IL
Newly constructed office space near St. Joseph's Hospital.
Property Size1,855 SF
Lot Size0.35 Acres
Price / SF$140.05
Days on Market844
Property Features for 5-25 Apex Dr
General Information
Standard status
Active
Size
1,855 SF
Lot size
0.35 Acres
Property subtype
LAND
Listing Agency:
BARBERMurphy
(618) 420-2376
Listed By:
Collin Fischer
(618) 420-2376
Source:
Moodyscre
Added: Apr 18, 2024
Changed: Jul 10
Last Checked: Aug 9 at 6:51AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BARBERMurphy
Investment Insights
Based on property information with market context.
This is a newly constructed office space located in Apex Professional Park, less than 1/2 mile from the new St. Joseph's Hospital. The landlord is open to negotiating improvements. The property benefits from local and professional management. Large signage is available on both the building and the park sign. The property has a size of 1855 square feet and is located in Highland, IL.
Key Highlights
- Newly constructed office space.
- Located less than 1/2 mile from St. Joseph's Hospital.
- Landlord will negotiate improvements.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$22,114
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.51%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$442,280
$442.3K
Cap Rate 7%
$315,914
$315.9K
Cap Rate 9%
$245,711
$245.7K
Market Conditions
NOI Build-Up for 1,855 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$41.2K $22.20/SF
− Vacancy
−$4.3K −$2.33/SF
EGI
$36.9K $19.87/SF
− OpEx
−$14.7K −$7.95/SF
NOI
$22.1K $11.92/SF
Area
Madison County, IL
Vacancy
10.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$442,280
Cap Rate 7%
$315,914
Cap Rate 9%
$245,711
Alternative Uses
Best Use
Office B
$419.8K
$367.3K – $489.7K
NOI $29,383 @ 7.0% cap · market cap 11.31%
Second Best
Healthcare Medical
$315.9K
$276.4K – $368.6K
NOI $22,114 @ 7.0% cap · market cap 8.51%
Theoretical Best
Office A
$505.6K
$442.4K – $589.9K
NOI $35,393 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
482
Businesses Nearby
Explore this area
Business Placement
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office units - Newly constructed office space near St. Joseph's Hospital.
Where is this office units located?
The property is located at 5-25 Apex Dr Highland, IL.
What is the asking price?
The asking price for this property is $259,800.
What are key features of this property?
This property features: Newly constructed office space.; Located less than 1/2 mile from St. Joseph's Hospital.; Landlord will negotiate improvements.
