Building Details

Year Built 1985

Stories 1

Tenancy Multi

Listing Agency: Coldwell Banker Commercial Devonshire Realty

Listed By: Nick Ragle · License #IL 475.201147 Show Phone

Source: Crexi

Added: Jun 13, 2024 Changed: Sep 20 Last Checked: Oct 4 at 8:17AM

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Investment Insights

Based on property information with market context.

This freestanding healthcare facility offers 7,500 square feet of space. The interior is divided into 16 private treatment or exam rooms, 9 private offices, 3 nursing stations, a lab, a reception area, and a breakroom/bonus area on the second level. A portion of the property, utilizing 1,841 square feet, is currently leased out. The property allows for multiple tenancies with separate client entrances and receiving areas, or it can be used by a single owner/occupier. Situated across two parcels, the property includes ample parking and adjacent development ground, expanding the total land area to 4 acres. This additional land offers potential for future expansion or development opportunities. Located 9 miles southeast of Decatur, IL, along the main arterial roadway of Mount Zion, the property has optimal accessibility and visibility. It is positioned within the heart of Mount Zion’s commercial district and surrounded by residential neighborhoods.

Key Highlights

• Premium healthcare facility with freestanding design and 7,500 sq ft of space.
• Located on 4 acres, including adjacent development ground for future expansion.
• Versatile space suitable for single owner/occupier or multiple tenancies with separate entrances.

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$59,063

Cap Rate

6.06%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,181,260 $1.2M

Cap Rate 7%

$843,757 $843.8K

Cap Rate 9%

$656,256 $656.3K

Market Conditions

NOI Build-Up for 7,500 SF

Gross rent

$112.5K $15.00/SF

− Vacancy

−$14.1K −$1.88/SF

EGI

$98.4K $13.13/SF

− OpEx

−$39.4K −$5.25/SF

NOI

$59.1K $7.88/SF

Area

Macon County, IL

Vacancy

12.50%

Lease Rate

$15.00 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,181,260

Cap Rate 7%

$843,757

Cap Rate 9%

$656,256

Alternative Uses

Best Use

Healthcare Medical

$843.8K

$738.3K – $984.4K (±1% cap)

NOI $59,063 @ 7.0% cap · market cap 6.06%

Second Best

—

—

no second resolved use

Theoretical Best

Specialty Retail

$1.26M

$1.10M – $1.47M (±1% cap)

NOI $88,182 @ 7.0% cap · market cap 9.04%

Zoning and permitted uses should be independently verified with authorities.

Property Analytics

Current Use

Medical centers

Location Intelligence

Trade Area within ½ mile

6

Businesses Nearby

Explore this area Business Placement

Demographics for 62549, IL

6,282

Population

2,554

Households

2.5

Avg Household Size

41

Median Age

31%

College-Educated

98%

High-School Grad

8.1 sq mi

ZIP Area

776

Density / Sq Mi

$109,350

Median Household Income

$52,835

Median Earnings

$696

Median Rent

$186,800

Median Home Value

Questions? Ask Rey

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What type of property is this? Where is this medical centers located? What is the asking price? Find similar properties What are key features of this property?

Frequently Asked Questions

What type of property is this?

Medical center - Freestanding 7,500 SF healthcare facility in Mount Zion, Illinois.

Where is this medical center located?

The property is located at 1200 IL-121 Mount Zion, IL.

What is the asking price?

The asking price for this property is $975,000.

What are key features of this property?

This property features: Premium healthcare facility with **freestanding design and 7,500 sq ft of space.**; Located on **4 acres, including adjacent development ground** for future expansion.; Versatile space suitable for single owner/occupier or multiple tenancies with separate entrances.