Medical Office Building For
For Sale
$559,000
675 E Snyder Dr, Decatur, IL 62526
Custom-built medical office in central business district, suitable for owner-occupancy.
Property Size3,224 SF
Lot Size0.35 Acres
Price / SF$173.39
Days on Market677
Property Features for 675 E Snyder Dr
General Information
Standard status
Active
Size
3,224 SF
Lot size
0.35 Acres
Taxes and HOA fees
Annual Taxes
$22,439
Listing Agency:
Brinkoetter REALTORS®
(217) 972-3322
Listed By:
Joe Doolin
(217) 972-3322
Source:
Exprealty
Added: Oct 4, 2024
Changed: Aug 8
Last Checked: Aug 8 at 2:32PM
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 Brinkoetter REALTORS®
Investment Insights
Based on property information with market context.
This custom-built commercial office building, designed for a medical business, is centrally located in a north business district, near restaurants and Decatur hospitals. The front portion of the building, comprising 3224 square feet, is currently configured as an OB-GYN practice with 6 patient rooms, two offices, a waiting room, a nurses station, an office bathroom, a customer bathroom, and a conference room. The current owner is open to renting this space from a new owner for a specified period. An additional 1240 square feet at the rear of the building, accessible via a private entrance, was designed as an income-generating space. This area is currently vacant and includes 3 patient rooms, a reception room, a bathroom, and a kitchen. Both the front and back offices are equipped with their own HVAC systems. The property is suitable for medical practices or healthcare-related businesses.
Key Highlights
- Custom‑built commercial office building designed for a medical business, ideal for medical professionals.
- Centrally located in a north business district, close to restaurants and Decatur Hospitals.
- Two separate office spaces (3224 sqft front & 1240 sqft rear) with private entrances and HVAC systems, offering flexibility for owner occupancy and rental income.
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
$25,592
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
4.58%
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%
$511,840
$511.8K
Cap Rate 7%
$365,600
$365.6K
Cap Rate 9%
$284,356
$284.4K
Market Conditions
NOI Build-Up for 3,224 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
$40.6K $12.60/SF
− Vacancy
−$6.5K −$2.02/SF
EGI
$34.1K $10.58/SF
− OpEx
−$8.5K −$2.65/SF
NOI
$25.6K $7.94/SF
Area
Macon County, IL
Vacancy
16.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
25.00%
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%
$511,840
Cap Rate 7%
$365,600
Cap Rate 9%
$284,356
Alternative Uses
Best Use
Office B
$365.6K
$319.9K – $426.5K
NOI $25,592 @ 7.0% cap · market cap 4.58%
Second Best
Healthcare Medical
$362.7K
$317.4K – $423.2K
NOI $25,389 @ 7.0% cap · market cap 4.54%
Theoretical Best
Specialty Retail
$541.5K
$473.8K – $631.8K
NOI $37,907 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 62526, IL
31,758
Population
16,425
Households
1.9
Avg Household Size
41
Median Age
20%
College-Educated
92%
High-School Grad
66.0 sq mi
ZIP Area
481
Density / Sq Mi
$48,222
Median Household Income
$39,048
Median Earnings
$785
Median Rent
$91,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Custom-built medical office in central business district, suitable for owner-occupancy.
Where is this medical office space located?
The property is located at 675 E Snyder Dr Decatur, IL.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Custom‑built commercial office building designed for a medical business, ideal for medical professionals.; Centrally located in a north business district, close to restaurants and Decatur Hospitals.; Two separate office spaces (3224 sqft front & 1240 sqft rear) with private entrances and HVAC systems, offering flexibility for owner occupancy and rental income.
