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Medical Office Space For Sale

845 S Route 51, Forsyth, IL 62535

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For Sale

$1,499,000

7200 SF medical office on 1.28 acres, Forsyth, Illinois.

Property size:

7,200 SF

Lot size:

1.28 Acres

Price / SF:

$208/SF

HighLights

High‑visibility location directly off US Route 51 with over 20,000 vehicles per day.
Fully leased dual‑tenant facility with a pharmacy already in place.
7,200 square foot building on a 1.28‑acre parcel.
Parking lot with 75 spaces and a drive‑through for the pharmacy.
Medical office space includes a dual‑sided lobby, four restrooms, receptionist area, break room, office, nurse bullpen, lead X‑RAY room, and multiple exam rooms.
High demand area, ensuring low vacancy risk.

We can help!

Contact an agent

Tim Vieweg

For Sale

$1,499,000

7200 SF medical office on 1.28 acres, Forsyth, Illinois.

Property size:

7,200 SF

Lot size:

1.28 Acres

Price / SF:

$208/SF

Added:: Aug 1, 2024
Days on Market:: 705
Last Refresh:: Jun 30 at 2:41 am

Property Features for 845 S Route 51

General Information

Standard status: Active
Size: 7,200 SF
Lot size: 1.28 Acres

We can help!

Contact an agent

Tim Vieweg

Listing office Vieweg RE/Better Homes & Gardens Real Estate-Service First

Listing date Aug 1, 2024

Source Exprealty

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 Vieweg RE/Better Homes & Gardens Real Estate-Service First

HighLights

High‑visibility location directly off US Route 51 with over 20,000 vehicles per day.
Fully leased dual‑tenant facility with a pharmacy already in place.
7,200 square foot building on a 1.28‑acre parcel.
Parking lot with 75 spaces and a drive‑through for the pharmacy.
Medical office space includes a dual‑sided lobby, four restrooms, receptionist area, break room, office, nurse bullpen, lead X‑RAY room, and multiple exam rooms.
High demand area, ensuring low vacancy risk.

Overview

This 7200 square foot medical office building is for sale. Situated on a 1.28 acre parcel directly off of US Route 51 in Forsyth, Illinois, the property is a dual tenant facility. A local pharmacy is a current tenant. The property is located on a high visibility intersection with a traffic count of over 20,000 vehicles per day. The lot has a drive through for the pharmacy and a parking lot with 75 spaces. There is currently no vacancy in this facility with extremely high demand in the area. The space includes a dual sided lobby area, four restrooms, a receptionist area, break room, office, nurse bullpen area, a lead X-RAY room, and multiple exam rooms. Space B is built out as a pharmacy.

Local Financial Insights For Specialty Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$122.7k	$17.04
− Vacancy	−$9.8k	−$1.36
EGI	$112.9k	$15.68
− OpEx	−$28.2k	−$3.92
NOI	$84.7k	$11.76

7,200 SF · lease $17.04/SF/yr · vacancy 8.00% · expense 25.00%

Alternative Uses

Best Use

Specialty Retail

$1.21M

$1.06M – $1.41M (±1% cap)

NOI $84,655 @ 7.0% cap · market cap 5.65%

Second Best

Retail

$923.8K

$808.3K – $1.08M (±1% cap)

NOI $64,665 @ 7.0% cap · market cap 4.31%

Theoretical Best

—

same as Best Use

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

Property Profile Location Intelligence

Current Use by Public Records

Medical Office Space

Suggested Use

Location Insight

Map
Local Demand

City: Forsyth
County: Macon
State: Illinois
Longitude: -88.9556
Latitude: 39.9264

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Forsyth Medical Office Investment Opportunity

Fully leased medical office building for sale in Forsyth, Illinois.

845 US-51, Forsyth, IL 62535

View Details

For sale
Medical Office Space
IL
Forsyth
62535
845 S Route 51

What type of property is this?

Medical Office Space - 7200 SF medical office on 1.28 acres, Forsyth, Illinois.

Where is this medical office space located?

The property is located at 845 S Route 51 Forsyth, IL.

What is the asking price?

The asking price for this property is $1,499,000.

What are key features of this property?

This property features: High‑visibility location directly off US Route 51 with over 20,000 vehicles per day.; Fully leased dual‑tenant facility with a pharmacy already in place.; 7,200 square foot building on a 1.28‑acre parcel.