Building Details

Building Size 1,232 SF

Year Built 1955

Buildings 1

Listed By: Candace Whiting Show Phone

Source: Realestatepeoria

Added: Jul 10 Changed: Oct 7 Last Checked: Oct 7 at 8:47AM

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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 Candace Whiting

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Investment Insights

Based on property information with market context.

This property offers office use with a configuration suited to an owner-occupant or small business, set on a large lot designed for substantial on-site parking. The listing notes visibility and accessibility for day-to-day operations.

Located at 201 N Court Street in Marion, Illinois, the site is in the Hub TIF. According to the provided remarks, the Hub TIF includes an annual grant qualification for exterior improvements.

The current offering is presented for sale, with the remarks also indicating the opportunity to lease, depending on the buyer’s or tenant’s plans.

Key Highlights

• Year built: 1955
• Large lot with plenty of on‑site parking for customers and staff
• Suitable for an office space, car lot, or small business use

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$13,638

Cap Rate

8.03%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$272,760 $272.8K

Cap Rate 7%

$194,829 $194.8K

Cap Rate 9%

$151,533 $151.5K

Is this asking price fair?

Market Conditions

NOI Build-Up for 1,232 SF

Gross rent

$22.2K $18.00/SF

− Vacancy

−$4.0K −$3.24/SF

EGI

$18.2K $14.76/SF

− OpEx

−$4.5K −$3.69/SF

NOI

$13.6K $11.07/SF

Area

Williamson County, IL

Vacancy

18.00%

Lease Rate

$18.00 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$272,760

Cap Rate 7%

$194,829

Cap Rate 9%

$151,533

Alternative Uses

Best Use

Office B

$194.8K

$170.5K – $227.3K (±1% cap)

NOI $13,638 @ 7.0% cap · market cap 8.03%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$259.7K

$227.3K – $303.0K (±1% cap)

NOI $18,181 @ 7.0% cap · market cap 10.70%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Office Units

Suggested Use

Top Pick Dental Office Parking Lot & Garage Skin Care Clinic (Bike/Boat/Book/etc) Store Computer & Electronic Repair Locksmith

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

729

Businesses Nearby

Explore this area Business Placement

Demographics for 62959, IL

27,629

Population

12,997

Households

2.1

Avg Household Size

43

Median Age

28%

College-Educated

92%

High-School Grad

143.0 sq mi

ZIP Area

193

Density / Sq Mi

$69,914

Median Household Income

$44,145

Median Earnings

$895

Median Rent

$166,200

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Office unit - Office-focused property on a large lot with ample on-site parking, positioned in Marion’s Hub TIF.

Where is this office unit located?

The property is located at 201 N Court Street Marion Marion, IL.

What is the asking price?

The asking price for this property is $169,900.

What are key features of this property?

This property features: Year built: 1955; Large lot with plenty of on‑site parking for customers and staff; Suitable for an office space, car lot, or small business use