Medical Office with Treatment
For Sale
$650,000
208 parkinson Street, Normal, IL 61761
A reception area, treatment rooms, offices, and restrooms provide a clinical configuration near Uptown Normal.
Property Size3,700 SF
Price / SF$175.68
Days on Market204
Property Features for 208 parkinson Street
General Information
Standard status
Active
Size
3,700 SF
Net Rentable
2,700 SF
Total Parking Spaces
11
Property subtype
Commercial
Zoning
COMMR
Additional Details
Condition
Move-in Ready
Taxes and HOA fees
Annual Taxes
$14,351
Building Details
Building Size
3,700 SF
Year Built
2010
Stories
1
Units
2
Listing Agency:
Keller Williams Revolution
Listed By:
Adrianne Cornejo · License #475170027
(309) 834-3400
Source:
Fishmangroup
Added: Apr 9
Changed: Oct 26
Last Checked: Oct 26 at 3:47AM
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 Keller Williams Revolution
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Investment Insights
Based on property information with market context.
Built in 2010, this medical office property has 3,700 square feet in total, including 2,700 sq ft of rentable space. The interior includes a reception area, four treatment rooms, two office areas, two restrooms, a large closet, and a break room with washer/dryer hookups. The property was previously used as a medical office.
Located at 208 Parkinson Street in Normal, the property is close to Uptown Normal. Eleven parking spaces are allotted to the property.
Located at 208 Parkinson Street in Normal, the property is close to Uptown Normal. Eleven parking spaces are allotted to the property.
Key Highlights
- 3,700 square feet in total, including 2,700 sq ft of rentable space
- Four treatment rooms, two office areas, and two restrooms
- Reception area, large closet, and break room with washer/dryer hookup
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,356
Cap Rate
6.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$887,120
$887.1K
Cap Rate 7%
$633,657
$633.7K
Cap Rate 9%
$492,844
$492.8K
Market Conditions
NOI Build-Up for 3,700 SF
Gross rent
$82.1K $22.20/SF
− Vacancy
−$8.2K −$2.22/SF
EGI
$73.9K $19.98/SF
− OpEx
−$29.6K −$7.99/SF
NOI
$44.4K $11.99/SF
Area
McLean County, IL
Vacancy
10.00%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$887,120
Cap Rate 7%
$633,657
Cap Rate 9%
$492,844
Alternative Uses
Best Use
Healthcare Medical
$633.7K
$554.5K – $739.3K
NOI $44,356 @ 7.0% cap · market cap 6.82%
Second Best
Office B
$632.7K
$553.6K – $738.2K
NOI $44,289 @ 7.0% cap · market cap 6.81%
Theoretical Best
Office A
$771.3K
$674.9K – $899.8K
NOI $53,990 @ 7.0% cap · market cap 8.31%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
702
Businesses Nearby
Well-served
Demand for This Use
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Business Placement
Demographics for 61761, IL
53,045
Population
22,037
Households
2.4
Avg Household Size
28
Median Age
52%
College-Educated
98%
High-School Grad
42.6 sq mi
ZIP Area
1,245
Density / Sq Mi
$66,642
Median Household Income
$28,606
Median Earnings
$976
Median Rent
$200,900
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Medical Office Space - A reception area, treatment rooms, offices, and restrooms provide a clinical configuration near Uptown Normal.
Where is this medical office space located?
The property is located at 208 parkinson Street Normal, IL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: 3,700 square feet in total, including 2,700 sq ft of rentable space; Four treatment rooms, two office areas, and two restrooms; Reception area, large closet, and break room with washer/dryer hookup
