Modern Office and Medical
For Sale
$1,200,000
216 Evergreen Lane, Glen Carbon, IL 62034
Modern, finished space with polished concrete floors, private offices, and two ADA restrooms for office or medical use.
Property Size3,990 SF
Price / SF$300.75
Days on Market59
Property Features for 216 Evergreen Lane
General Information
Standard status
Active
Size
3,990 SF
Property subtype
Commercial
Additional Details
Highway Access
Yes
Building Details
Building Size
3,990 SF
Year Built
2018
Year Renovated
2020
Buildings
1
Stories
1
Listing Agency:
H3 Capital Real Estate, Llc
(618) 606-3829
Listed By:
Brendan Barone · License #475166300
(618) 606-3829
Source:
Exit2newbeginningz
Added: Jun 25
Changed: Aug 15
Last Checked: Aug 21 at 1:36PM
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 H3 Capital Real Estate, Llc
Investment Insights
Based on property information with market context.
Modern commercial building available for sale or lease in Magnolia Commons Business Park. The 3,990 SF property includes 2,030 SF currently available, finished in 2020. Interiors feature polished concrete floors, high ceilings, abundant natural light, and an open layout complemented by a private office. Two ADA-compliant restrooms support a range of professional uses.
The building is located on the Glen Carbon/Edwardsville border near Meridian Plaza. Access is described as easy to major interstate highways, with approximately 25 minutes to St. Louis.
The current configuration is well suited for office, medical office, professional services, or other studio and specialty retail concepts, given the combination of open work area, private office space, and ADA restroom facilities. The seller advises that buyer/tenant and their representatives verify all information including measurements, zoning, permitted use, expenses, and availability.
The building is located on the Glen Carbon/Edwardsville border near Meridian Plaza. Access is described as easy to major interstate highways, with approximately 25 minutes to St. Louis.
The current configuration is well suited for office, medical office, professional services, or other studio and specialty retail concepts, given the combination of open work area, private office space, and ADA restroom facilities. The seller advises that buyer/tenant and their representatives verify all information including measurements, zoning, permitted use, expenses, and availability.
Key Highlights
- Modern 3,990 SF commercial building (built 2018) in Magnolia Commons Business Park at 216 Evergreen Ln, Glen Carbon
- 2,030 SF available for lease at $22/SF NNN, with space finished in 2020
- Interior features polished concrete floors, high ceilings, abundant natural light, and an open layout
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
$63,202
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
5.27%
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%
$1,264,040
$1.3M
Cap Rate 7%
$902,886
$902.9K
Cap Rate 9%
$702,244
$702.2K
Market Conditions
NOI Build-Up for 3,990 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
$95.8K $24.00/SF
− Vacancy
−$11.5K −$2.88/SF
EGI
$84.3K $21.12/SF
− OpEx
−$21.1K −$5.28/SF
NOI
$63.2K $15.84/SF
Area
Madison County, IL
Vacancy
12.00%
Lease Rate
$24.00 /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%
$1,264,040
Cap Rate 7%
$902,886
Cap Rate 9%
$702,244
Alternative Uses
Best Use
Office B
$902.9K
$790.0K – $1.05M
NOI $63,202 @ 7.0% cap · market cap 5.27%
Second Best
Healthcare Medical
$679.5K
$594.6K – $792.8K
NOI $47,566 @ 7.0% cap · market cap 3.96%
Theoretical Best
Office A
$1.09M
$951.6K – $1.27M
NOI $76,129 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
563
Businesses Nearby
Explore this area
Business Placement
Demographics for 62034, IL
14,665
Population
6,197
Households
2.4
Avg Household Size
39
Median Age
49%
College-Educated
97%
High-School Grad
13.7 sq mi
ZIP Area
1,070
Density / Sq Mi
$93,366
Median Household Income
$53,030
Median Earnings
$1,100
Median Rent
$274,300
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.
Frequently Asked Questions
What type of property is this?
Office building - Modern, finished space with polished concrete floors, private offices, and two ADA restrooms for office or medical use.
Where is this office building located?
The property is located at 216 Evergreen Lane Glen Carbon, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Modern 3,990 SF commercial building (built 2018) in Magnolia Commons Business Park at 216 Evergreen Ln, Glen Carbon; 2,030 SF available for lease at $22/SF NNN, with space finished in 2020; Interior features polished concrete floors, high ceilings, abundant natural light, and an open layout
