Freestanding Office and Meeting
263 E Madison Ave Wood River, IL 62095
For Sale
Contact for pricing
Full-brick building on a corner lot with office space, meeting rooms, and partially finished lower-level area.
Property Size1,563 SF
Lot Size0.50 Acres
Price / SF$223.93
Days on Market325
Property Features for 263 E Madison Ave
General Information
Standard status
Active
Size
1,563 SF
Lot size
0.50 Acres
Property subtype
OFFICE
Listing Agency:
Nester Realty | O'Fallon
(618) 567-4949
Listed By:
Pat Schaeffer · License #475147098
(618) 567-4949
Source:
Moodyscre
Added: Sep 9, 2025
Changed: Jul 29
Last Checked: Jul 29 at 11:31AM
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 Nester Realty | O'Fallon
Investment Insights
Based on property information with market context.
This full-brick, freestanding building sits on a half-acre corner lot and includes office space and meeting room(s), along with ample storage. The lower level is partially finished, providing additional usable space beyond the main level. An outbuilding on the property can be used as a workshop or for additional storage, supporting a range of operational needs. The property is currently used as a meeting hall and office space.
The site benefits from a high-traffic setting with an average daily vehicle count of 12,300, and it is located in a TIF and enterprise zone.
With its corner-lot location, dedicated meeting and office areas, and both interior and outbuilding storage options, the property is positioned for business uses that need flexible space within a compact footprint.
The site benefits from a high-traffic setting with an average daily vehicle count of 12,300, and it is located in a TIF and enterprise zone.
With its corner-lot location, dedicated meeting and office areas, and both interior and outbuilding storage options, the property is positioned for business uses that need flexible space within a compact footprint.
Key Highlights
- Full‑brick, free‑standing building on a 1/2‑acre corner lot
- Includes office space and meeting room(s)
- Partially finished lower level provides additional room
Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $37.5k | $24.00 |
| − Vacancy | −$4.5k | −$2.88 |
| EGI | $33.0k | $21.12 |
| − OpEx | −$8.3k | −$5.28 |
| NOI | $24.8k | $15.84 |
1,563 SF · lease $24.00/SF/yr · vacancy 12.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$353.7K
$309.5K – $412.6K
NOI $24,758 @ 7.0% cap · market cap 7.07%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$426.0K
$372.8K – $497.0K
NOI $29,822 @ 7.0% cap · market cap 8.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Office building - Full-brick building on a corner lot with office space, meeting rooms, and partially finished lower-level area.
Where is this office building located?
The property is located at 263 E Madison Ave Wood River, IL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Full‑brick, free‑standing building on a 1/2‑acre corner lot; Includes office space and meeting room(s); Partially finished lower level provides additional room
