Freestanding Brick Office
New
For Sale
$350,000
263 Madison Ave, Wood River, IL 62095
Corner-lot office property with meeting areas, storage, and a separate outbuilding for workshop or storage use.
Property Size1,563 SF
Lot Size0.50 Acres
Price / SF$223.93
Days on Market7
Property Features for 263 Madison Ave
General Information
Standard status
Active
Size
1,563 SF
Lot size
0.50 Acres
Building Details
Year Built
1994
Buildings
2
Construction
brick
Listing Agency:
Nester Realty
Listed By:
Pat Schaeffer · License #475147098
(618) 567-4949
Source:
Nations-network
Added: Sep 18
Last Checked: Sep 24 at 1:42PM
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
Investment Insights
Based on property information with market context.
Constructed in 1994, this freestanding full-brick office property occupies a 1/2-acre corner lot. The building includes dedicated office areas, meeting rooms, and substantial storage space, with additional partially finished area on the lower level. A separate outbuilding provides another enclosed space for workshop or storage functions. The property is currently used for office and meeting-hall purposes.
Located at 263 Madison Ave in Wood River, Illinois, the site records an average daily vehicle count of 12,300. Its corner positioning and exposure to a high-traffic setting support its existing office and meeting-oriented configuration.
Located at 263 Madison Ave in Wood River, Illinois, the site records an average daily vehicle count of 12,300. Its corner positioning and exposure to a high-traffic setting support its existing office and meeting-oriented configuration.
Key Highlights
- Full‑brick freestanding office building constructed in 1994
- Situated on a 1/2‑acre corner lot
- Office areas with meeting rooms and substantial storage space
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
$24,758
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
7.07%
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%
$495,160
$495.2K
Cap Rate 7%
$353,686
$353.7K
Cap Rate 9%
$275,089
$275.1K
Market Conditions
NOI Build-Up for 1,563 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
$37.5K $24.00/SF
− Vacancy
−$4.5K −$2.88/SF
EGI
$33.0K $21.12/SF
− OpEx
−$8.3K −$5.28/SF
NOI
$24.8K $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%
$495,160
Cap Rate 7%
$353,686
Cap Rate 9%
$275,089
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
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Current Use
Location Intelligence
Trade Area within ½ mile
475
Businesses Nearby
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Business Placement
Demographics for 62095, IL
11,060
Population
5,186
Households
2.1
Avg Household Size
40
Median Age
16%
College-Educated
94%
High-School Grad
7.1 sq mi
ZIP Area
1,558
Density / Sq Mi
$66,641
Median Household Income
$41,932
Median Earnings
$919
Median Rent
$106,700
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?
Office building - Corner-lot office property with meeting areas, storage, and a separate outbuilding for workshop or storage use.
Where is this office building located?
The property is located at 263 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 freestanding office building constructed in 1994; Situated on a 1/2‑acre corner lot; Office areas with meeting rooms and substantial storage space
