Freestanding Brick Office
For Sale
$350,000
263 Madison Avenue, Wood River, IL 62095
Commercial Sale, Wood River, IL
Property Size1,563 SF
Lot Size0.60 Acres
Price / SF$223.93
Days on Market92
Property Features for 263 Madison Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Parking features
Parking Lot, Open
Subdivision
Not in a subdivision
Directions
Edwardsville Rd. to Madison Ave.
Standard status
Active
APN
19-2-08-27-05-105-026
Size
1,563 SF
Lot size
0.60 Acres
Taxes and HOA fees
Tax Year
2023
Tax Annual Amount
9165
Utilities
Utilities
Cable Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air, Gas (Cooling)
Water source
Public
Building Details
Year built
1994
Floors in Building
1
Building materials
Brick
Listing Agency:
Nester Realty
(618) 624-0400
Listed By:
Pat Schaeffer
(618) 567-4949
Added: Jul 22
Changed: Oct 18
Last Checked: Oct 21 at 10:06AM
MLS# 25008476
Copyright © 2026 Mid America Regional Information Systems, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
This freestanding brick office property contains 1,563 square feet and was built in 1994. The interior includes office areas, meeting rooms, and storage, with additional partially finished space below. An outbuilding provides separate workshop or storage capability. The property is currently used for meeting hall and office functions, and includes open parking with a dedicated parking lot.
Positioned on a corner in Wood River, the property has an average daily vehicle count of 12,300. Building systems include forced-air heating and central air conditioning with gas cooling. Public water and public sewer serve the property, and cable service is available.
Positioned on a corner in Wood River, the property has an average daily vehicle count of 12,300. Building systems include forced-air heating and central air conditioning with gas cooling. Public water and public sewer serve the property, and cable service is available.
Key Highlights
- 1,563‑square‑foot freestanding brick office building constructed in 1994
- Corner property with an average daily vehicle count of 12,300
- Meeting rooms, office areas, storage, and partially finished lower‑level space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,758
Cap Rate
7.07%
Suggested Prices Based on Cap Rates
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
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 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.
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Current Use
Location Intelligence
Trade Area within ½ mile
436
Businesses Nearby
Explore this area
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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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office building - Corner-site office property with meeting space, storage, and a partially finished lower level.
Where is this office building located?
The property is located at 263 Madison Avenue 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: 1,563‑square‑foot freestanding brick office building constructed in 1994; Corner property with an average daily vehicle count of 12,300; Meeting rooms, office areas, storage, and partially finished lower‑level space
