Freestanding Flex
263 Madison Avenue Wood River, IL 62095
263 Madison Avenue, Wood River, IL, 62095
$350,000
For Sale
$350,000
LAND - Wood River, IL
Property Size1,563 SF
Lot Size0.60 Acres
Price / SF$223.93
Days on Market36
Property Features for 263 Madison Avenue
General Information
- Property type
- Land
- Property subtype
- Other
- Parking features
- Parking Lot, Open
- 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
- Gas (Cooling), Central Air
- 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 · License #475147098
(618) 567-4000
Added: Jun 17 Updated: Jul 22 at 12:34PM Checked: Jul 22 at 4:06PM
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.
Investment Insights
Based on property information with market context.
This full-brick, free-standing building sits on a corner lot and includes office space, meeting rooms, and ample storage. A partially finished lower level provides additional usable area. The property also features an outbuilding that can serve as a workshop or for extra storage.
The building is located in Wood River, IL on Madison Avenue. The property is described as being in a TIF and enterprise zone, with an average daily vehicle count listed at 12,300.
Currently, the space is used as a meeting hall and office space, and the layout is presented as suitable for a variety of business uses.
The building is located in Wood River, IL on Madison Avenue. The property is described as being in a TIF and enterprise zone, with an average daily vehicle count listed at 12,300.
Currently, the space is used as a meeting hall and office space, and the layout is presented as suitable for a variety of business uses.
Key Highlights
- Full‑brick, free‑standing building on a 1/2‑acre corner lot
- Office space plus meeting room(s; lower level is partially finished for additional room
- Outbuilding included for workshop or extra storage space
Local 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
Industrial
$92.3K
$80.7K – $107.6K
NOI $6,458 @ 7.0% cap · market cap 1.85%
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 local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
Similar Off Market Nearby
- Mother's Catering Services Inc — 333 N Wood River Ave, Wood River, IL 62095
FAQs
What type of property is this?
Flex space - Full-brick, free-standing building on a corner lot with office, meeting rooms, and storage space.
Where is this flex space 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: Full‑brick, free‑standing building on a 1/2‑acre corner lot; Office space plus meeting room(s; lower level is partially finished for additional room; Outbuilding included for workshop or extra storage space
