Brick Office Building with
For Sale
$499,000
2806 Godfrey Road, Godfrey, IL 62035
Commercial Sale, Godfrey, IL
Property Size2,000 SF
Lot Size0.23 Acres
Price / SF$249.50
Days on Market48
Property Features for 2806 Godfrey Road
General Information
Property type
Commercial Sale
Property subtype
Other
Appliances
Microwave, Electric Range, Refrigerator
Subdivision
Klunks Sub
Standard status
Active
APN
24-2-01-35-17-301-011
Lot size
0.23 Acres
Taxes and HOA fees
Tax Year
2016
Tax Description
KLUNKS SUBD LOT 2
Tax Annual Amount
2217
Legal Description
KLUNKS SUBD LOT 2
Utilities
Utilities
Water Available
Heating system
Forced Air, Natural Gas
Cooling system
Electric, Central Air
Water source
Public
Building Details
Year built
1940
Floors in Building
1
Building materials
Brick
Listing Agency:
Landmark Realty
(618) 466-1513
Listed By:
Jeffrey Harman
(618) 971-6655
Added: Aug 24
Changed: Oct 7
Last Checked: Oct 10 at 2:06AM
MLS# 26048753
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 brick office building provides 2,000 square feet of space across a main level and lower level. The main floor includes a reception area, four separate offices, and a bathroom. A new kitchen, bonus area, and additional storage are located downstairs, creating useful support space within the building. Appliances include a microwave, electric range, and refrigerator.
The property occupies 0.23 acres at 2806 Godfrey Road in Godfrey, Illinois. On-site parking is described as ample. Building systems include forced-air heating with natural gas and central air conditioning with electric service. The property was built in 1940 and has public water, with water available among the listed utilities.
The property occupies 0.23 acres at 2806 Godfrey Road in Godfrey, Illinois. On-site parking is described as ample. Building systems include forced-air heating with natural gas and central air conditioning with electric service. The property was built in 1940 and has public water, with water available among the listed utilities.
Key Highlights
- 2,000 square feet of office space
- Main level includes reception, 4 separate offices, and a bathroom
- Lower level features a new kitchen, bonus area, and additional storage
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,680
Cap Rate
6.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$633,600
$633.6K
Cap Rate 7%
$452,571
$452.6K
Cap Rate 9%
$352,000
$352.0K
Market Conditions
NOI Build-Up for 2,000 SF
Gross rent
$48.0K $24.00/SF
− Vacancy
−$5.8K −$2.88/SF
EGI
$42.2K $21.12/SF
− OpEx
−$10.6K −$5.28/SF
NOI
$31.7K $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%
$633,600
Cap Rate 7%
$452,571
Cap Rate 9%
$352,000
Alternative Uses
Best Use
Office B
$452.6K
$396.0K – $528.0K
NOI $31,680 @ 7.0% cap · market cap 6.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$545.1K
$477.0K – $636.0K
NOI $38,160 @ 7.0% cap · market cap 7.65%
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
441
Businesses Nearby
Explore this area
Business Placement
Demographics for 62035, IL
16,172
Population
7,145
Households
2.3
Avg Household Size
47
Median Age
33%
College-Educated
96%
High-School Grad
43.8 sq mi
ZIP Area
369
Density / Sq Mi
$91,696
Median Household Income
$51,693
Median Earnings
$1,158
Median Rent
$179,900
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 - Two-level office property with dedicated rooms, reception space, and lower-level support areas.
Where is this office building located?
The property is located at 2806 Godfrey Road Godfrey, IL.
What is the asking price?
The asking price for this property is $499,000.
What are key features of this property?
This property features: 2,000 square feet of office space; Main level includes reception, 4 separate offices, and a bathroom; Lower level features a new kitchen, bonus area, and additional storage
