Office Redevelopment
2911 N Center St Maryville, IL 62062
2911 N Center St, Maryville, IL, 62062
$399,000
For Sale
$399,000
Existing 2,200 SF office home on a 7.23-acre wooded site requires interior rehab and offers commercial redevelopment opportunities.
Property Size2,200 SF
Lot Size7.23 Acres
Price / SF$181.36
Days on Market62
Property Features for 2911 N Center St
General Information
- Standard status
- Active
- Size
- 2,200 SF
- Lot size
- 7.23 Acres
Listing agency
Kunkel Wittenauer Group, Inc
(618) 632-8200
Listed by
Renee Wittenauer · License #471018432
(618) 632-8200
Source
Exprealty
Added: May 22 Updated: Jul 21 at 11:03PM Checked: Jul 21 at 11:03PM
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 Kunkel Wittenauer Group, Inc
Investment Insights
Based on property information with market context.
The property features an existing 2,200 SF building that would need interior rehabilitation to support an office or other commercial use. The seller notes the space may be renovated to conform to the buyer’s intended use, or the site may be redeveloped. The property is located on a 7.23-acre wooded lot with 1.5+ acres described as level to slightly sloping, providing room for additional buildings or redevelopment.
Signage along Highway 159 is noted as directing visitors to a space that is not visible from 159, with the setting described as a quieter town-and-country environment. The property is described as easily accessible from all directions, located between Interstates 55 and 270.
The site is described as being on well and septic, but the buyer will be required to install new water line and sewer line per the Village of Maryville, including running and connecting water and sewer to the site.
Signage along Highway 159 is noted as directing visitors to a space that is not visible from 159, with the setting described as a quieter town-and-country environment. The property is described as easily accessible from all directions, located between Interstates 55 and 270.
The site is described as being on well and septic, but the buyer will be required to install new water line and sewer line per the Village of Maryville, including running and connecting water and sewer to the site.
Key Highlights
- 2,200 SF existing home on a 7.23‑acre wooded lot; interior rehab required.
- Property is zoned commercial, opening it to uses not previously approved under residential use.
- On well and septic, but buyer must install new water line and sewer line per the Village of Maryville.
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 | $52.8k | $24.00 |
| − Vacancy | −$6.3k | −$2.88 |
| EGI | $46.5k | $21.12 |
| − OpEx | −$11.6k | −$5.28 |
| NOI | $34.8k | $15.84 |
2,200 SF · lease $24.00/SF/yr · vacancy 12.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$497.8K
$435.6K – $580.8K
NOI $34,848 @ 7.0% cap · market cap 8.73%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$599.7K
$524.7K – $699.6K
NOI $41,976 @ 7.0% cap · market cap 10.52%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Office buildings
FAQs
What type of property is this?
Office building - Existing 2,200 SF office home on a 7.23-acre wooded site requires interior rehab and offers commercial redevelopment opportunities.
Where is this office building located?
The property is located at 2911 N Center St Maryville, IL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 2,200 SF existing home on a 7.23‑acre wooded lot; interior rehab required.; Property is zoned commercial, opening it to uses not previously approved under residential use.; On well and septic, but buyer must install new water line and sewer line per the Village of Maryville.
