Medical Office
New
For Sale
Contact for pricing
307 Henry St. 311, Alton, IL 62002
A third-floor professional suite in an elevator-served building, with access from the north parking area.
Property Size1,200 SF
Price / SF$0.01
Days on Market3
Property Features for 307 Henry St. 311
General Information
Standard status
Active
Size
1,200 SF
Elevators
Yes
Property subtype
Land
Additional Details
Floor
3
Building Details
Buildings
1
Stories
4
Listing Agency:
Coldwell Banker Brown Realtors
Listed By:
Rick Lauschke · License #471000992
(618) 465-2966
Source:
Cbcworldwide
Added: Oct 23
Last Checked: Oct 24 at 1:34PM
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 Coldwell Banker Brown Realtors
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This third-floor medical office suite contains approximately 1,200 square feet in the Honke Office Building. An elevator serves all four floors, and access to the suite is available from the north parking lot. The building’s full-service arrangement includes taxes, utilities, insurance, CAM, and light janitorial service.
The property occupies a corner location at 3rd and Henry Street in Alton, Illinois, and is in a HUB Zone. The space was previously configured for medical office use; other stated possibilities include legal and professional or personal services.
The property occupies a corner location at 3rd and Henry Street in Alton, Illinois, and is in a HUB Zone. The space was previously configured for medical office use; other stated possibilities include legal and professional or personal services.
Key Highlights
- Approximately 1,200 square feet on the building’s third floor
- Elevator access serves all four floors
- North parking lot provides access to the suite
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$14,306
Suggested Prices Based on Cap Rates
Cap Rate 5%
$286,120
$286.1K
Cap Rate 7%
$204,371
$204.4K
Cap Rate 9%
$158,956
$159.0K
Market Conditions
NOI Build-Up for 1,200 SF
Gross rent
$26.6K $22.20/SF
− Vacancy
−$2.8K −$2.33/SF
EGI
$23.8K $19.87/SF
− OpEx
−$9.5K −$7.95/SF
NOI
$14.3K $11.92/SF
Area
Madison County, IL
Vacancy
10.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
40.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$286,120
Cap Rate 7%
$204,371
Cap Rate 9%
$158,956
Alternative Uses
Best Use
Office B
$271.5K
$237.6K – $316.8K
NOI $19,008 @ 7.0% cap · market cap 126,720.00%
Second Best
Healthcare Medical
$204.4K
$178.8K – $238.4K
NOI $14,306 @ 7.0% cap · market cap 95,373.33%
Theoretical Best
Office A
$327.1K
$286.2K – $381.6K
NOI $22,896 @ 7.0% cap · market cap 152,640.00%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
10
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 62002, IL
30,176
Population
14,832
Households
2
Avg Household Size
41
Median Age
24%
College-Educated
92%
High-School Grad
41.3 sq mi
ZIP Area
731
Density / Sq Mi
$57,851
Median Household Income
$38,120
Median Earnings
$941
Median Rent
$114,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - A third-floor professional suite in an elevator-served building, with access from the north parking area.
Where is this medical office space located?
The property is located at 307 Henry St. 311 Alton, IL.
What are key features of this property?
This property features: Approximately 1,200 square feet on the building’s third floor; Elevator access serves all four floors; North parking lot provides access to the suite
