Third-Floor Office Unit with
New
For Sale
Contact for pricing
307 Henry St. 317, Alton, IL 62002
The suite occupies the building’s third floor, with elevator service across all four levels.
Property Size800 SF
Price / SF$0.02
Days on Market3
Property Features for 307 Henry St. 317
General Information
Standard status
Active
Size
800 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 1:27PM
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 office unit is on the third floor of the Honke Office Building, a four-story property with elevator access. The suite measures approximately 800 square feet and was previously configured for medical office use. Its layout may also suit legal or other professional or personal services.
Access is available from the north parking lot. The building stands at the corner of 3rd and Henry Street and is located in a HUB Zone. Building services include taxes, utilities, insurance, CAM, and light janitorial service as part of the full-service arrangement.
Access is available from the north parking lot. The building stands at the corner of 3rd and Henry Street and is located in a HUB Zone. Building services include taxes, utilities, insurance, CAM, and light janitorial service as part of the full-service arrangement.
Key Highlights
- Approximately 800 square feet on the third floor
- Elevator service to all four floors
- North parking lot access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$9,537
Suggested Prices Based on Cap Rates
Cap Rate 5%
$190,740
$190.7K
Cap Rate 7%
$136,243
$136.2K
Cap Rate 9%
$105,967
$106.0K
Market Conditions
NOI Build-Up for 800 SF
Gross rent
$17.8K $22.20/SF
− Vacancy
−$1.9K −$2.33/SF
EGI
$15.9K $19.87/SF
− OpEx
−$6.4K −$7.95/SF
NOI
$9.5K $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%
$190,740
Cap Rate 7%
$136,243
Cap Rate 9%
$105,967
Alternative Uses
Best Use
Office B
$181.0K
$158.4K – $211.2K
NOI $12,672 @ 7.0% cap · market cap 84,480.00%
Second Best
Healthcare Medical
$136.2K
$119.2K – $159.0K
NOI $9,537 @ 7.0% cap · market cap 63,580.00%
Theoretical Best
Office A
$218.1K
$190.8K – $254.4K
NOI $15,264 @ 7.0% cap · market cap 101,760.00%
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
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?
Office unit - The suite occupies the building’s third floor, with elevator service across all four levels.
Where is this office unit located?
The property is located at 307 Henry St. 317 Alton, IL.
What are key features of this property?
This property features: Approximately 800 square feet on the third floor; Elevator service to all four floors; North parking lot access
