One-Story Office
3505 College Avenue Alton, IL 62002
3505 College Avenue, Alton, IL, 62002
$675,000
For Sale
$675,000
COMMERCIAL - Alton, IL
Property Size3,600 SF
Lot Size0.57 Acres
Price / SF$187.50
Days on Market24
Property Features for 3505 College Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Standard status
- Active
- APN
- 23-1-08-08-09-101-052.001
- Lot size
- 0.57 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Annual Amount
- 18246
Utilities
- Heating system
- Forced Air
- Cooling system
- Central Air
- Water source
- Public
Building Details
- Year built
- 2000
- Floors in Building
- 1
- Building materials
- Brick
Listing agency
Tarrant and Harman Real Estate and Auction Co
(618) 433-9436
Listed by
Travis Tarrant · License #471016673
(618) 433-9436
Added: Jun 29 Updated: Jul 22 at 12:36PM Checked: Jul 22 at 2:06PM
MLS# 26040975
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 one-story commercial office building is currently divided into two separate spaces, and both units are occupied. The property includes nearly 3,600 square feet of finished space and a large parking lot, supporting day-to-day tenant and visitor needs. The building also features a newer HVAC system.
Convenient access is available from College Avenue. The property is also located near Homer Adams Pkwy and I-255.
Ideal for buyers seeking a multi-space office configuration, the building offers two established, income-producing units within a single facility.
Convenient access is available from College Avenue. The property is also located near Homer Adams Pkwy and I-255.
Ideal for buyers seeking a multi-space office configuration, the building offers two established, income-producing units within a single facility.
Key Highlights
- Brick 1‑story commercial building built in 2000 with nearly 3,600 sq ft of finished space
- Currently divided into two spaces, and both units are occupied
- Large on‑site parking lot
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 | $86.4k | $24.00 |
| − Vacancy | −$10.4k | −$2.88 |
| EGI | $76.0k | $21.12 |
| − OpEx | −$19.0k | −$5.28 |
| NOI | $57.0k | $15.84 |
3,600 SF · lease $24.00/SF/yr · vacancy 12.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$814.6K
$712.8K – $950.4K
NOI $57,024 @ 7.0% cap · market cap 8.45%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$981.3K
$858.6K – $1.14M
NOI $68,688 @ 7.0% cap · market cap 10.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Next Step Foot ...
Physician
Next Step Foot ...
Physician
Jacob Lamb
Physician
WALK HEALTHY TOPICAL ...
Department Store
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FAQs
What type of property is this?
Office building - One-story office building is split into two occupied spaces with newer HVAC and a large parking lot.
Where is this office building located?
The property is located at 3505 College Avenue Alton, IL.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Brick 1‑story commercial building built in 2000 with nearly 3,600 sq ft of finished space; Currently divided into two spaces, and both units are occupied; Large on‑site parking lot
