New Office Space
5-25 Apex Dr, Highland, IL
For Sale
Contact for pricing
Newly constructed office space near St. Joseph's Hospital.
Property Size1,855 SF
Lot Size0.35 Acres
Price / SF$140.05
Days on Market936
Property Features for 5-25 Apex Dr
General Information
Standard status
Size
Lot size
Property subtype
Listing Agency:
BARBERMurphy
(618) 277-4400
Listed By:
Collin Fischer · License #471020932
(618) 420-2376
Source:
Moodyscre
Added: Apr 18, 2024
Changed: Oct 26
Last Checked: Nov 8 at 6:27AM
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 BARBERMurphy
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 is a newly constructed office space located in Apex Professional Park, less than 1/2 mile from the new St. Joseph's Hospital. The landlord is open to negotiating improvements. The property benefits from local and professional management. Large signage is available on both the building and the park sign. The property has a size of 1855 square feet and is located in Highland, IL.
Key Highlights
- Newly constructed office space.
- Located less than 1/2 mile from St. Joseph's Hospital.
- Landlord will negotiate improvements.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,114
Cap Rate
8.51%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$442,280
$442.3K
Cap Rate 7%
$315,914
$315.9K
Cap Rate 9%
$245,711
$245.7K
Market Conditions
NOI Build-Up for 1,855 SF
Gross rent
$41.2K $22.20/SF
− Vacancy
−$4.3K −$2.33/SF
EGI
$36.9K $19.87/SF
− OpEx
−$14.7K −$7.95/SF
NOI
$22.1K $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%
$442,280
Cap Rate 7%
$315,914
Cap Rate 9%
$245,711
Alternative Uses
Best Use
Office B
$419.8K
$367.3K – $489.7K
NOI $29,383 @ 7.0% cap · market cap 11.31%
Second Best
Healthcare Medical
$315.9K
$276.4K – $368.6K
NOI $22,114 @ 7.0% cap · market cap 8.51%
Theoretical Best
Office A
$505.6K
$442.4K – $589.9K
NOI $35,393 @ 7.0% cap · market cap 13.62%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
482
Businesses Nearby
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Business Placement
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/SF for Office Units in Madison County, IL
Properties on Market for Office Units in Madison County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Office unit - Newly constructed office space near St. Joseph's Hospital.
Where is this office unit located?
The property is located at 5-25 Apex Dr Highland, IL.
What is the asking price?
The asking price for this property is $259,800.
What are key features of this property?
This property features: Newly constructed office space.; Located less than 1/2 mile from St. Joseph's Hospital.; Landlord will negotiate improvements.
