Vacant Office
For Sale
$225,000
5105 N Illinois Street A, Fairview Heights, IL 62208
Vacant office property with route frontage near medical facilities, retailers, restaurants, and hospitality services.
Property Size1,257 SF
Lot Size0.60 Acres
Price / SF$178
Days on Market32
Property Features for 5105 N Illinois Street A
General Information
Standard status
Active
Size
1,257 SF
Lot size
0.60 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Year Built
1941
Buildings
1
Building Size
1,257 SF
Owner Occupied
No
Listing Agency:
Coldwell Banker Brown Realtors
(618) 791-8251
Listed By:
Abid Ali · License #475.181487
Source:
Avenuerealtyteam
Added: Jul 28
Changed: Aug 28
Last Checked: Aug 25 at 7:55AM
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
Investment Insights
Based on property information with market context.
This office building offers 1,257 SF of space on a 0.60-acre site and is currently vacant. Built in 1941, the property provides an existing office improvement for an owner-user or commercial repositioning plan, subject to applicable approvals.
The site fronts North Illinois Street, also identified as IL Rte. 159, with 146 feet of frontage. Traffic exposure is supported by reported daily vehicle volume of 27,200. The property is positioned near medical facilities, major retailers, restaurants, and hospitality businesses, creating a commercial setting with multiple established service and activity nodes nearby.
The site fronts North Illinois Street, also identified as IL Rte. 159, with 146 feet of frontage. Traffic exposure is supported by reported daily vehicle volume of 27,200. The property is positioned near medical facilities, major retailers, restaurants, and hospitality businesses, creating a commercial setting with multiple established service and activity nodes nearby.
Key Highlights
- 1,257 SF office building on a 0.60‑acre lot
- Currently vacant and available for a new occupant or ownership strategy
- 146' of frontage on North Illinois Street (IL Rte. 159)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,571
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$291,420
$291.4K
Cap Rate 7%
$208,157
$208.2K
Cap Rate 9%
$161,900
$161.9K
Market Conditions
NOI Build-Up for 1,257 SF
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.
Gross rent
$24.1K $19.20/SF
− Vacancy
−$4.7K −$3.74/SF
EGI
$19.4K $15.46/SF
− OpEx
−$4.9K −$3.86/SF
NOI
$14.6K $11.59/SF
Area
St. Clair County, IL
Vacancy
19.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$291,420
Cap Rate 7%
$208,157
Cap Rate 9%
$161,900
Alternative Uses
Best Use
Office B
$208.2K
$182.1K – $242.9K
NOI $14,571 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$297.6K
$260.4K – $347.2K
NOI $20,830 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
Explore this area
Business Placement
Demographics for 62208, IL
16,992
Population
8,148
Households
2.1
Avg Household Size
42
Median Age
31%
College-Educated
93%
High-School Grad
13.4 sq mi
ZIP Area
1,268
Density / Sq Mi
$78,423
Median Household Income
$42,640
Median Earnings
$1,222
Median Rent
$167,900
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Vacant office property with route frontage near medical facilities, retailers, restaurants, and hospitality services.
Where is this office building located?
The property is located at 5105 N Illinois Street A Fairview Heights, IL.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1,257 SF office building on a 0.60‑acre lot; Currently vacant and available for a new occupant or ownership strategy; 146' of frontage on North Illinois Street (IL Rte. 159)
