Medical Office Building For
675 E Snyder Dr, Decatur, IL 62526
For Sale
$559,000
Custom-built medical office in central business district, suitable for owner-occupancy.
Property Size3,224 SF
Lot Size0.35 Acres
Price / SF$173.39
Days on Market768
Property Features for 675 E Snyder Dr
General Information
Standard status
Size
Lot size
Taxes and HOA fees
Annual Taxes
Listing Agency:
Brinkoetter REALTORS®
(217) 875-0555
Listed By:
Joe Doolin · License IL #471004286
(217) 972-3322
Source:
Exprealty
Added: Oct 4, 2024
Changed: Aug 8
Last Checked: Aug 8 at 2:32PM
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 Brinkoetter 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 custom-built commercial office building, designed for a medical business, is centrally located in a north business district, near restaurants and Decatur hospitals. The front portion of the building, comprising 3224 square feet, is currently configured as an OB-GYN practice with 6 patient rooms, two offices, a waiting room, a nurses station, an office bathroom, a customer bathroom, and a conference room. The current owner is open to renting this space from a new owner for a specified period. An additional 1240 square feet at the rear of the building, accessible via a private entrance, was designed as an income-generating space. This area is currently vacant and includes 3 patient rooms, a reception room, a bathroom, and a kitchen. Both the front and back offices are equipped with their own HVAC systems. The property is suitable for medical practices or healthcare-related businesses.
Key Highlights
- Custom‑built commercial office building designed for a medical business, ideal for medical professionals.
- Centrally located in a north business district, close to restaurants and Decatur Hospitals.
- Two separate office spaces (3224 sqft front & 1240 sqft rear) with private entrances and HVAC systems, offering flexibility for owner occupancy and rental income.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$25,592
Cap Rate
4.58%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$511,840
$511.8K
Cap Rate 7%
$365,600
$365.6K
Cap Rate 9%
$284,356
$284.4K
Market Conditions
NOI Build-Up for 3,224 SF
Gross rent
$40.6K $12.60/SF
− Vacancy
−$6.5K −$2.02/SF
EGI
$34.1K $10.58/SF
− OpEx
−$8.5K −$2.65/SF
NOI
$25.6K $7.94/SF
Area
Macon County, IL
Vacancy
16.00%
Lease Rate
$12.60 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$511,840
Cap Rate 7%
$365,600
Cap Rate 9%
$284,356
Alternative Uses
Best Use
Office B
$365.6K
$319.9K – $426.5K
NOI $25,592 @ 7.0% cap · market cap 4.58%
Second Best
Healthcare Medical
$362.7K
$317.4K – $423.2K
NOI $25,389 @ 7.0% cap · market cap 4.54%
Theoretical Best
Specialty Retail
$541.5K
$473.8K – $631.8K
NOI $37,907 @ 7.0% cap · market cap 6.78%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
610
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 62526, IL
31,758
Population
16,425
Households
1.9
Avg Household Size
41
Median Age
20%
College-Educated
92%
High-School Grad
66.0 sq mi
ZIP Area
481
Density / Sq Mi
$48,222
Median Household Income
$39,048
Median Earnings
$785
Median Rent
$91,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Cats Only — 2733 N Water St, Decatur, IL 62526
- PetDentist — 2800 N Martin Luther King Jr Dr, Decatur, IL 62526
- Northgate Pet Clinic — 2800 N Martin Luther King Jr Dr, Decatur, IL 62526
- Becky Reardon — 2800 N Martin Luther King Jr Dr, Decatur, IL 62526
- Jennifer Rojas- Watkins — 2800 N Martin Luther King Jr Dr, Decatur, IL 62526
Frequently Asked Questions
What type of property is this?
Medical Office Space - Custom-built medical office in central business district, suitable for owner-occupancy.
Where is this medical office space located?
The property is located at 675 E Snyder Dr Decatur, IL.
What is the asking price?
The asking price for this property is $559,000.
What are key features of this property?
This property features: Custom‑built commercial office building designed for a medical business, ideal for medical professionals.; Centrally located in a north business district, close to restaurants and Decatur Hospitals.; Two separate office spaces (3224 sqft front & 1240 sqft rear) with private entrances and HVAC systems, offering flexibility for owner occupancy and rental income.
