Medical Office Building For
For Sale
Contact for pricing
675 E Snyder Dr, Decatur, IL 62526
Custom-built medical office in a central business district.
Property Size4,464 SF
Price / SF$125.22
Days on Market168
Property Features for 675 E Snyder Dr
General Information
Standard status
Active
Size
4,464 SF
Property subtype
Office
Building Details
Year Built
2012
Buildings
1
Stories
1
Listing Agency:
Brinkoetter Realtors
Listed By:
Staci Doolin · License #475181289
Source:
Crexi
Added: Mar 5
Changed: Aug 8
Last Checked: Aug 20 at 11:36AM
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
Investment Insights
Based on property information with market context.
This custom-built commercial office building, designed for a medical business, is located in a central north business district, near restaurants and Decatur hospitals. The building has a total area of 4464 square feet. The front 3224 square feet are currently configured as an OB-GYN office, featuring 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 the space from a new owner for a negotiable 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 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 rear space is currently vacant. The property is suitable for medical or other commercial uses.
Key Highlights
- Custom‑built commercial office building designed for a medical business.
- Located in a central north business district, close to restaurants and Decatur Hospitals.
- Option for current owner to rent the front 3224 sqft (OB‑GYN business) from the new owner.
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
$35,435
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
6.34%
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%
$708,700
$708.7K
Cap Rate 7%
$506,214
$506.2K
Cap Rate 9%
$393,722
$393.7K
Market Conditions
NOI Build-Up for 4,464 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
$56.2K $12.60/SF
− Vacancy
−$9.0K −$2.02/SF
EGI
$47.2K $10.58/SF
− OpEx
−$11.8K −$2.65/SF
NOI
$35.4K $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 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%
$708,700
Cap Rate 7%
$506,214
Cap Rate 9%
$393,722
Alternative Uses
Best Use
Office B
$506.2K
$442.9K – $590.6K
NOI $35,435 @ 7.0% cap · market cap 6.34%
Second Best
Healthcare Medical
$502.2K
$439.4K – $585.9K
NOI $35,154 @ 7.0% cap · market cap 6.29%
Theoretical Best
Specialty Retail
$749.8K
$656.1K – $874.8K
NOI $52,486 @ 7.0% cap · market cap 9.39%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
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
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Medical Office Space - Custom-built medical office in a central business district.
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.; Located in a central north business district, close to restaurants and Decatur Hospitals.; Option for current owner to rent the front 3224 sqft (OB‑GYN business) from the new owner.
