Forsyth Medical Office Investment
For Sale
Contact for pricing
845 US-51, Forsyth, IL 62535
Fully leased medical office building for sale in Forsyth, Illinois.
Property Size7,200 SF
Lot Size1.28 Acres
Price / SF$208.33
Days on Market1084
Property Features for 845 US-51
General Information
Standard status
Active
Size
7,200 SF
Class
B
Total Parking Spaces
75
Lot size
1.28 Acres
Property subtype
Office
Zoning
COM
Occupancy
100%
Lease Type
NNN
Net Operating Income
$122,040
Building Details
Year Built
1970
Year Renovated
2014
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Vieweg Real Estate
Listed By:
Tim Vieweg · License #IL 471.018186
(217) 454-4037
Source:
Crexi
Added: Nov 1, 2023
Changed: Oct 2
Last Checked: Oct 19 at 7:29AM
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 Vieweg Real Estate
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 7,200 square foot medical office building is available for sale. Situated on a 1.28 acre parcel directly off of US Route 51 in Forsyth, Illinois, the property is a dual tenant facility. A local pharmacy is a current tenant. The property is located on a high visibility intersection with a traffic count of over 20,000 vehicles per day. The lot features a drive-through for the pharmacy and a parking lot with 75 spaces. The property is currently fully leased with leases that mature in 2027 with options to extend, presenting an investment opportunity in a high traffic location with credited tenants.
Key Highlights
- Fully leased property providing immediate income.
- High‑traffic location on US Route 51 with over 20,000 vehicles per day.
- Dual tenant facility with a pharmacy as a current tenant.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,154
Cap Rate
3.81%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,143,080
$1.1M
Cap Rate 7%
$816,486
$816.5K
Cap Rate 9%
$635,044
$635.0K
Market Conditions
NOI Build-Up for 7,200 SF
Gross rent
$90.7K $12.60/SF
− Vacancy
−$14.5K −$2.02/SF
EGI
$76.2K $10.58/SF
− OpEx
−$19.1K −$2.65/SF
NOI
$57.2K $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%
$1,143,080
Cap Rate 7%
$816,486
Cap Rate 9%
$635,044
Alternative Uses
Best Use
Office B
$816.5K
$714.4K – $952.6K
NOI $57,154 @ 7.0% cap · market cap 3.81%
Second Best
Healthcare Medical
$810.0K
$708.8K – $945.0K
NOI $56,700 @ 7.0% cap · market cap 3.78%
Theoretical Best
Specialty Retail
$1.21M
$1.06M – $1.41M
NOI $84,655 @ 7.0% cap · market cap 5.64%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
192
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 62535, IL
3,745
Population
1,346
Households
2.8
Avg Household Size
44
Median Age
59%
College-Educated
97%
High-School Grad
3.6 sq mi
ZIP Area
1,040
Density / Sq Mi
$113,456
Median Household Income
$69,632
Median Earnings
$1,207
Median Rent
$289,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Medical Office Space - Fully leased medical office building for sale in Forsyth, Illinois.
Where is this medical office space located?
The property is located at 845 US-51 Forsyth, IL.
What is the asking price?
The asking price for this property is $1,499,999.
What are key features of this property?
This property features: Fully leased property providing immediate income.; High‑traffic location on US Route 51 with over 20,000 vehicles per day.; Dual tenant facility with a pharmacy as a current tenant.
