Quality Inn Marion,
For Sale
Contact for pricing
Pending
2600 W Main St, Marion, IL 62959
Quality Inn conveniently located off U.S Highway 57.
Property Size60,000 SF
Days on Market793
Property Features for 2600 W Main St
General Information
Standard status
Pending
Size
60,000 SF
Property subtype
Hospitality
Zoning
C
Investment Type
Owner/User
Net Operating Income
$445,397
Building Details
Year Built
1989
Year Renovated
2022
Buildings
1
Stories
2
Listing Agency:
Cushman & Wakefield - Irvine Orange County, California
Listed By:
Aseem Tandon · License #CA 01725152
Source:
Crexi
Added: Jun 20, 2024
Changed: Aug 16
Last Checked: Aug 20 at 3:52PM
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 Cushman & Wakefield - Irvine Orange County, California
Investment Insights
Based on property information with market context.
The Quality Inn in Marion, IL, is available for sale. It is conveniently located off U.S Highway 57 and centrally located near various attractions. The hotel is a 7-minute drive to the Williamson County Historical Museum and an 8-minute drive to the Harry L. Crisp Sports Complex. Pyramid Park and Crab Orchard National Wildlife Refuge are also located near this hotel. Mandala Gardens is within minutes of the Quality Inn, offering pathways, hidden benches, goats, chickens, ducks, stonework, and seasonal vegetables and herbs. Mandala Gardens are especially recommended in the fall. Marion is also home to the Southern Illinois Miners baseball team. The property size is 60000 square feet.
Key Highlights
- Conveniently located off U.S Highway 57.
- Close proximity to Williamson County Historical Museum and Harry L. Crisp Sports Complex.
- Near Pyramid Park and Crab Orchard National Wildlife Refuge.
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
$410,400
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
9.12%
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%
$8,208,000
$8.2M
Cap Rate 7%
$5,862,857
$5.9M
Cap Rate 9%
$4,560,000
$4.6M
Market Conditions
NOI Build-Up for 60,000 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
$1.08M $18.00/SF
− Vacancy
−$216.0K −$3.60/SF
EGI
$864.0K $14.40/SF
− OpEx
−$453.6K −$7.56/SF
NOI
$410.4K $6.84/SF
Area
Williamson County, IL
Vacancy
20.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
52.50%
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%
$8,208,000
Cap Rate 7%
$5,862,857
Cap Rate 9%
$4,560,000
Alternative Uses
Best Use
Hotel Hospitality
$5.86M
$5.13M – $6.84M
NOI $410,400 @ 7.0% cap · market cap 9.12%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$12.65M
$11.07M – $14.76M
NOI $885,427 @ 7.0% cap · market cap 19.68%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
238
Businesses Nearby
Explore this area
Business Placement
Demographics for 62959, IL
27,629
Population
12,997
Households
2.1
Avg Household Size
43
Median Age
28%
College-Educated
92%
High-School Grad
143.0 sq mi
ZIP Area
193
Density / Sq Mi
$69,914
Median Household Income
$44,145
Median Earnings
$895
Median Rent
$166,200
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Hotel - Quality Inn conveniently located off U.S Highway 57.
Where is this hotel located?
The property is located at 2600 W Main St Marion, IL.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Conveniently located off U.S Highway 57.; Close proximity to Williamson County Historical Museum and Harry L. Crisp Sports Complex.; Near Pyramid Park and Crab Orchard National Wildlife Refuge.
