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    The Largest CRE Database in the US with Over 1 Million Listings

    609 8Th Ave Mendota, IL 61342

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    For Lease
    Contact for pricing

    Prime Mendota Office Space Available

    Lot size:
    4,501 SF

    Property Features for 609 8Th Ave

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,501 SF

    Building Details

    Stories
    1

    Spaces For Lease

    at 609 8Th Ave, Mendota, IL 61342 Contact us

    We can help!

    Listing Contact
    Karen Walsh
    Karen Walsh

    Listing Agency: CBRE, INC. Listing Agent: Karen Walsh

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    This exceptional single-tenant executive office space, located at 609 8th Ave in Mendota, Illinois, presents a fantastic opportunity for businesses seeking a prominent location. The property boasts a total building size of 4,501 square feet, with a substantial 3,874 square feet currently available for lease. Situated in a convenient location within the vibrant city of Mendota (zip code 61342), this ground-level (one-story) building offers easy access and ample space for a variety of professional uses. The property is classified as both retail and office space, making it versatile and adaptable to different business needs. The single-tenant occupancy ensures privacy and control over the entire leased area. This is an ideal space for businesses seeking a well-maintained, readily available office environment in a thriving Illinois community. The property's strategic location provides excellent visibility and accessibility, making it an attractive option for companies looking to establish or expand their presence in the Mendota area. With its generous square footage and prime location, this property offers a unique opportunity for growth and success. Interested parties are encouraged to inquire for further details and scheduling a viewing.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Midland States Bank ... Atm Michael G. Bokus ... Law Firm Midland States Bank Bank Timothy G Munson ... Law Firm Terra Securities Corporation Financial Advisor

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Pharmacy

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Mendota
    County
    Lasalle
    State
    Illinois
    Longitude
    -89.1195361
    Latitude
    41.5472495

    Nearby Similar for Lease

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      25,764 SF

      Mendota, Illinois Lease Opportunity

      Lease opportunity in Mendota, Illinois, near Chicago.
      220 N 4099Th Rd, Mendota, IL 61342
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    • Contact for pricing
      3,773 SF

      Mendota Office Space Available

      Office space available for lease in Mendota, Illinois.
      609 8Th Ave, Mendota, IL 61342
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - Prime Mendota Office Space Available
    Where is this office property / space located?
    The property is located at 609 8Th Ave Mendota, IL.
    What are key features of this property?
    This property features: Single-story office building.; 3,874 square feet of office space available for lease.; Attached two-car garage.
    (815) 218-3438 Call to check price and availability
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    609 8Th Ave Mendota, IL 61342
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    Mendota, IL 61342
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    609 8Th Ave Mendota, IL 61342
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Karen Walsh
    Karen Walsh
    Real Estate License ID: 471015351
    (815) 218-3438
    Learn more
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