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    845 Us-51 Forsyth, IL 62535

    Sponsored
    For Sale
    $1,499,999

    7,200 SF Medical Office, 8.14% Cap Rate

    Property size:
    7,200 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This Forsyth, Illinois medical office building presents a compelling value-add investment opportunity. The 7,200-square-foot, single-story building, constructed in 1970 and renovated in 2014, sits on a 1.28-acre lot with 75 parking spaces. Currently 100% occupied (as of November 1, 2023) with two tenants, including a pharmacy, it offers a strong NOI of $122,040 and an 8.14% cap rate. The property features a high-visibility location on US Route 51, boasting over 20,000 vehicles per day. The building includes split HVAC systems and is zoned COM. A significant portion (3,600 square feet) is currently vacant, offering immediate potential for lease income or owner-user occupancy. The vacant space is a turnkey medical office suite with a dual-sided lobby, four restrooms, receptionist area, break room, office, nurse bullpen, lead X-ray room, and multiple exam rooms. The asking price is $1,499,999, representing a price per square foot of $208.33 and a price per unit of $749,999.50. This property is a NNN lease, multi-tenant building with six beds. The APN is 07-07-15-476-040. This is a prime development area with high traffic counts and ample parking, making it an ideal investment for both owner-users and investors seeking strong returns.

    Property Features for 845 Us-51

    General Information

    Property type
    Medical offices
    Square Feet
    7,200 SF
    Class
    B
    Lot Size
    55,757 SF

    Building Details

    Year Built/Renovated
    1970/2014
    Buildings
    1
    Stories
    1
    Units
    2

    HighLights

    • High‑visibility location on US Route 51 in Forsyth, IL.
    • High traffic counts exceeding 20,000 vehicles daily.
    • Prime development opportunity in Macon County, IL.
    • Ample parking with 75 spaces.
    • 7,200 square foot, single‑story Class B medical office building.
    • Building features split HVAC systems.
    Property Profile Location Intelligence

    Current Use by Public Records

    Medical offices

    Map

    City
    Forsyth
    County
    Macon
    State
    Illinois
    Longitude
    -88.956695618502
    Latitude
    39.923499033979

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    FAQs

    What type of property is this?
    Medical office - 7,200 SF Medical Office, 8.14% Cap Rate
    Where is this medical office 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: High-visibility location on US Route 51 in Forsyth, IL.; High traffic counts exceeding 20,000 vehicles daily.; Prime development opportunity in Macon County, IL.
    Request Owner's contact information
    845 Us-51 Forsyth, IL 62535
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    Realmo Value Estimation

    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.

    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.

    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
    845 Us-51 Forsyth, IL 62535
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