Forsyth Medical Office Investment
845 US-51 Forsyth, IL 62535
845 US-51, Forsyth, IL, 62535
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For Sale
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Fully leased medical office building for sale in Forsyth, Illinois.
Property Size7,200 SF
Lot Size1.28 Acres
Price / SF$208.33
Days on Market992
Property Features for 845 US-51
General Information
- Standard status
- Active
- Size
- 7,200 SF
- Lot size
- 1.28 Acres
- Property subtype
- Office
Building Details
- Year Built
- 1970
Listing Agency
Vieweg Real Estate
(217) 433-0839
Listed by
AJ Speasl · License #475.208164
Source
Crexi
Added: Nov 1, 2023 Checked: Jul 19 at 3:34 am
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
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.
Local Financial Insights For Office B
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.7k | $12.60 |
| − Vacancy | −$14.5k | −$2.02 |
| EGI | $76.2k | $10.58 |
| − OpEx | −$19.1k | −$2.65 |
| NOI | $57.2k | $7.94 |
7,200 SF · lease $12.60/SF/yr · vacancy 16.00% · expense 25.00%
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 local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Medical Office Space
Similar For Sale Nearby
FAQs
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.
