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    2500 St Louis St West Frankfort, IL 62896

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    For Sale
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    13,000 SF Medical Office, $265,000

    Property size:
    13,027 SF

    Property Features for 2500 St Louis St

    General Information

    Property type
    Retirement homes
    Square Feet
    13,027 SF
    Class
    C
    Lot Size
    128,938 SF

    Building Details

    Year Built
    1973
    Stories
    1

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    Listing Contact
    Mike Pierceall
    Mike Pierceall

    Listing Agency: Barbermurphy Group Listing Agent: Mike Pierceall

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

    Learn more

    Overview

    This 13,027 square foot medical office building presents a unique investment opportunity in West Frankfort, Illinois. Situated on a 2.96-acre lot zoned for business use, the property boasts a prime location on East St. Louis Street, conveniently positioned 1.75 miles east of IL Route 13 and 2.5 miles east of I-57. Built in 1973, this single-story Class C building features a spacious layout previously configured as a nursing home. The adaptable floor plan includes two wings, a large dining room, family room, equipped kitchen, six plus offices or specialty rooms, laundry facilities, public restrooms, and ample storage. The property includes 29 rooms, each with a bedroom and two bathrooms. All utilities are connected to the site, and it benefits from its location within an Enterprise Zone. The asking price is $265,000, translating to $20.34 per square foot. The property's APN is 12-20-402-999. This versatile property offers significant potential for various medical or commercial uses. Its size, location, and existing infrastructure make it an attractive prospect for investors and entrepreneurs seeking a substantial footprint in a strategic location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Retirement homes

    Map

    City
    West Frankfort
    County
    Franklin
    State
    Illinois
    Longitude
    -88.8971484
    Latitude
    37.8986904

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    FAQs

    What type of property is this?
    Retirement home - 13,000 SF Medical Office, $265,000
    Where is this retirement home located?
    The property is located at 2500 St Louis St West Frankfort, IL.
    What is the asking price?
    The asking price for this property is $265,000.
    What are key features of this property?
    This property features: $265,000 asking price for a 13,027 square foot medical office building.; Class C property built in 1973, situated on a 2.96-acre lot.; Located at 2500 E St Louis St, West Frankfort, IL 62896, in a Business-zoned Enterprise Zone.
    (618) 791-8396 Call to check price and availability
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    2500 St Louis St West Frankfort, IL 62896
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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
    2500 St Louis St West Frankfort, IL 62896
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    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Mike Pierceall
    Mike Pierceall
    Real Estate License ID: 475121234
    (618) 791-8396
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