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    2421 Corporate Ctr Granite City, IL 62040

    Sponsored
    For Sale
    $1,933,000

    High-yield office building, 86% occupied

    Property size:
    25,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This two-story, Class B executive office building in Granite City, IL, offers a compelling investment opportunity. Boasting 25,000 square feet (20,083 net rentable), the property features a strong 8.75% cap rate and a healthy NOI of $169,166. Built in 1979 and renovated in 1999, the building sits on a 2.47-acre lot and includes 73 parking spaces. Currently 86% occupied, with anchor tenants Bethany (25% of rentable space) and Clarkson Eye Care (22%), the property presents significant potential for future growth and increased income. The building is situated in a professional office park with convenient access to Interstate 270. The asking price is $1,933,000 ($77.32/sq ft), with a gross lease type and multi-tenancy. The property's permitted zoning is commercial, and its APN is 22-1-20-09-07-201-014.001 22-2-20-09-07-201-027 22-2-20 90-07-201-028. This is a prime opportunity for investors seeking a stable, high-return asset in the St. Louis market area.

    Property Features for 2421 Corporate Ctr

    General Information

    Property type
    Office Properties & Spaces
    Square Feet
    25,000 SF
    Class
    B
    Lot Size
    107,593 SF

    Building Details

    Year Built/Renovated
    1979/1999
    Stories
    2

    HighLights

    • Class B, two‑story office building totaling 25,000 square feet (20,083 net rentable) in Granite City, IL.
    • 86% occupancy with anchor tenants Bethany (25%) and Clarkson Eye Care (22%), offering growth potential.
    • Prime St. Louis area location in a professional office park with convenient Interstate 270 access.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Granite City
    County
    Madison
    State
    Illinois
    Longitude
    -90.10145
    Latitude
    38.7298205

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    FAQs

    What type of property is this?
    Office Property / Space - High-yield office building, 86% occupied
    Where is this office property / space located?
    The property is located at 2421 Corporate Ctr Granite City, IL.
    What is the asking price?
    The asking price for this property is $1,933,000.
    What are key features of this property?
    This property features: Class B, two-story office building totaling 25,000 square feet (20,083 net rentable) in Granite City, IL.; 86% occupancy with anchor tenants Bethany (25%) and Clarkson Eye Care (22%), offering growth potential.; Prime St. Louis area location in a professional office park with convenient Interstate 270 access.
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    2421 Corporate Ctr Granite City, IL 62040
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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
    2421 Corporate Ctr Granite City, IL 62040
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