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    360 11Th St Monmouth, IL 61462

    For Sale
    $396,423

    IL Medical Office Investment: 8.5% Cap Rate

    Property size:
    3,253 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional investment opportunity presents a fee simple interest in a 3,253 square foot, NNN-leased veterinary hospital in Monmouth, Illinois. The property, built in 1950, sits on a 0.34-acre lot and includes 30 parking spaces. Currently leased to Heartland Veterinary Partners, a well-established veterinary management company, the lease commenced October 21, 2020, and has a remaining term of approximately 0 years, with a recent 3-year extension exercised by the tenant, and one additional 3-year option remaining. The property boasts a strong 8.50% cap rate, generating a net operating income (NOI) of $33,696, with an asking price of $396,423 ($121.86/sq ft). The triple-net (NNN) lease structure minimizes landlord responsibilities, making this an ideal low-management investment. The hospital enjoys high visibility on N 11th Street, a busy thoroughfare with 3,455 vehicles daily, and is strategically located near other established businesses such as Walgreens, Subway, and Save-a-Lot. The 5-mile trade area has a population of 9,751 residents and 4,207 daytime employees, with an average household income of $103,113. The property's location and tenant's commitment make this a compelling investment prospect. The property's address is 360 N 11th St, Monmouth, IL 61462, with APN 09-040-025-00. The building is a single structure. Rent bumps are included in the lease.

    Property Features for 360 11Th St

    General Information

    Property type
    Medical offices
    Square Feet
    3,253 SF
    Lot Size
    14,810 SF

    Building Details

    Year Built
    1950
    Buildings
    1

    HighLights

    • Heartland Veterinary Partners recently extended their lease for 3 years.
    • One 3‑year lease extension option remains.
    • NNN‑leased veterinary hospital with strong visibility on N 11th Street.
    • High traffic location (3,455 vehicles daily) near Walgreens, Subway, and Save‑a‑Lot.
    • 5‑mile trade area boasts over 9,751 residents and 4,207 employees.
    • Affluent 1‑mile radius with average household income exceeding $108,984.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Medical offices

    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
    Monmouth
    County
    Warren
    State
    Illinois
    Longitude
    -90.6313978
    Latitude
    40.9144883

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    Nearby Similar for Sale

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    FAQs

    What type of property is this?
    Medical office - IL Medical Office Investment: 8.5% Cap Rate
    Where is this medical office located?
    The property is located at 360 11Th St Monmouth, IL.
    What is the asking price?
    The asking price for this property is $396,423.
    What are key features of this property?
    This property features: Heartland Veterinary Partners recently extended their lease for 3 years.; One 3-year lease extension option remains.; NNN-leased veterinary hospital with strong visibility on N 11th Street.
    Request Owner's contact information
    360 11Th St Monmouth, IL 61462
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    Monmouth, IL 61462
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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
    360 11Th St Monmouth, IL 61462
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