Office/Warehouse Building For
For Sale
Contact for pricing
3907 Ernestine Drive, Marion, IL 62959
Office/warehouse building featuring 6,000 SF, bathrooms, and reception area.
Property Size6,000 SF
Price / SF$74.83
Days on Market1744
Property Features for 3907 Ernestine Drive
General Information
Standard status
Active
Size
6,000 SF
Total Parking Spaces
12
Property subtype
Special Purpose
Building Details
Year Built
1991
Buildings
1
Listing Agency:
Coldwell Banker J. David Thompson, Realty
Listed By:
Robbie Thompson · License #IL
Source:
Crexi
Added: Jan 9, 2022
Changed: Oct 5
Last Checked: Oct 16 at 6:58AM
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 Coldwell Banker J. David Thompson, Realty
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This 6,000 square foot office/warehouse building is located in a desirable area. The building includes two bathrooms, a break room, a waiting area, a reception area, and a storage room. This property is suitable for a number of business opportunities.
Key Highlights
- 6000 sq ft Office/Warehouse Building
- Great Location
- Includes 2 Bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$36,825
Cap Rate
8.20%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$736,500
$736.5K
Cap Rate 7%
$526,071
$526.1K
Cap Rate 9%
$409,167
$409.2K
Market Conditions
NOI Build-Up for 6,000 SF
Gross rent
$47.4K $7.90/SF
− Vacancy
−$4.1K −$0.68/SF
EGI
$43.3K $7.22/SF
− OpEx
−$6.5K −$1.08/SF
NOI
$36.8K $6.14/SF
Area
Williamson County, IL
Vacancy
8.60%
Lease Rate
$7.90 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$736,500
Cap Rate 7%
$526,071
Cap Rate 9%
$409,167
Alternative Uses
Best Use
Office B
$948.9K
$830.3K – $1.11M
NOI $66,420 @ 7.0% cap · market cap 14.79%
Second Best
Warehouse
$526.1K
$460.3K – $613.8K
NOI $36,825 @ 7.0% cap · market cap 8.20%
Theoretical Best
Office A
$1.26M
$1.11M – $1.48M
NOI $88,543 @ 7.0% cap · market cap 19.72%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
375
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 62959, IL
27,629
Population
12,997
Households
2.1
Avg Household Size
43
Median Age
28%
College-Educated
92%
High-School Grad
143.0 sq mi
ZIP Area
193
Density / Sq Mi
$69,914
Median Household Income
$44,145
Median Earnings
$895
Median Rent
$166,200
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Office/warehouse building featuring 6,000 SF, bathrooms, and reception area.
Where is this flex space located?
The property is located at 3907 Ernestine Drive Marion, IL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 6000 sq ft Office/Warehouse Building; Great Location; Includes 2 Bathrooms
