Office Building with Street
For Sale
$225,000
A-5105 N Illinois St, Fairview Heights, IL 62232
Vacant office property positioned in a high-traffic area near medical, retail, restaurant, and hospitality uses.
Property Size1,257 SF
Lot Size0.60 Acres
Price / SF$178
Days on Market289
Property Features for A-5105 N Illinois St
General Information
Standard status
Active
Size
1,257 SF
Lot size
0.60 Acres
Site & Location
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$4,784
Building Details
Buildings
1
Building Size
1,257 SF
Listing Agency:
Coldwell Banker Brown Realtors
(618) 791-8251
Listed By:
Abid Ali · License #475.181487
(618) 791-8251
Source:
Exprealty
Added: Nov 14, 2025
Changed: Aug 30
Last Checked: Aug 30 at 7:22AM
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 Brown Realtors
Investment Insights
Based on property information with market context.
This vacant office building contains 1,257 SF on a 0.60-acre lot, providing a compact commercial footprint for an office user or owner-occupant. The property fronts North Illinois Street and benefits from direct exposure along IL Rte. 159.
Located in Fairview Heights, the site records 27,200 Vehicles Per Day and sits near medical facilities, major retailers, restaurants, and hospitality businesses. Its setting within a retail-center environment places the building among a range of established commercial uses.
Located in Fairview Heights, the site records 27,200 Vehicles Per Day and sits near medical facilities, major retailers, restaurants, and hospitality businesses. Its setting within a retail-center environment places the building among a range of established commercial uses.
Key Highlights
- 1, 257 SF office building on a 0.60 Acres Lot
- Currently vacant
- 146' of frontage on North Illinois Street (IL Rte. 159)
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$14,571
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$291,420
$291.4K
Cap Rate 7%
$208,157
$208.2K
Cap Rate 9%
$161,900
$161.9K
Market Conditions
NOI Build-Up for 1,257 SF
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.
Gross rent
$24.1K $19.20/SF
− Vacancy
−$4.7K −$3.74/SF
EGI
$19.4K $15.46/SF
− OpEx
−$4.9K −$3.86/SF
NOI
$14.6K $11.59/SF
Area
St. Clair County, IL
Vacancy
19.50%
Lease Rate
$19.20 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$291,420
Cap Rate 7%
$208,157
Cap Rate 9%
$161,900
Alternative Uses
Best Use
Office B
$208.2K
$182.1K – $242.9K
NOI $14,571 @ 7.0% cap · market cap 6.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$297.6K
$260.4K – $347.2K
NOI $20,830 @ 7.0% cap · market cap 9.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
247
Businesses Nearby
Explore this area
Business Placement
Demographics for 62232, IL
7,547
Population
3,082
Households
2.4
Avg Household Size
41
Median Age
22%
College-Educated
93%
High-School Grad
12.8 sq mi
ZIP Area
590
Density / Sq Mi
$64,268
Median Household Income
$42,485
Median Earnings
$1,077
Median Rent
$114,800
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Office building - Vacant office property positioned in a high-traffic area near medical, retail, restaurant, and hospitality uses.
Where is this office building located?
The property is located at A-5105 N Illinois St Fairview Heights, IL.
What is the asking price?
The asking price for this property is $225,000.
What are key features of this property?
This property features: 1, 257 SF office building on a 0.60 Acres Lot; Currently vacant; 146' of frontage on North Illinois Street (IL Rte. 159)
