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    1200 Il-121 Mount Zion, IL 62549
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    1200 Il-121 Mount Zion, IL 62549

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    • Office properties & Spaces
    • 7,500 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 1200 Il-121

    Year built
    1985
    Property size
    7,500 SF
    Property type
    Office properties & Spaces
    Property subtype
    Medical Office Space

    Description

    This 7,500 square foot Class B medical office building in Mount Zion, Illinois, is offered at $1,125,000 ($150/SF). Built in 1985, the single-story building sits on two parcels totaling approximately four acres, including three acres of adjacent developable land. Currently, 25% of the space (1,841 square feet) is leased under a modified lease agreement to multiple tenants. The property features 16 private treatment or exam rooms, 9 private offices, 3 nursing stations, a lab, reception area, and a spacious breakroom/bonus area. The building is zoned VB2 & VB3 and offers excellent potential for a single owner-occupier or multiple tenants, with separate client entrances and receiving areas already in place. Located on IL-121, this highly visible property enjoys prime location within Mount Zion's commercial district, surrounded by residential neighborhoods, offering easy access and strong community integration. The property's APN is 12-17-03-104-024; 12-17-03-104-05. This presents a value-add investment opportunity with significant expansion potential. The property's strategic location, ample parking, and adjacent land make it an attractive investment for healthcare providers and developers alike. This is a rare opportunity to acquire a well-situated medical facility with significant upside potential in a thriving community.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Mount Zion
    County
    Macon
    State
    Illinois
    Longitude
    -88.8707
    Latitude
    39.7838

    Comparable in this City

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      0.81 Acres

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      1.00 Acre

      1200 State Rte 121

      MEDICAL BUILDING • 1.00 Acre
      1200 State Rte 121, Mt Zion, IL 62549-1224
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      0.08 Acres

      420 Broadway

      DENTAL BUILDING • 0.08 Acres
      420 Broadway, Mt Zion, IL 62549-1551
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      0.85 Acres

      104 Ashland Ave

      MEDICAL BUILDING • 0.85 Acres
      104 Ashland Ave, Mt Zion, IL 62549-1271
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    • Value Estimation
      $1,030,000
      8,800 SF

      505 Sunset Ct

      OFFICE (GENERAL) • 8,800 SF
      505 Sunset Ct, Mt Zion, IL 62549-1564
      View Details

    Similar Nearby for Sale

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      7,500 SF

      Premium Healthcare Facility For Sale

      Freestanding 7,500 SF healthcare facility in Mount Zion, Illinois.
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      Premium Healthcare Facility For Sale

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      12,000 SF

      Versatile Flex Building in Mt. Zion

      12,000 SF flex building suitable for various commercial uses.
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    Mount Zion, IL 62549
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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
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