845 Us-51 Forsyth, IL 62535
- Office Properties & Spaces
- 7,200 SF
- 1.28 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 845 Us-51
- Year built
- 1970
- Lot size
- 1.28 lot acres
- Property size
- 7,200 SF
- Property type
- Office Properties & Spaces
- Property subtype
- Medical offices
Description
This Forsyth, Illinois medical office building presents a compelling value-add investment opportunity. The 7,200-square-foot, single-story building, constructed in 1970 and renovated in 2014, sits on a 1.28-acre lot with 75 parking spaces. Currently 100% occupied (as of November 1, 2023) with two tenants, including a pharmacy, it offers a strong NOI of $122,040 and an 8.14% cap rate. The property features a high-visibility location on US Route 51, boasting over 20,000 vehicles per day. The building includes split HVAC systems and is zoned COM. A significant portion (3,600 square feet) is currently vacant, offering immediate potential for lease income or owner-user occupancy. The vacant space is a turnkey medical office suite with a dual-sided lobby, four restrooms, receptionist area, break room, office, nurse bullpen, lead X-ray room, and multiple exam rooms. The asking price is $1,499,999, representing a price per square foot of $208.33 and a price per unit of $749,999.50. This property is a NNN lease, multi-tenant building with six beds. The APN is 07-07-15-476-040. This is a prime development area with high traffic counts and ample parking, making it an ideal investment for both owner-users and investors seeking strong returns.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Forsyth
- County
- Macon
- State
- Illinois
- Longitude
- -88.9567
- Latitude
- 39.9235
