2421 Corporate Ctr Granite City, IL 62040
- Commercial land
- 0.17 lot acres
Current Use by Public Records
- Commercial land
Property Details for 2421 Corporate Ctr
- Lot size
- 0.17 lot acres
- Property type
- Commercial land
- APN
- 22-2-20-09-07-201-027
- APU
- 222200907201027
Description
This two-story, Class B executive office building in Granite City, IL, offers a compelling investment opportunity. Boasting 25,000 square feet (20,083 net rentable), the property features a strong 8.75% cap rate and a healthy NOI of $169,166. Built in 1979 and renovated in 1999, the building sits on a 2.47-acre lot and includes 73 parking spaces. Currently 86% occupied, with anchor tenants Bethany (25% of rentable space) and Clarkson Eye Care (22%), the property presents significant potential for future growth and increased income. The building is situated in a professional office park with convenient access to Interstate 270. The asking price is $1,933,000 ($77.32/sq ft), with a gross lease type and multi-tenancy. The property's permitted zoning is commercial, and its APN is 22-1-20-09-07-201-014.001 22-2-20-09-07-201-027 22-2-20 90-07-201-028. This is a prime opportunity for investors seeking a stable, high-return asset in the St. Louis market area.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Granite City
- County
- Madison
- State
- Illinois
- Longitude
- -90.1019
- Latitude
- 38.7298
- CBSA code
- 41180
- CBSA name
- ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA
