Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    338 Marion Ave Forsyth, IL 62535-1064

    • Office buildings
    • 2.34 lot acres
    OFF-MARKET
    Value Estimations
    $375,000
    Show details
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-3541642
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Extended Living Pharmacy Llc / Pharmacy
    • BRIAN C YOCKS / Family Practice Physician

    Property Details for 338 Marion Ave

    Year built
    2018
    Lot size
    2.34 lot acres
    Zone code
    MUNICIPAL
    Property type
    Office buildings
    APN
    07-07-15-452-021
    APU
    70715452021

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      ML approach
      $375,000

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Forsyth
    County
    Macon
    State
    Illinois
    Longitude
    -88.9606
    Latitude
    39.9221
    CBSA code
    19500
    CBSA name
    DECATUR, IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $46,448
    $174,207
    $417,763
    $591,970
    -
    $522,673
    $1,253,414
    $1,776,087

    Comparable in this City

    • Value Estimation
      $255,000
      0.47 Acres

      444 Elwood St

      OFFICE BUILDING • 0.47 Acres
      444 Elwood St, Forsyth, IL 62535-8927
      View Details
    • Value Estimation
      $290,000
      0.59 Acres

      330 Marion Ave

      OFFICE BUILDING • 0.59 Acres
      330 Marion Ave, Forsyth, IL 62535-1064
      View Details
    • Value Estimation
      $345,000
      1.00 Acre

      Forsyth, IL 62535

      OFFICE BUILDING • 1.00 Acre
      Forsyth, IL 62535
      View Details
    • Value Estimation
      $250,000
      760 SF

      1101 Clement Ave

      OFFICE BUILDING • 760 SF
      1101 Clement Ave, Forsyth, IL 62535-9626
      View Details
    • Value Estimation
      $280,000
      0.51 Acres

      1401 Koester Dr

      OFFICE BUILDING • 0.51 Acres
      1401 Koester Dr, Forsyth, IL 62535-8916
      View Details
    • Value Estimation
      $320,000
      1.05 Acres

      Marion Ave

      OFFICE BUILDING • 1.05 Acres
      Marion Ave, Forsyth, IL 62535
      View Details

    Similar Nearby for Sale

    • $1,499,999
      7,200 SF

      Forsyth Medical Office Building

      7,200 SF Medical Office, 8.14% Cap Rate
      845 Us-51, Forsyth, IL 62535
      View Details
    • $1,499,000

      Medical Office Space For Sale

      7200 SF medical office on 1.28 acres, Forsyth, Illinois.
      845 Route 51 S, Forsyth, IL 62535
      View Details
    • $750,000

      Land For Sale Forsyth, IL

      Land available for sale in Forsyth, Illinois.
      Hickory Point Mall, Forsyth, IL 62535
      View Details
    • $1,299,000
      6,762 SF

      Forsyth, IL Multi-Tenant Investment

      High-yield, 100% occupied, 4-unit building.
      849 Hwy 51, Forsyth, IL 62535
      View Details
    • $250,000

      Forsyth, IL Development Opportunity

      2.7 acre lot in Forsyth's retail corridor.
      401 West Hickory Point Rd, Forsyth, IL 62535
      View Details
    • $600,000
      4.07 Acres

      Forsyth Development Land - Route 51

      Prime 4.07-acre residential lot, excellent location.
      0 Us Highway 51, Decatur, IL 62535
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      45,689 SF

      Forsyth Medical Office Space Available

      Prime Macon County medical suites, various sizes.
      241 Weaver Rd, Forsyth, IL 62535
      View Details
    • Contact for pricing
      808,623 SF

      Hickory Point Mall Retail Space

      Decatur, IL Retail Opportunity: 27 Spaces Available
      1146 Hickory Point Mall, Forsyth, IL 62535
      View Details
    • Contact for pricing
      10,000 SF

      Retail Space Near Interstate 72

      Retail space available near major retailers and transportation routes.
      1146 Hickory Point Rd, Forsyth, IL 62535
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    338 Marion Ave
    Forsyth, IL 62535-1064
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.