8223 Expy Dr Marion, IL 62959-5874
- Office Properties & Spaces
- 1.27 lot acres
Current Use by Public Records
- Office Properties & Spaces
Property Details for 8223 Expy Dr
- Lot size
- 1.27 lot acres
- Property type
- Office Properties & Spaces
- APN
- 06-08-451-005
- APU
- 608451005
Description
Exceptional investment opportunity: a fully occupied, 8,000-square-foot office building in Marion, Illinois, commanding a strong 8.65% cap rate. This single-tenant property, built in 2013, is leased to the U.S. Department of Mine Safety and Health Administration (MSHA) under a modified lease with a five-year renewal option exercised by the General Services Administration (GSA), extending the lease through May 15, 2028. The building serves as a mission-critical facility for MSHA inspectors, equipped with a dedicated space for specialized equipment used in mine safety inspections. Situated within the Williamson County Airport Business Park at the Veterans Airport of Southern Illinois, this well-maintained masonry structure benefits from a long-term ground lease extending to November 5, 2029, with four ten-year renewal options. The airport's significant economic impact on the region further enhances the property's value. The asking price is $1,025,000, reflecting a price per square foot of $128.12 and a Net Operating Income (NOI) of $88,666. This investment offers the security of a U.S. Government tenant (AA+ S&P credit rating) and the potential for substantial long-term returns. The property is located at 8223 Express Dr, Marion, IL 62959.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Marion
- County
- Williamson
- State
- Illinois
- Longitude
- -89.0064
- Latitude
- 37.7456
- CBSA code
- 16060
- CBSA name
- CARBONDALE-MARION, IL METROPOLITAN STATISTICAL AREA
