Office Building Investment Property - CAP Rate: 10.4%
$250,000
Listing Resources
Listing Description
10.4 Cap Rate. Investment Property. 5 year lease with personal guarantee.
3,140 SF of professional office space consisting of 3 private offices, large open bull-pen area, training & clerical room and 2 storage closets. Remodeled in 2020 with new lighting, electrical, plumbing, HVAC (2 units), kitchen upgrades, windows (with shades), flooring, ceiling tiles, 2 restrooms (1 ADA), walls repaired and centralized IT location. Exterior improvements include new landscaping, pylon signage, parking lot resurface, lights, ADA entrance and new sewer line to the main line.
Located 1/3 mile East of Frank Scott Parkway and 1/3 mile West of the Intersection of North Belt and West Main St.
Sale Price: $250,000
Listing Details
Listing No : 3087
Sale Or Lease : For Sale
Property Type(s) : Office
Building Size (Sqft) : 3,140 Sqft
Lot Size (Acres) : 0.41 Acre(s)
Sale Price : $250,000
Sale Price Per Sqft : $79.61
CAP Rate : 10.40%
NOI : $26,018
Building Total Sqft : 3,140 Sqft
Parcel No : 08-07.0-421-059
Zoning : C-2 Heavy Commercial
TIF : Yes
Parking : 30
Parking Surface Type : Asphalt
Tax Year : 2025
Traffic Count : 8,150
Year Built : 1978
Rehab Year : 2020
Class : B
Clearance Min : 9 ft
Clearance Max : 14 ft
Exterior : Brick
Acres : 0.41 Acre(s)
Frontage : 150 ft
Depth : 120 ft
Water Provider : Illinois American
Water Provider Location : On Site
Sewer Provider : City of Belleville
Sewer Provider Location : On Site
Gas Provider : Ameren
Gas Provider Location : On Site
Electric Provider : Ameren
Electric Provider Location : On Site
Telecom Provider : Charter/Spectrum
Gross Rental Income : $48,000
Insurance : $4,909
Utilities : $6,308
Property Management : $5,211
-
Matt
Barriger
- Office: 618-277-4400 Ext. 17
- Mobile: 618-973-5507
- mattb@barbermurphy.com