For Sale
$1,933,000

2421 Corporate Ctr Granite City, IL 62040

High-yield office building, 86% occupied

Overview

Added:
Dec 11, 2024
Days on market:
132
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.

Highlights

  • Class B, two-story office building totaling 25,000 square feet (20,083 net rentable) in Granite City, IL.
  • 86% occupancy with anchor tenants Bethany (25%) and Clarkson Eye Care (22%), offering growth potential.
  • Prime St. Louis area location in a professional office park with convenient Interstate 270 access.

Property Details for 2421 Corporate Ctr

Property type
Office properties
Square Feet
25,000 SF
Class
B
Year Built/Renovated
1979/1999
Stories
2
Lot Size (sq. ft)
107,593 SF

Location Insight

City
Granite City
County
Madison
State
Illinois
Latitude
38.7298205
Longitude
-90.10145

FAQs

What type of property is this?
Office property - High-yield office building, 86% occupied
Where is the office property located?
The property is located at 2421 Corporate Ctr Granite City, IL.
What is the asking price?
The asking price for this property is $1,933,000.
What are key features of this property?
This property features: Class B, two-story office building totaling 25,000 square feet (20,083 net rentable) in Granite City, IL.; 86% occupancy with anchor tenants Bethany (25%) and Clarkson Eye Care (22%), offering growth potential.; Prime St. Louis area location in a professional office park with convenient Interstate 270 access.
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2421 Corporate Ctr
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