7650 Magna DrBelleville, IL 62223

Property Details for 7650 Magna Dr

Year built

1996

Construction

STEEL FRAME

Lot size

14.61 AC

Property size (Sq ft)

82,500 SF

Property type

Commercial real estate

APN

07-11-0-408-006

APU

7110408006

Description

Midamerica Corporate Center, located at the intersection of Route 13 and Route 15 in Belleville, Illinois, offers exceptional office space for lease. This prominent building boasts a total of 64,120 square feet, currently entirely vacant and divisible into units ranging from 2,542 to 34,934 contiguous square feet. The second floor offers even greater flexibility, with a maximum of 59,299 square feet available, or the potential to lease the entire floor (77,338 square feet). The property benefits from its location within both an Enterprise Zone and a Tax Increment Financing (TIF) District. Superior ingress and egress are ensured, complemented by ample surface parking (777 spaces, with the possibility of expansion to 8 spaces per 1,000 square feet). On-site amenities include a convenient "Grab N' Go" micromart offering beverages and snacks. The building is equipped with a backup generator and an expansive loading dock. High visibility building signage is available, capitalizing on the high traffic volume of over 41,000 vehicles daily. Lease rates are competitive, starting at $12.00 per square foot, full-service, for first-floor spaces (with minimal window access), and $16.00 per square foot, full-service, for second-floor spaces. This presents a unique opportunity for businesses seeking large, high-quality office space in the Southern Illinois market, managed by a professional team.

• CAP approach

  CAP return

  Valuation

  6%

  $21,372,100

  6.5%

  $19,728,100

  7%

  $18,319,000

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,431,700

  Geo Method

  $6,431,700

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $38,759,100

  Retail / Commercial

  $19,891,300

  Mixed-Use / Specialty

  $19,832,900

  Hospitality / Lodging

  $14,567,000

  Office

  $19,728,100

  Institutional / Educational

  $20,622,700

  Residential Income

  $24,128,600

  Multifamily

  $28,869,300

  Automotive / Energy

  $17,676,600

  Parking / Income-Based Land

  $6,087,640

  Restaurant / Food Service

  $10,341,900

  Healthcare / Senior Housing

  $20,325,500

Location Insight

City

Belleville

County

St. Clair

State

Illinois

Latitude

38.5456

Longitude

-90.061

CBSA code

41180

CBSA name

ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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