4900 Main StBelleville, IL 62226

Property Details for 4900 Main St

Lot size

0.34 AC

Property size (Sq ft)

4,640 SF

Property type

Commercial real estate

APN

08-07-0-421-012

APU

8070421012

Description

This exceptional single-tenant medical office building presents a compelling investment opportunity in Belleville, Illinois. The 4,640 square foot property, built in 1985, boasts a 100% occupancy rate with a strong, creditworthy tenant, ECP Ophthalmology LLC (a subsidiary of Eye Care Partners), under a Net Lease (NN+) agreement with two years remaining. The asking price is $515,446, representing a compelling $111 per square foot and a 9.00% capitalization rate with a current NOI of $46,400. The property benefits from a recently completed lease extension and is currently undergoing a roof replacement, expected to be finished by the end of 2024. This investment offers significant advantages, including resilience to e-commerce disruption inherent in the healthcare sector and the backing of a large, established national healthcare provider, Eye Care Partners, with over 1,000 providers nationwide. The robust growth projections for the US and global eyecare market further solidify this investment's long-term potential. Located at 4900 W Main St, Belleville, IL 62226, this property is a rare opportunity to acquire a stable, high-yielding asset in a growing industry. The property is a single-story building situated on a single lot.

• CAP approach

  CAP return

  Valuation

  6%

  $1,202,020

  6.5%

  $1,109,560

  7%

  $1,030,300

• Comparable approach

  Method

  Valuation

  Relative Method

  $361,734

  Geo Method

  $361,734

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $2,179,910

  Retail / Commercial

  $1,118,740

  Mixed-Use / Specialty

  $1,115,450

  Hospitality / Lodging

  $819,286

  Office

  $1,109,560

  Institutional / Educational

  $1,159,870

  Residential Income

  $1,357,050

  Multifamily

  $1,623,680

  Automotive / Energy

  $994,175

  Parking / Income-Based Land

  $342,384

  Restaurant / Food Service

  $581,654

  Healthcare / Senior Housing

  $1,143,150

Location Insight

City

Belleville

County

St. Clair

State

Illinois

Latitude

38.5431

Longitude

-90.0283

CBSA code

41180

CBSA name

ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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