2008 Vandalia St
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2008 Vandalia St
2,172 SF 54% Leased Office Building Collinsville, IL 62234 $199,000 ($92/SF) 1.21% Cap Rate
Executive Summary
Financials based on Jan 2024 - August 2024 numbers with Suite #1 (largest main floor unit currently vacant) brining in an additional $900/mo. Current negative NOI will not allow for cap rate so 1% is used. This building would be best suited for a owner occupied user. Seller willing to finance pending on buyers financials.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$28,800
|
$13.26
|
| Other Income |
$2,948
|
$1.36
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$31,748
|
$14.62
|
| Taxes |
$5,927
|
$2.73
|
| Operating Expenses |
$24,072
|
$11.08
|
| Total Expenses |
$29,999
|
$13.81
|
| Net Operating Income |
$1,749
|
$0.81
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $28,800 |
| Annual Per SF | $13.26 |
| Other Income | |
|---|---|
| Annual | $2,948 |
| Annual Per SF | $1.36 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $31,748 |
| Annual Per SF | $14.62 |
| Taxes | |
|---|---|
| Annual | $5,927 |
| Annual Per SF | $2.73 |
| Operating Expenses | |
|---|---|
| Annual | $24,072 |
| Annual Per SF | $11.08 |
| Total Expenses | |
|---|---|
| Annual | $29,999 |
| Annual Per SF | $13.81 |
| Net Operating Income | |
|---|---|
| Annual | $1,749 |
| Annual Per SF | $0.81 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Office
Building Size
2,172 SF
Building Class
B
Year Built
1986
Price
$199,000
Price Per SF
$92
Cap Rate
1.21%
NOI
$2,400
Percent Leased
54%
Building Height
1 Story
Typical Floor Size
2,172 SF
Building FAR
0.44
Lot Size
0.11 AC
PROPERTY TAXES
| Parcel Number | 13-2-21-22-12-203-013 | Total Assessment | $90,060 (2023) |
| Land Assessment | $14,510 (2023) | Annual Taxes | $5,927 ($2.73/SF) |
| Improvements Assessment | $75,550 (2023) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
13-2-21-22-12-203-013
Land Assessment
$14,510 (2023)
Improvements Assessment
$75,550 (2023)
Total Assessment
$90,060 (2023)
Annual Taxes
$5,927 ($2.73/SF)
Tax Year
2024 Payable 2024
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2008 Vandalia St
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