Listed by Sands Investment Group
$525,000
103 Airway Dr - The Airway Drive Portfolio
Details
Property Type Retail, Office
Sub Type Storefront, Traditional Office
Square Footage 5,258
Cap Rate 7.49%
NOI $39,315
Occupancy 100%
Tenancy Multi
Price per SqFt $100
Acreage 0.820
Ground Lease No
103 Airway Dr | 7.49% | Multi Tenant
Marketing description
Sands Investment Group is pleased to exclusively offer for sale the 5,258 SF Airway Drive Portfolio in Marion, IL. The property benefits from a diversified tenant mix, including Pearson VUE Testing Center and Stiles Office Technology, reducing reliance on a single occupant and enhancing income stability.
Investment highlights
- Accessible Price Point: Attractive pricing at approximately $100 PSF.
- Diversified Income Streams: The property benefits from a diversified tenant mix, including Pearson VUE Testing Center and Stiles Office Technology, reducing reliance on a single occupant and enhancing income stability.
- Value-Add Potential: The 1,450 SF space was recently vacated, leaving the asset at a 72% occupancy, which is a prime opportunity for increased income through leasing.
- Historical Occupancy: Pearson Testing Center has been a tenant at the site since 2002.
- Tenant Strength: Pearson is a global leader in computer-based testing and professional credentialing services for hundreds of organizations across industries, including healthcare, information technology, finance, education, and public service.
- Corporate Credit: The Pearson Testing Center is guaranteed by NCS Pearson INC, the firm’s corporate entity.
- National and Regional Presence: Pearson VUE operates its 240 Professional Testing Centers nationwide, while Stiles Office Solutions is a regional office technology and supply company based in Carbondale, Illinois, serving the surrounding region.
- Long-Term Tenancy: Pearson lease features 1, 3 year option. The Stiles Office Technology lease expires in 2028 with 2 negotiable options.
Listing Contacts
Listed by Sands Investment Group
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Loan Amount
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Annual Debt Service
$--
$--
Annual Cash Flow
$39,315.00
$3,276.25/mo
Valuation Metrics
0
DSCR
7.49%
Cap Rate
7.49%
ROI
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