Family Dollar Investment
1315 N Water St, Decatur, IL 62526
For Sale
Contact for pricing
NNN leased Family Dollar with strong corporate guarantee.
Property Size14,490 SF
Price / SF$213.94
Days on Market252
Property Features for 1315 N Water St
General Information
Standard status
Size
Class
Property subtype
Occupancy
Lease Type
Net Operating Income
Building Details
Year Built
Buildings
Stories
Tenancy
Listing Agency:
Matthews
Listed By:
Grant Klepadlo · License IL 475.216011
(773) 598-8642
Source:
Crexi
Added: Mar 3
Changed: Aug 8
Last Checked: Aug 8 at 3:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matthews
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This commercial property, currently operating as a Family Dollar store since 2019, presents an investment opportunity with approximately 4.4 years of remaining lease term. The lease is guaranteed by Walgreens, providing strong corporate credit. Offered at a 9.87% cap rate, the property provides compelling cash flow. Situated along a primary retail corridor with a traffic count of 35,200 vehicles per day, the location offers strong visibility and consistent consumer exposure. The store's foot traffic ranks in the top half of the chain’s national portfolio, demonstrating solid unit-level performance. The surrounding area has a solid population base of over 11,400 residents within one mile and nearly 94,000 within five miles. The trade area has experienced a growth of 3.9% over the past five years, supporting long-term retail demand. The property is 14,490 square feet and is located in Decatur, IL.
Key Highlights
- Lease guaranteed by Walgreens, providing strong corporate credit.
- Attractive Going‑In Yield** – Offered at a 9.87% cap rate with an asking price of $3.1 million.
- High‑Traffic Retail Corridor** – 35,200 vehicles per day; store foot traffic ranks in the top half of the chain’s national portfolio.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$170,368
Cap Rate
5.50%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,407,360
$3.4M
Cap Rate 7%
$2,433,829
$2.4M
Cap Rate 9%
$1,892,978
$1.9M
Market Conditions
NOI Build-Up for 14,490 SF
Gross rent
$246.9K $17.04/SF
− Vacancy
−$19.8K −$1.36/SF
EGI
$227.2K $15.68/SF
− OpEx
−$56.8K −$3.92/SF
NOI
$170.4K $11.76/SF
Area
Macon County, IL
Vacancy
8.00%
Lease Rate
$17.04 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,407,360
Cap Rate 7%
$2,433,829
Cap Rate 9%
$1,892,978
Alternative Uses
Best Use
Specialty Retail
$2.43M
$2.13M – $2.84M
NOI $170,368 @ 7.0% cap · market cap 5.50%
Second Best
Retail
$1.86M
$1.63M – $2.17M
NOI $130,139 @ 7.0% cap · market cap 4.20%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
388
Businesses Nearby
12k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Shell
Shops & Services
6,517 visits/mo
0.1 miles
Family Dollar
Shops & Services
5,221 visits/mo
0.1 miles
Safelite AutoGlass
Shops & Services
534 visits/mo
0.1 miles
Demographics for 62526, IL
31,758
Population
16,425
Households
1.9
Avg Household Size
41
Median Age
20%
College-Educated
92%
High-School Grad
66.0 sq mi
ZIP Area
481
Density / Sq Mi
$48,222
Median Household Income
$39,048
Median Earnings
$785
Median Rent
$91,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - NNN leased Family Dollar with strong corporate guarantee.
Where is this grocery and convenience store located?
The property is located at 1315 N Water St Decatur, IL.
What is the asking price?
The asking price for this property is $3,100,000.
What are key features of this property?
This property features: Lease guaranteed by Walgreens, providing strong corporate credit.; Attractive Going‑In Yield** – Offered at a 9.87% cap rate with an asking price of $3.1 million.; High‑Traffic Retail Corridor** – 35,200 vehicles per day; store foot traffic ranks in the top half of the chain’s national portfolio.
