Decatur Retail Strip
For Sale
Contact for pricing
1423 E Mound Rd, Decatur, IL
6,000 SF retail center in Decatur, Illinois for sale.
Property Size6,000 SF
Lot Size0.69 Acres
Price / SF$108.33
Days on Market259
Property Features for 1423 E Mound Rd
General Information
Standard status
Active
Size
6,000 SF
Lot size
0.69 Acres
Property subtype
RETAIL
Listing Agency:
Main Place Real Estate
(217) 454-8800
Listed By:
Zane Peterson · License #471020044
(217) 454-8800
Source:
Moodyscre
Added: Nov 25, 2025
Changed: Aug 8
Last Checked: Aug 8 at 5:04AM
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 Main Place Real Estate
Investment Insights
Based on property information with market context.
This retail opportunity is located at 1423-1427 E Mound Rd, Decatur, IL. The property features a 6,000 SF retail strip center. Zoned B3, the property offers versatility for various business ventures. Located in the thriving Decatur area, this property presents a strategic investment with high visibility and substantial potential for commercial success.
Key Highlights
- High visibility location in the thriving Decatur area.
- 6,000 SF retail/strip center.
- Zoned B3, offering versatility for various business ventures.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$53,888
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.29%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,077,760
$1.1M
Cap Rate 7%
$769,829
$769.8K
Cap Rate 9%
$598,756
$598.8K
Market Conditions
NOI Build-Up for 6,000 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$79.2K $13.20/SF
− Vacancy
−$2.2K −$0.37/SF
EGI
$77.0K $12.83/SF
− OpEx
−$23.1K −$3.85/SF
NOI
$53.9K $8.98/SF
Area
Macon County, IL
Vacancy
2.80%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,077,760
Cap Rate 7%
$769,829
Cap Rate 9%
$598,756
Alternative Uses
Best Use
Retail
$769.8K
$673.6K – $898.1K
NOI $53,888 @ 7.0% cap · market cap 8.29%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.01M
$881.8K – $1.18M
NOI $70,546 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
222
Businesses Nearby
131k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 50%
Dining 30%
Shops & Services 15%
Electronics 4%
Target
Superstores
65,391 visits/mo
0.3 miles
Starbucks
Dining
21,605 visits/mo
0.3 miles
Thorntons
Shops & Services
19,592 visits/mo
0.2 miles
Olive Garden
Dining
17,094 visits/mo
0.2 miles
Verizon
Electronics
4,736 visits/mo
0.3 miles
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Strip mall - 6,000 SF retail center in Decatur, Illinois for sale.
Where is this strip mall located?
The property is located at 1423 E Mound Rd Decatur, IL.
What is the asking price?
The asking price for this property is $650,000.
What are key features of this property?
This property features: High visibility location in the thriving Decatur area.; 6,000 SF retail/strip center.; Zoned B3, offering versatility for various business ventures.
