Manufacturing Facility With Loading
New
For Sale
$3,700,000
2803 22nd Street, Decatur, IL 62526
M-2-zoned industrial building with attached offices and full occupancy.
Property Size52,000 SF
Price / SF$71.15
Days on Market4
Property Features for 2803 22nd Street
General Information
Standard status
Active
Size
52,000 SF
Total Parking Spaces
12
Zoning
M-2
Occupancy
100%
Warehouse & Industrial
Dock-High Doors
3
Drive-In Doors
3
Taxes and HOA fees
Annual Taxes
$24,322
Amenities
One
yes
1
Gas Water Heater
Central Air
Floor Furnace, Radiant
Kitchen Facilities, Lunchroom, Overhead Doors, Railroad Siding
Public Records
Metal
Public Sewer
3 Phase, 200+ Amp Service
no
Public
10.7
12
Acres
On Site
Fence
Gravel, Other
Slab
466092
Stucco, Steel
Building Details
Year Built
1980
Stories
1
Building Size
52,000 SF
Listing Agency:
(217) 820-0182
Listed By:
Josh Burgener
(217) 820-0182
Source:
Jburgenerrealty.idxbroker
Added: Aug 25
Changed: Aug 28
Last Checked: Aug 28 at 11:11AM
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 Josh Burgener
Investment Insights
Based on property information with market context.
This 52,000-square-foot manufacturing facility in Decatur, Illinois, was built in 1980 and is configured for industrial operations. The building includes attached office space, kitchen facilities, a lunchroom, overhead doors, and a railroad siding. A combination of central air, floor furnace, and radiant heating systems serves the property.
Loading infrastructure includes three dock-high doors and three overhead doors. The property has M-2 zoning, 100% occupancy, three-phase power with 200+ amp service, public water and sewer, and an on-site fenced area. These features support manufacturing and distribution functions within an established industrial building.
Loading infrastructure includes three dock-high doors and three overhead doors. The property has M-2 zoning, 100% occupancy, three-phase power with 200+ amp service, public water and sewer, and an on-site fenced area. These features support manufacturing and distribution functions within an established industrial building.
Key Highlights
- 52,000 SF manufacturing facility built in 1980
- M‑2 zoning with 100% occupancy
- 3 dock‑high doors and 3 overhead doors
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
$337,166
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
9.11%
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%
$6,743,320
$6.7M
Cap Rate 7%
$4,816,657
$4.8M
Cap Rate 9%
$3,746,289
$3.7M
Market Conditions
NOI Build-Up for 52,000 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
$517.9K $9.96/SF
− Vacancy
−$36.3K −$0.70/SF
EGI
$481.7K $9.26/SF
− OpEx
−$144.5K −$2.78/SF
NOI
$337.2K $6.48/SF
Area
Macon County, IL
Vacancy
7.00%
Lease Rate
$9.96 /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%
$6,743,320
Cap Rate 7%
$4,816,657
Cap Rate 9%
$3,746,289
Alternative Uses
Best Use
Warehouse
$5.85M
$5.12M – $6.82M
NOI $409,416 @ 7.0% cap · market cap 11.07%
Second Best
Industrial
$4.82M
$4.21M – $5.62M
NOI $337,166 @ 7.0% cap · market cap 9.11%
Theoretical Best
Specialty Retail
$8.73M
$7.64M – $10.19M
NOI $611,395 @ 7.0% cap · market cap 16.52%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Dock-high doors
3
Drive-in doors
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
336
Businesses Nearby
Explore this area
Business Placement
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
Market
Vacancy Rate% for Industrial 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?
Manufacturing property - M-2-zoned industrial building with attached offices and full occupancy.
Where is this manufacturing property located?
The property is located at 2803 22nd Street Decatur, IL.
What is the asking price?
The asking price for this property is $3,700,000.
What are key features of this property?
This property features: 52,000 SF manufacturing facility built in 1980; M‑2 zoning with 100% occupancy; 3 dock‑high doors and 3 overhead doors
