High-Traffic Commercial Property For
For Sale
Contact for pricing
375 N 22ND ST, Decatur, IL 62521
Commercial property suitable for retail or office use in Decatur.
Property Size613 SF
Price / SF$105.87
Days on Market109
Property Features for 375 N 22ND ST
General Information
Standard status
Active
Size
613 SF
Total Parking Spaces
35
Property subtype
Retail
Zoning
COM
Investment Type
Owner/User
Building Details
Year Built
1925
Year Renovated
2024
Units
1
Listing Agency:
Brinkoetter Realtors
(217) 620-1843
Listed By:
Austin Deaton · License #475198953
Source:
Crexi
Added: May 14
Changed: Aug 8
Last Checked: Aug 28 at 10:08AM
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 Brinkoetter Realtors
Investment Insights
Based on property information with market context.
This commercial property is located at a high-traffic 5-point intersection, offering a prime opportunity for retail or office use with high visibility. The property benefits from strong daily traffic counts, providing maximum exposure for businesses. The location is ideal for retail, office, or service-based users, offering excellent accessibility and convenience. It is surrounded by established businesses and is minutes from key amenities, positioning it to attract steady customer traffic. The property size is 613 square feet.
Key Highlights
- High‑traffic location at a 5‑point intersection.
- Strong daily traffic counts for maximum business exposure.
- Ideal for retail, office, or service‑based businesses.
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
$5,506
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
8.48%
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%
$110,120
$110.1K
Cap Rate 7%
$78,657
$78.7K
Cap Rate 9%
$61,178
$61.2K
Market Conditions
NOI Build-Up for 613 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
$8.1K $13.20/SF
− Vacancy
−$227 −$0.37/SF
EGI
$7.9K $12.83/SF
− OpEx
−$2.4K −$3.85/SF
NOI
$5.5K $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%
$110,120
Cap Rate 7%
$78,657
Cap Rate 9%
$61,178
Alternative Uses
Best Use
Retail
$78.7K
$68.8K – $91.8K
NOI $5,506 @ 7.0% cap · market cap 8.48%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$103.0K
$90.1K – $120.1K
NOI $7,207 @ 7.0% cap · market cap 11.10%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
200
Businesses Nearby
65k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 45%
Dining 44%
Groceries 10%
Electronics 1%
McDonald's
Dining
22,484 visits/mo
0.3 miles
Huck's
Shops & Services
10,664 visits/mo
0.1 miles
Save-A-Lot
Groceries
6,613 visits/mo
0.1 miles
Dollar General
Shops & Services
5,551 visits/mo
0.0 miles
BP
Shops & Services
4,167 visits/mo
0.3 miles
Demographics for 62521, IL
33,793
Population
16,169
Households
2.1
Avg Household Size
44
Median Age
22%
College-Educated
91%
High-School Grad
66.0 sq mi
ZIP Area
512
Density / Sq Mi
$66,848
Median Household Income
$41,945
Median Earnings
$857
Median Rent
$119,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial property suitable for retail or office use in Decatur.
Where is this retail space located?
The property is located at 375 N 22ND ST Decatur, IL.
What is the asking price?
The asking price for this property is $64,900.
What are key features of this property?
This property features: High‑traffic location at a 5‑point intersection.; Strong daily traffic counts for maximum business exposure.; Ideal for retail, office, or service‑based businesses.
