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Decatur Office Investment Opportunity

405-427 E Ash Ave, Decatur, IL

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For Sale

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Office building for sale with three of four suites occupied.

Type:OFFICE

Property size:

11,469 SF

Lot size:

0.74 Acres

Price / SF:

$105/SF

HighLights

Office investment building with three of four suites currently occupied by tenants.
Roof replaced in 2020.
Suites at 405 & 427 E. Ash Ave have undergone extensive renovations.
Constructed in 1997 and updated in recent years.
Suite 419 E. Ash Ave is available with 1,029 SF, reception area, 3 private offices, and shared restrooms & server room.
Opportunity to purchase adjacent property at 365 – 385 E. Ash Ave.

We can help!

Listing Contact

AJ Thoma III

For Sale

Contact for pricing

Office building for sale with three of four suites occupied.

Type:OFFICE

Property size:

11,469 SF

Lot size:

0.74 Acres

Price / SF:

$105/SF

Added:: Jan 6, 2025
Days on Market:: 525
Last Refresh:: Apr 5 at 9:31 pm

Property Features for 405-427 E Ash Ave

General Information

Standard status: Active
Size: 11,469 SF
Lot size: 0.74 Acres
Property subtype: OFFICE

Properties For Sale

at 405-427 E Ash Ave Contact us

We can help!

Listing Contact

AJ Thoma III

Listing agent AJ Thoma III

Listing office Coldwell Banker Commercial Devonshire Realty

Listing date Jan 6, 2025

Source Moodyscre

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 Coldwell Banker Commercial Devonshire Realty

HighLights

Office investment building with three of four suites currently occupied by tenants.
Roof replaced in 2020.
Suites at 405 & 427 E. Ash Ave have undergone extensive renovations.
Constructed in 1997 and updated in recent years.
Suite 419 E. Ash Ave is available with 1,029 SF, reception area, 3 private offices, and shared restrooms & server room.
Opportunity to purchase adjacent property at 365 – 385 E. Ash Ave.

Overview

This office investment building in Decatur was constructed in 1997 and has been updated in recent years. Three of the four suites are currently occupied. Great Lakes Psychology occupies 405 E. Ash Ave; Tharaldson Hospitality Management occupies 415 E. Ash Ave; and Lighthouse Autism Center occupies 427 E. Ash Ave. Suite 419 E. Ash Ave is currently available, offering 1,029 square feet with a reception area, three private offices, and shared restrooms and a server room with 415 E. Ash Ave. Suites 405 and 427 E. Ash have undergone extensive renovations in recent years and have new regional tenants. The roof was replaced in 2020. The property offers a total size of 11,469 square feet.

Local Financial Insights For Office B

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$144.5k	$12.60
− Vacancy	−$23.1k	−$2.02
EGI	$121.4k	$10.58
− OpEx	−$30.3k	−$2.65
NOI	$91.0k	$7.94

11,469 SF · lease $12.60/SF/yr · vacancy 16.00% · expense 25.00%

Alternative Uses

Best Use

Office B

$1.30M

$1.14M – $1.52M (±1% cap)

NOI $91,041 @ 7.0% cap · market cap 7.52%

Second Best

Healthcare Medical

$1.29M

$1.13M – $1.51M (±1% cap)

NOI $90,318 @ 7.0% cap · market cap 7.46%

Theoretical Best

Specialty Retail

$1.93M

$1.69M – $2.25M (±1% cap)

NOI $134,848 @ 7.0% cap · market cap 11.13%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Office buildings

Suggested Use

Location Insight

Map
Local Demand

City: Decatur
County: Macon
State: Illinois
Longitude: -88.9612
Latitude: 39.8982

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Decatur Office Building For Sale

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355-385 E Ash Ave, Decatur, IL

View Details

For sale
Office buildings
IL
Decatur
405-427 E Ash Ave

What type of property is this?

Office building - Office building for sale with three of four suites occupied.

Where is this office building located?

The property is located at 405-427 E Ash Ave Decatur, IL.

What is the asking price?

The asking price for this property is $1,211,306.

What are key features of this property?

This property features: Office investment building with three of four suites currently occupied by tenants.; Roof replaced in 2020.; Suites at 405 & 427 E. Ash Ave have undergone extensive renovations.

405-427 E Ash Ave, Decatur, IL

Office building for sale with three of four suites occupied.

Property Features for 405-427 E Ash Ave

General Information

Properties For Sale

We can help!

HighLights

Overview

Local Financial Insights For Office B

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Location Insight

Nearby Similar for Sale

Historic Three-Story Mixed-Use Building

Family Dollar Retail Investment Opportunity

Mixed-Use Property with Income Potential

Historic Mixed-Use Investment Opportunity

Adaptable Commercial Building on Large Site

Decatur Bar and Billiards Venue

Retail Space Available For Lease

Decatur Medical/Professional Office Building

Medical Office Building For Sale

Medical Office Building For Sale

Decatur Commercial Investment Opportunity

Decatur Office Building For Sale

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