Two-Tenant Strip
New
For Sale
$1,582,000
757 W Pershing Rd, Decatur, IL 62526
Renovated retail center with specialized office, classroom, and workforce-service improvements.
Property Size12,883 SF
Price / SF$122.80
Days on Market2
Property Features for 757 W Pershing Rd
General Information
Standard status
Active
Size
12,883 SF
Property subtype
Shopping Strip
Occupancy
100%
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Cap Rate
9%
Amenities
Two 2025 Leases with Five Years of Term and Contractual Rent Growth | 100 Percent Occupied Two-Tenant Center
Workforce Investment Solutions has Occupied the Property for Approximately 15 Years Through a Sublease Agreement with the State of Illinois Before Becoming a Direct Tenant in 2025
GEO is Responsible for 74 Percent of the Rent and is a Wholly Owned Subsidiary of Publicly Traded the GEO Group
Extensive Property Renovations were Completed in 2025, Followed by a New Roof in 2026 with a 20-Year Warranty
Part of a Larger Center Anchored by Memorial Therapy Center | Walgreens is Positioned Next to the Center
The Specialized Floor Plan Includes Classrooms, Offices, a PC Lab, Work and Resource Areas, And Reception/Waiting Space, Creating a Tailored Operating Environment that Makes Relocation More Complicated than a Traditional Office Setup
Frontage Along W Pershing Road, which Sees 17,300 Vehicles Per Day
Building Details
Building Size
12,883 SF
Year Built
1978
Year Renovated
2025
Tenancy
Multi
Listing Agency:
Marcus & Millichap | Chicago Oak Brook
(630) 570-2238
Listed By:
Sean Sharko · License #License(s): IL: 471.010712
(630) 570-2238
Source:
Marcusmillichap
Added: Aug 21
Changed: Aug 22
Last Checked: Aug 22 at 4:05AM
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 Marcus & Millichap | Chicago Oak Brook
Investment Insights
Based on property information with market context.
This two-tenant strip mall contains 12,883 square feet and was extensively renovated in 2025. The interior includes classrooms, offices, conference and classroom areas, a PC lab, work areas, resource areas, reception, and waiting areas. A new roof was installed in 2026 with a 20-year warranty. GEO Reentry Services and Workforce Investment Solutions each signed five-year leases in 2025, with one five-year renewal option and scheduled increases ranging from 2 percent to 3 percent. The property is 100 percent occupied and carries a 9.00% cap rate.
The center is positioned on West Pershing Road, which records 17,300 VPD, and is 0.7 miles from U.S. Route 51, reporting 10,800 VPD. Walgreens is adjacent, while other center tenants include Luxury Nails & Spa, Heights Finance, and Help at Home. Memorial Therapy Center, an extension of Memorial Hospital, is 0.8 miles south and has 280 beds. Brettwood Village Shopping Center is nearby and attracts approximately 2.1 million annual visitors.
Most exterior third-party services are provided through an easement agreement with the neighboring owner. Workforce Investment Solutions has operated at the property for approximately 15 years, including through a prior sublease with the State of Illinois before becoming a direct tenant in 2025.
The center is positioned on West Pershing Road, which records 17,300 VPD, and is 0.7 miles from U.S. Route 51, reporting 10,800 VPD. Walgreens is adjacent, while other center tenants include Luxury Nails & Spa, Heights Finance, and Help at Home. Memorial Therapy Center, an extension of Memorial Hospital, is 0.8 miles south and has 280 beds. Brettwood Village Shopping Center is nearby and attracts approximately 2.1 million annual visitors.
Most exterior third-party services are provided through an easement agreement with the neighboring owner. Workforce Investment Solutions has operated at the property for approximately 15 years, including through a prior sublease with the State of Illinois before becoming a direct tenant in 2025.
Key Highlights
- 12,883‑square‑foot two‑tenant strip mall with 100 percent occupancy
- Extensive 2025 renovation and 2026 roof installation with a 20‑year warranty
- Both tenants signed five‑year leases in 2025 with one five‑year renewal option
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
$115,706
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
7.31%
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%
$2,314,120
$2.3M
Cap Rate 7%
$1,652,943
$1.7M
Cap Rate 9%
$1,285,622
$1.3M
Market Conditions
NOI Build-Up for 12,883 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
$170.1K $13.20/SF
− Vacancy
−$4.8K −$0.37/SF
EGI
$165.3K $12.83/SF
− OpEx
−$49.6K −$3.85/SF
NOI
$115.7K $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%
$2,314,120
Cap Rate 7%
$1,652,943
Cap Rate 9%
$1,285,622
Alternative Uses
Best Use
Retail
$1.65M
$1.45M – $1.93M
NOI $115,706 @ 7.0% cap · market cap 7.31%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$2.16M
$1.89M – $2.52M
NOI $151,473 @ 7.0% cap · market cap 9.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
864
Businesses Nearby
52k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 46%
Dining 39%
Home Improvements & Furnishings 16%
Wendy's
Dining
15,424 visits/mo
0.5 miles
Circle K
Shops & Services
13,334 visits/mo
0.4 miles
Dollar General
Shops & Services
8,404 visits/mo
0.3 miles
Harbor Freight Tools
Home Improvements & Furnishings
8,340 visits/mo
0.3 miles
Perkins Restaurant & Bakery
Dining
4,777 visits/mo
0.0 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
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 - Renovated retail center with specialized office, classroom, and workforce-service improvements.
Where is this strip mall located?
The property is located at 757 W Pershing Rd Decatur, IL.
What is the asking price?
The asking price for this property is $1,582,000.
What are key features of this property?
This property features: 12,883‑square‑foot two‑tenant strip mall with 100 percent occupancy; Extensive 2025 renovation and 2026 roof installation with a 20‑year warranty; Both tenants signed five‑year leases in 2025 with one five‑year renewal option
