Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2882 N Dinneen St Decatur, IL 62526

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    Spacious 14,000+ sq ft property on 8+ acres.

    Type:Mixed Use, Office, Retail, Special Purpose
    Property size:
    14,000 SF
    Lot size:
    8.00 Acres
    Added:
    Aug 28, 2024
    Days on Market:
    597
    Last Refresh:
    Mar 17 at 1:26 pm

    Property Features for 2882 N Dinneen St

    General Information

    Standard status
    Active
    Size
    14,000 SF
    Lot size
    8.00 Acres
    Property subtype
    Mixed Use, Office, Retail, Special Purpose

    We can help!

    Listing Contact
    AJ Speasl
    AJ Speasl

    Listing agent AJ Speasl License #IL475.208164

    Listing office Vieweg Real Estate

    Listing date Aug 28, 2024

    Source Crexi

    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 Vieweg Real Estate

    Overview

    Versatile Commercial Property in Decatur, IL

    Located in the thriving business district of Decatur, IL, the property at 2882 N Dinneen St offers a versatile layout suitable for a range of commercial uses, including venue, retail, and office space. The facility spans over 14,000 square feet and is situated on over 8 acres of land off Pershing Road. The property features office space on the second level, an open banquet room, and an entertainment space, complemented by a large parking area. This property presents an opportunity for businesses seeking to establish a presence in a growing community.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Decatur
    County
    Macon
    State
    Illinois
    Longitude
    -88.9645
    Latitude
    39.9062

    Nearby Similar for Sale

    • $539,000

      Industrial Warehouse on Fenced Lot

      Industrial warehouse with office space and easy highway access.
      2627 N Route 121, Decatur, IL 62526
      View Details
    • $347,000

      Decatur Medical/Professional Office Building

      Medical/professional office building for sale in Decatur, Illinois.
      3021 N Oakland Ave Decatur, IL 62526
      View Details
    • $174,900

      Adaptable Commercial Building on Large Site

      Versatile building on 1.42 acres, suitable for various businesses.
      3260 N Charles St, Decatur, IL, 62526-2901
      View Details
    • $199,900
      3,000 SF

      Decatur Bar and Billiards Venue

      Established bar and billiards venue with a loyal customer base.
      858 W Green St, Decatur, IL 62522
      View Details
    • $575,000
      4,464 SF

      Medical Office Building For Sale

      Custom-built medical office in a central business district.
      675 E Snyder Dr, Decatur, IL 62526
      View Details
    • $2,250,000

      65-Unit Multifamily Investment Opportunity

      High-yield multifamily property near Millikin University with value-add potential.
      1740-1760 S Fairview Avenue, Decatur, IL 62521
      View Details
    • $1,211,306
      11,469 SF

      11,469 SF Office Investment Property For Sale

      Office investment property located off US 51 and Ash Ave.
      405-427 E. Ash Ave, Decatur, IL 62526
      View Details
    • $800,000
      14,500 SF

      Mixed-Use Property with Income Potential

      Value-add investment opportunity in Decatur's downtown commercial corridor.
      334 W Main St, Decatur, IL
      View Details
    • $699,000
      1,250 SF

      Retail Space Available For Lease

      Retail space available for lease in Decatur, Illinois.
      1400-1420 E Pershing Rd, Decatur, IL
      View Details
    • $650,000
      19 SF

      Decatur Industrial Building with Yard

      Industrial property featuring three structures and a fenced laydown yard.
      765 E Pythian Ave Decatur, IL 62526, IL 62526
      View Details
    • $3,100,000
      14,490 SF

      Family Dollar Investment Opportunity

      NNN leased Family Dollar with strong corporate guarantee.
      1315 N Water St, Decatur, IL 62526
      View Details
    • $625,000
      11,856 SF

      Decatur Retail Investment Opportunity

      Two retail properties on Mound Road, Decatur, Illinois for sale.
      1423 E Mound Rd, Decatur, IL 62526
      View Details

    FAQs

    What type of property is this?
    Mixed-use property - Spacious 14,000+ sq ft property on 8+ acres.
    Where is this mixed-use property located?
    The property is located at 2882 N Dinneen St Decatur, IL.
    What is the asking price?
    The asking price for this property is $790,000.
    What are key features of this property?
    This property features: Over 14,000 sq ft commercial building.; Situated on over 8 acres of land.; Located in the thriving business district of Decatur, IL.
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing AJ Speasl
    AJ Speasl
    Real Estate License ID: IL475.208164
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!