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    1343 Route 48 Decatur, IL 62526

    Sponsored
    For Lease
    $8 SF/Yr ($11,712 /Mo)

    17,568 SF Retail Building, High Traffic Area

    Lot size:
    17,568 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This 17,568-square-foot retail building, constructed in 1967, is situated in Decatur, Illinois, at 1343 N. Route 48. Currently, a 7,200-square-foot space is available for lease. The building is divided into two tenant spaces, and the landlord is willing to renovate the space to suit a qualified tenant. The layout features a wide-open retail area with central mechanical and restroom facilities. The property boasts excellent visibility and high traffic volume, located on the northwest corner of IL Route 48 (N. Oakland Ave/N. Fairview Ave) with 11,700 vehicles per day and W. Grand Ave with 8,100 vehicles per day. This prime location in west Decatur places the property near various retailers including Walgreens, U Top Beauty Supply, Save A Lot Grocery, Harvest Market Fuel Station, and AutoZone. The area also includes residential neighborhoods, Akorn Pharmaceuticals, MacArthur High School, and proximity to Millikin University. The property includes 100 parking spaces and is located in Macon County, Illinois, zip code 62526. This presents a unique opportunity for a business seeking high visibility and a strong customer base in a well-established commercial area.

    Property Features for 1343 Route 48

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    17,568 SF
    Total Rate
    11712

    Building Details

    Year Built
    1967

    Unit(s) available at that property

    Space
    Size
    7,200 SF
    Rate per SF
    $8

    HighLights

    • 17,568‑square‑foot retail building in Decatur, IL.
    • 7,200 square feet available for lease.
    • Landlord will renovate to suit qualified tenant.
    • High visibility corner location on Route 48 (11,700 VPD) and W. Grand Ave (8,100 VPD).
    • Strong surrounding retail including Walgreens, Save A Lot, and AutoZone.
    • 100 parking spaces.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Decatur
    County
    Macon
    State
    Illinois
    Longitude
    -88.97330091303
    Latitude
    39.855551164043

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    FAQs

    What type of property is this?
    Retail property - 17,568 SF Retail Building, High Traffic Area
    Where is this retail property located?
    The property is located at 1343 Route 48 Decatur, IL.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    What are key features of this property?
    This property features: 17,568-square-foot retail building in Decatur, IL.; 7,200 square feet available for lease.; Landlord will renovate to suit qualified tenant.
    Request Owner's contact information
    1343 Route 48 Decatur, IL 62526
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    Decatur, IL 62526
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    Realmo Value Estimation

    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.

    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.

    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
    1343 Route 48 Decatur, IL 62526
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