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    2602 Morgan St Decatur, IL 62526

    Sponsored
    For Lease
    $60 SF/Yr ($13,350 /Mo)

    Spacious single-tenant office, ideal location.

    Lot size:
    2,670 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 2,670 square foot single-tenant office building, situated on an 8,000 square foot corner lot at 2602 N Morgan Street, presents a compelling investment opportunity. Built in 1971, the property boasts a durable full brick exterior and a poured concrete foundation and ceilings, ensuring lasting quality. The convenient location offers ample on-site parking. Inside, the building features a generous open area perfect for collaborative work, along with five private offices providing individual workspaces. A well-equipped kitchenette/break room caters to employee needs, while a dedicated laboratory room adds versatility. Two bathrooms on the main level enhance convenience. A full, dry basement provides substantial storage, potential for private quarters, and an additional bathroom. Recent upgrades include a roof (approximately 5 years old) and an air conditioning system (approximately 7 years old), minimizing maintenance concerns. The property is zoned COM. The Assessor's Parcel Number (APN) is 04-12-02-178-010. This property is ready for immediate occupancy and offers significant potential for a variety of businesses.

    Property Features for 2602 Morgan St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,670 SF
    Total Rate
    13350

    Building Details

    Year Built
    1971

    Unit(s) available at that property

    Space
    Size
    2,670 SF
    Rate per SF
    $60

    HighLights

    • 2,670 SF single‑tenant office building.
    • Located on a corner lot with on‑site parking.
    • Features a full brick exterior, poured concrete foundation, and ceilings.
    • Interior includes a large open area, five private offices, kitchenette/break room, lab, and two bathrooms.
    • Dry basement offers ample storage and additional bathroom.
    • Roof (approx. 5 years old) and AC system (approx. 7 years old) are in good condition.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Decatur
    County
    Macon
    State
    Illinois
    Longitude
    -88.948600978257
    Latitude
    39.870556193596

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    FAQs

    What type of property is this?
    Office Property / Space - Spacious single-tenant office, ideal location.
    Where is this office property / space located?
    The property is located at 2602 Morgan St Decatur, IL.
    What is the lease rate?
    The lease rate is $60 SF/Yr.
    What are key features of this property?
    This property features: 2,670 SF single-tenant office building.; Located on a corner lot with on-site parking.; Features a full brick exterior, poured concrete foundation, and ceilings.
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    2602 Morgan St 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
    2602 Morgan St Decatur, IL 62526
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