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    2875 Water St Decatur, IL 62526

    Sponsored
    For Lease
    $16 SF/Yr ($8,066 /Mo)

    6,050 sq ft retail space in Decatur, IL

    Lot size:
    6,050 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This 6,050-square-foot retail space, located at 2875 N Water St in Decatur, Illinois, presents a significant opportunity for businesses seeking a prominent location. Built in 1977 and recently renovated, the property boasts a flexible layout ideal for various commercial uses. The east section features a large retail area, two sizable rooms, two offices, a kitchenette, and two public restrooms. The west section offers a spacious open area, an employee restroom, and a mechanical room. The B-2 Commercial zoning allows for a wide range of business types. Situated just south of Decatur's main retail corridor along Water Street, the property benefits from high traffic counts exceeding 42,000 vehicles daily, and proximity to numerous national, regional, and local businesses. This prime location offers excellent visibility and accessibility, with convenient access to major highways, including easy commutes to St. Louis, Chicago, Indianapolis, Champaign, Bloomington, and Springfield. The property's previous tenant was a medical supply store. The entire space is currently vacant and ready for immediate occupancy. The property is located in Macon County, Illinois, zip code 62526.

    Property Features for 2875 Water St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    6,050 SF
    Total Rate
    8066.67

    Building Details

    Year Built
    1977

    Unit(s) available at that property

    Space
    Size
    6,050 SF
    Rate per SF
    $16

    HighLights

    • 6,050 SF retail space at 2875 N Water St, Decatur, IL.
    • Recently renovated with flexible layout suitable for various commercial uses.
    • High traffic counts exceeding 42,000 vehicles daily on Water Street, Decatur's main retail corridor.
    • B‑2 Commercial zoning allows diverse business types.
    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 Auto Repair Shop Hair Salon 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
    -88.9554838
    Latitude
    39.8741768

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    FAQs

    What type of property is this?
    Retail property - 6,050 sq ft retail space in Decatur, IL
    Where is this retail property located?
    The property is located at 2875 Water St Decatur, IL.
    What is the lease rate?
    The lease rate is $16 SF/Yr.
    What are key features of this property?
    This property features: 6,050 SF retail space at 2875 N Water St, Decatur, IL.; Recently renovated with flexible layout suitable for various commercial uses.; High traffic counts exceeding 42,000 vehicles daily on Water Street, Decatur's main retail corridor.
    Request Owner's contact information
    2875 Water St 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
    2875 Water St Decatur, IL 62526
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