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    2215 Oakland Ave Decatur, IL 62526

    Sponsored
    For Sale
    $349,000

    Prime 1.5-acre site, high traffic, vacant.

    Property size:
    3,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 1.5-acre commercial property at 2215 N Oakland Ave, Decatur, IL (62526), presents a significant redevelopment opportunity. The site boasts two buildings totaling 4,200 net rentable square feet, including a 3,000 square foot former gas station and a 1,500 square foot tunnel car wash, built in 1990 and renovated in 2015. Currently vacant, this property offers high visibility on a major commercial corridor with excellent road frontage, ensuring maximum exposure to the estimated 20,000 vehicles passing daily. Ample on-site parking caters to customer and staff convenience. The adaptable interior layout allows for customization to suit various commercial needs. The property is zoned B-2 and sits on a 1.5-acre lot. This prime location offers strong market potential, situated near thriving businesses and key amenities, including restaurants, shopping centers, and residential areas. The asking price is $349,000, with a pro-forma NOI of $70,000 and a pro-forma cap rate of 20.06%. The property is ground leased and is being sold by the owner. Parcel numbers are 04-12-04-429-020 & 04-12-04-429-021. This is an ideal location for a convenience store, QSR, or shopping center redevelopment. Don't miss this chance to secure this strategic location.

    Property Features for 2215 Oakland Ave

    General Information

    Property type
    Lifestyle centers
    Square Feet
    3,000 SF
    Class
    C
    Lot Size
    65,340 SF

    Building Details

    Year Built/Renovated
    1990/2015
    Buildings
    2
    Stories
    1
    Units
    2

    HighLights

    • 20,000 vehicles per day traffic count.
    • 3,000 square foot former gas station building available.
    • 1,500 square foot tunnel car wash included.
    • Suitable for retail redevelopment or repositioning as a convenience store and car wash.
    • High visibility and traffic location.
    • Excellent business opportunity with diverse potential uses.
    Property Profile Location Intelligence

    Current Use by Public Records

    Lifestyle centers

    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
    -88.9733826
    Latitude
    39.8660509

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    FAQs

    What type of property is this?
    Lifestyle center - Prime 1.5-acre site, high traffic, vacant.
    Where is this lifestyle center located?
    The property is located at 2215 Oakland Ave Decatur, IL.
    What is the asking price?
    The asking price for this property is $349,000.
    What are key features of this property?
    This property features: 20,000 vehicles per day traffic count.; 3,000 square foot former gas station building available.; 1,500 square foot tunnel car wash included.
    Request Owner's contact information
    2215 Oakland Ave 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
    2215 Oakland Ave Decatur, IL 62526
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