2303 Hubbard Ave Decatur, IL 62526
- Warehouses
- 113,400 SF
- 10.00 lot acres
Current Use by Public Records
- Warehouses
Property Details for 2303 Hubbard Ave
- Lot size
- 10.00 lot acres
- Property size
- 113,400 SF
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity comprises two Class B industrial flex buildings totaling 113,400 net rentable square feet, situated on a 10-acre lot in Decatur, Illinois. The property, zoned M-1 Light Industrial, features 25 units with 16 loading docks and 16 dock-high doors, catering to diverse industrial and warehouse needs. Boasting 15-foot ceiling heights, the buildings offer a blend of office, production, and storage space, ideal for businesses seeking flexible layouts. Currently 74% occupied with 25 tenants under NNN leases, the property generates a strong NOI of $353,671, resulting in a 6.43% cap rate at an asking price of $5,500,000 ($48.50/SF). Located in Decatur's thriving industrial corridor, just two miles from I-72/US RT-51/US RT 48/US RT 36, this prime location offers unparalleled access to major transportation routes. The property benefits from recent improvements including updated parking lots and new roofs, presenting a value-add opportunity with potential for rent bumps. Lease options are available. APN: 07-07-36-403-002 & 07-07-36-251-005. This is a multi-tenant property with significant upside potential.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Decatur
- County
- Macon
- State
- Illinois
- Longitude
- -88.9247
- Latitude
- 39.8838
