405-427 Ash AveDecatur, IL 62526

Property Details for 405-427 Ash Ave

Year built

1997

Lot size

0.74 AC

Property size (Sq ft)

11,469 SF

Property type

Office properties

Property subtype

Other office properties

Description

This Class A, 11,469 sq ft office building in Decatur, IL, offers a compelling investment opportunity. Boasting a 9.50% cap rate and 100% occupancy across four tenants, including Great Lakes Psychology, Tharaldson Hospitality Management, and Lighthouse Autism Center, this single-story, 1997-built property underwent renovations in 2020, including a new roof. The 0.74-acre lot is zoned B2 and features a NNN lease structure. Located on E Ash Ave, the property benefits from high visibility and proximity to major retailers like Sam's Club and Walmart, as well as numerous other businesses. The building's strong tenant base and prime location in Decatur, a city conveniently situated near Springfield, Bloomington-Normal, Champaign-Urbana, St. Louis, Indianapolis, and Chicago, contribute to its significant investment potential. One suite (1,029 sq ft) is currently available, offering potential for increased revenue. The asking price is $1,234,000, with a price per square foot of $107.59 and a net operating income (NOI) of $132,263.

Location Insight

City

Decatur

County

Macon

State

Illinois

Latitude

39.8987

Longitude

-88.9518

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