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    100 Water St Decatur, IL 62523
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    Property profile & analytics

    100 Water St Decatur, IL 62523

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    • Office Units
    • 130,000 SF
    Off-Market
    Property ID
    US28-4523344
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Flowserve Corporation / Industrial Manufacturer / Production Facility
    • First Mid Bank & Trust Decatur Main / Bank / Loan Service
    • Downtown Fitness / Gym & Fitness Center
    • Nancy Handegan / Law Firm
    • South Water Street / Real Estate Agency

    Property Details for 100 Water St

    Property size
    130,000 SF
    Property type
    Office Units
    Property subtype
    Medical Office Space

    Description

    This exceptional six-story commercial building, located at 100 S Water St, Decatur, IL 62523, offers 130,000 square feet of versatile office space. Currently, 15,000 square feet is available for lease across multiple suites, catering to a variety of business needs. The building's diverse subtypes include traditional office, executive office, coworking, medical office, and creative office spaces, providing flexibility for various tenants. The property features four passenger and one freight elevators, ensuring efficient movement throughout the building. Ample parking is available with 100+ spaces in a private lot. Building amenities include convenient on-site food vending, and the added benefit of a bank and massage therapist within the building. For fitness-conscious tenants, a membership gym with locker rooms and showers is located in the basement. This beautifully updated building (updated over the past 20 years) enjoys a prime downtown location, within walking distance of Decatur's Central Park, restaurants, and shops. This is a unique opportunity to secure high-quality office space in a vibrant and convenient location.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific estimation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Decatur
    County
    Macon
    State
    Illinois
    Longitude
    -88.95448022
    Latitude
    39.84139579

    Comparable in this City

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      1,300 SF

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      Decatur Office Space Available

      Office space available for rent in Decatur, Illinois.
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    • $1,200 /Mo
      2,255 SF

      Decatur Office Space For Rent

      2255 square foot office space available for rent.
      101 S Main St, Decatur, IL 62523
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    • $9 SF/Yr
      18,902 SF

      Decatur Office Space Available

      18902 square foot office space for rent.
      111 E Main St, Decatur, IL 62523
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    • $16 SF/Yr
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      Downtown Decatur Commercial Office Space

      Commercial office space available for lease in downtown Decatur.
      143 S Water St, Decatur, IL 62523
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    • $3,000 /Mo
      3,000 SF

      Decatur Office Space For Rent

      3,000 square foot office space available for lease.
      148 E Main St, Decatur, IL 62523
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    Similar Nearby for Sale

    • Contact for pricing

      Downtown Decatur Retail Opportunity

      6500 SF retail facility with living quarters for sale.
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      248 N Park St, Decatur, IL 62523

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      Prime Corner Location For Sale

      Corner lot suitable for development in downtown Decatur.
      450 N Main St, Decatur, IL 62523
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    Similar Nearby for Lease

    • $1,500 /Mo
      1,300 SF

      Downtown Decatur Redevelopment Opportunity

      Redevelopment opportunity in downtown Decatur. Build-to-suit, 1,300 square feet.
      132-190 W Wood St, Decatur, IL 62523
      View Details
    • $9 SF/Yr
      18,902 SF

      Decatur Office Space Available

      18902 square foot office space for rent.
      111 E Main St, Decatur, IL 62523
      View Details
    • $16 SF/Yr
      3,012 SF

      Downtown Decatur Commercial Office Space

      Commercial office space available for lease in downtown Decatur.
      143 S Water St, Decatur, IL 62523
      View Details
    • $3,000 /Mo
      3,000 SF

      Decatur Office Space For Rent

      3,000 square foot office space available for lease.
      148 E Main St, Decatur, IL 62523
      View Details
    • $1,200 /Mo
      2,255 SF

      Decatur Office Space For Rent

      2255 square foot office space available for rent.
      101 S Main St, Decatur, IL 62523
      View Details
    • Contact for pricing
      4,275 SF

      Decatur Office Space Available

      Office space available for rent in Decatur, Illinois.
      214 N Franklin St, Decatur, IL 62523
      View Details
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    100 Water St
    Decatur, IL 62523
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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