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Property profile & analytics
OFF-MARKET
Retail space
1174 Locust St, Decatur, IL 62521-1367
Individually Owned
5-yr Hold
Free & Clear
Property ID
US28-4279721
Property summary
AI-generated overview
This 2,450-square-foot executive office building at 1174 E. Locust St., Decatur, IL, is available for $88,888. Located on a 0.12-acre lot in Macon County (APN 04-12-11-258-019), this Class C property boasts a prime corner location offering excellent street visibility. Built in 1919, the single-story building features a brand-new roof and flashing, preserving its original design while incorporating modern updates. The property includes two drive-in doors, one of which is an overhead door, providing convenient access. Currently vacant, this B-1 zoned property presents a unique opportunity for a variety of businesses. The asking price is $36.28 per square foot. This historic building offers ample space and a prominent location in a thriving Decatur commercial district. The property's rich history and strategic location make it an attractive investment opportunity.
Property profile
Verified
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Lot
0.12 ac (5,175 SF)
Zoning code
MUNICIPAL
APN
04-12-11-258-019
UPID
US28-4279721
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Tiko Smith · 5 yrs held
Tiko Smith
since 2020
Last sale
$30,000
3 recorded transactions
Zoning & alternative use
MUNICIPAL · Decatur, IL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Decatur submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Decatur submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$577
Tax year 2023
Assessed value
$5,798
Assessed 2023
Previous assessed
$5,268
+10.1% YoY
Effective rate
9.95%
On assessed value
Assessed land
$2,166
Assessed improvement
$3,632
Land market value
$6,499
Improvement market value
$10,897
Total market value
$17,396
Applied tax rate
4,055.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Retail space
Use group
RETAIL STORES (PERSONAL SERVICES)
Status
Off-Market
Lot
0.12 ac (5,175 SF)
Zoning code
MUNICIPAL
APN
04-12-11-258-019
UPID
US28-4279721
Jurisdiction
MACON
Zoning & alternative use
MUNICIPAL · Decatur, IL
Zoning MUNICIPAL · permitted uses
MUNICIPAL · Decatur, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Decatur. Always verify with local authorities before improvements.
Building & site characteristics
From public records
Lot
0.12 ac
Current owner
From public records · entity-resolved
Tiko Smith
Individual
Free & Clear · 5 yrs held
Mailing address
1174 E LOCUST ST, DECATUR, IL 62521-1367
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 6, 2022
—
Tiko C Smith
—
Deed
related
$25,000 · Regions Bank
Dec 7, 2020
$30,000
Tiko Smith
Bt Investments LLC
Warranty Deed
—
Dec 20, 2007
$8,500
Bt Investments LLC
Parks Properties
Warranty Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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