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Property profile & analytics
FOR LEASE
Banks
132 Water St 3rd Decatur, IL 62523
Entity Owned
3-yr Hold
Free & Clear
Property ID
US28-3602548
For Lease
1 / 9
$119-$9,590/Mo per office
132 Water St,Unit 3rd, Decatur, IL 62523
View Listing →
Property profile
Verified
Property type
Banks
Use group
FINANCIAL BUILDING
Lot
0.51 ac (22,216 SF)
Zoning code
MUNICIPAL
APN
04-12-14-158-001
UPID
US28-3602548
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
Current use
Occupant on record · Public records
-
Shoop & Sons Big Box & Wholesale Store Building Supply
-
Healing Hands Massage Therapy and Calming Cafe Alternative Medicine Practice Spa & Massage Center
-
ProVest Law Firm
-
Massey David L Law Firm
-
Bickes Law Offices Law Firm
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$305k
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$305k
Owner & transaction history
First Mid Il Wealth Management Co T · 3 yrs held
First Mid Il Wealth Management Co T
since 2023
4 recorded transactions
Zoning & alternative use
MUNICIPAL · Decatur, IL
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
Method
Estimation
Statistic approach
by Request
ML approach
$305,000
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Blend value · Realmo final
$305k
Range $275k – $336k · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
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
$36,309
Tax year 2023
Assessed value
$364,822
Assessed 2023
Previous assessed
$337,589
+8.1% YoY
Effective rate
9.95%
On assessed value
Assessed land
$32,164
Assessed improvement
$332,658
Land market value
$96,502
Improvement market value
$998,074
Total market value
$1,094,576
Applied tax rate
4,555.0000
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
Banks
Use group
FINANCIAL BUILDING
Status
For Lease
Lot
0.51 ac (22,216 SF)
Zoning code
MUNICIPAL
APN
04-12-14-158-001
UPID
US28-3602548
Jurisdiction
MACON
Zoning & alternative use
MUNICIPAL · Decatur, ILZoning MUNICIPAL · permitted uses
MUNICIPAL · Decatur, IL
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Source
Zoning Ordinance PDF
Building & site characteristics
From public records
Lot
0.51 ac
Current owner
From public records · entity-resolved
First Mid Il Wealth Management Co T
Entity
Free & Clear · 3 yrs held
Mailing address
PO BOX 529, MATTOON, IL 61938-0529
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
4 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Apr 2, 2024
—
First Mid Wealth Management Co Trus
—
Deed
related
$3,900,000 · First Mid Illinois Bk & Tr NA
Aug 3, 2023
—
First Mid Il Wealth Management Co T
South Water Street Of Decatur LLC
Deed
—
Jan 5, 2007
—
First States Investors 4300 LLC
Regions Bank
Correction Deed
related
—
Jul 11, 2005
$2,272,500
First States Investors 4300 LLC
Union Planters Bank NA
Special 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.
Try Rey
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“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
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