135 Prairie Ave, Decatur, IL 62523
- Commercial real estate
- 0.06 lot acres
Current Use by Public Records
- Penelope Boutique / Clothing & Fashion Store
- Asimio / Advertising Agency / Marketing & Advertising
Property Details for 135 Prairie Ave
- Year built
- 1880
- Lot size
- 0.06 lot acres
- Property type
- Commercial real estate
- APN
- 04-12-15-282-033
Description
This exceptional investment opportunity presents a four-unit apartment building located at 135 E. Prairie Avenue in Decatur, Illinois. Built in 1880, this charming one-story building sits on a 0.06-acre lot and boasts a desirable downtown location. Currently, all four units are rented, generating a strong annual net operating income (NOI) of $49,865, representing an attractive 8.32% capitalization rate. Each unit is a unique loft condo, featuring desirable features such as cathedral ceilings and exposed brick walls. The property benefits from historically low vacancy rates, making it a reliable income-producing asset. Significant capital improvements totaling nearly $50,000 have been invested in the property over the past two years, including a new roof. The asking price is $599,000, or $149,750 per unit. The property is zoned MUN. Detailed financial information, including the rent roll, is available upon request. Please note that this offering includes only the upper-level residential units
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Decatur
- County
- Macon
- State
- Illinois
- Longitude
- -88.9550720986
- Latitude
- 39.842478970984
