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Property profile & analytics
FOR SALE
Individual retail properties
2474 N Main St Decatur, IL 62526
Trust Owned
3-yr Hold
~
Est. High Equity
Property ID
US28-4078852
For Sale
1 / 2
$199,000
2474 N Main St, Decatur, IL 62526
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Property summary
AI-generated overview
This freestanding retail building, located at 2474 N Main St, Decatur, IL 62526, presents a unique investment opportunity. The 2,500 square foot space, situated on a 0.33-acre lot (APN: 04-12-03-427-001), is currently a shell condition and requires build-out to suit the tenant's needs. Plumbed and walled, it's ready for immediate customization. The property boasts a highly visible location in a high-traffic area, experiencing 13,000 vehicles daily. Its proximity to Decatur Memorial Hospital and numerous businesses enhances its appeal. Built in 1959, this single-story, Class C building is zoned COM. The asking price is $199,000, translating to $79.60 per square foot. This versatile space is ideal for a variety of retail uses, previously operating as a dry cleaning establishment. The sale is offered by owner. Serious inquiries only. Earnest money should be made payable to CIT.
Property profile
Verified
Property type
Individual retail properties
Use group
DRY CLEANER
Lot
0.33 ac (14,375 SF)
Zoning code
MUNICIPAL
APN
04-12-03-427-001
UPID
US28-4078852
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
Prairie State Bank Trustee · 3 yrs held
Prairie State Bank Trustee
since 2022
Last sale
$115,000
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
$4,630
Tax year 2023
Assessed value
$46,519
Assessed 2023
Previous assessed
$43,047
+8.1% YoY
Effective rate
9.95%
On assessed value
Assessed land
$13,431
Assessed improvement
$33,088
Land market value
$40,297
Improvement market value
$99,274
Total market value
$139,571
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
Individual retail properties
Use group
DRY CLEANER
Status
For Sale
Lot
0.33 ac (14,375 SF)
Zoning code
MUNICIPAL
APN
04-12-03-427-001
UPID
US28-4078852
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
0.33 ac
Current owner
From public records · entity-resolved
Prairie State Bank Trustee
Trust
Mailing address
PO BOX 25432, DECATUR, IL 62525-5432
Ownership since
2022
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
Dec 14, 2022
$115,000
Prairie State Bank Trustee
Haresh A Patel
Warranty Deed
—
Mar 15, 2018
—
Maresh A Patel
—
Deed
related
$102,400 · Land Of Lincoln Cu
Sep 4, 2013
$120,000
Haresh A Patel
Sue H Schneider
Warranty Deed
$116,000 · First Mid Illinois Bank & Trust NA
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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