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Property profile & analytics
OFF-MARKET
Office buildings

2602 Morgan St Decatur, IL 62526-2411

0.18 ac lot
Entity Owned 3-yr Hold Free & Clear
Property ID
US28-4413124
Property summary
AI-generated overview

This exceptional 2,670 square foot single-tenant office building, situated on an 8,000 square foot corner lot at 2602 N Morgan Street, presents a compelling investment opportunity. Built in 1971, the property boasts a durable full brick exterior and a poured concrete foundation and ceilings, ensuring lasting quality. The convenient location offers ample on-site parking. Inside, the building features a generous open area perfect for collaborative work, along with five private offices providing individual workspaces. A well-equipped kitchenette/break room caters to employee needs, while a dedicated laboratory room adds versatility. Two bathrooms on the main level enhance convenience. A full, dry basement provides substantial storage, potential for private quarters, and an additional bathroom. Recent upgrades include a roof (approximately 5 years old) and an air conditioning system (approximately 7 years old), minimizing maintenance concerns. The property is zoned COM. The Assessor's Parcel Number (APN) is 04-12-02-178-010. This property is ready for immediate occupancy and offers significant potential for a variety of businesses.

Property profile
Verified
Property type Office buildings
Use group OFFICE BUILDING
Lot 0.18 ac (8,000 SF)
Zoning code MUNICIPAL
APN 04-12-02-178-010
UPID US28-4413124
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
Bb Properties LLC · 3 yrs held
Bb Properties LLC
since 2023
Last sale
$70,000
1 recorded transaction
2023
$70,000
Zoning & alternative use
MUNICIPAL · Decatur, IL
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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