2602 Morgan St Decatur, IL 62526-2411
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.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
MUNICIPAL · Decatur, ILDecatur. Always verify with local authorities before improvements.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.