Technical
Financial
Distress signals
Property profile

2602 N Morgan St Decatur, IL 62526

FOR LEASE
Office buildings
Property ID
US28-4413124
0.18 ac lot
Entity Owned 3-yr Hold Free & Clear
Saved · see the list in your Dashboard

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

Location

2602 N Morgan St Decatur, IL 62526
Decatur metro Census 2100 DECATUR, IL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$65k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$65k

Owner & transaction history

since 2023
Last sale
$70,000
1 recorded transaction
2023
$70,000

Zoning & alternative use

MUNICIPAL · Decatur, IL

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Try Rey
Ask anything about this address in plain English.
“Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
More about this property
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Please enter message