2727 Oakland Ave Decatur, IL 62526-1586
- Office buildings
- 1.58 lot acres
Sep 20, 2022
Current Use by Public Records
- Jurgens Alan R DDS / Dentist
- Spring Creek Plaza Shopping Center / Shopping Mall
- Rachel Ingram / Dentist
- Midwest Dental - Decatur / Dentist / Cosmetic Dentist
- Decatur Profesional Building / Orthotics & Prosthetics Service
Property Details for 2727 Oakland Ave
- Lot size
- 1.58 lot acres
- Zone code
- MUNICIPAL
- Property type
- Office buildings
- APN
- 04-12-04-277-002
- APU
- 41204277002
Description
This exceptional 13,200 square foot medical office building, located at 2727 N Oakland Ave, Decatur, IL 62526, presents a compelling investment opportunity. The property boasts a strong 8.50% cap rate and a current NOI of $126,745, with an asking price of $1,491,125 ($112.96/sq ft). Currently 87% occupied, the multi-tenant building features three tenants, including Smile Brands, the largest DSO in the United States, which contributes 75% of the NOI. Hage Orthodontics recently signed a new lease, demonstrating market confidence. Smile Brands' early execution of a lease option further solidifies their commitment to this location. The property sits on a 1.64-acre lot and benefits from a recently installed (2024) 20-ton HVAC unit. Detailed lease information, including rent bumps and options, is available in the offering memorandum. This represents a low price point for a medical asset with strong unit-level financials, making it an attractive addition to any portfolio. The property is classified as a Modified Gross Net Lease investment. Tenant credit information is not available.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $940,000
- ML approach
- $1,120,000
Get a detailed, property-specific valuation — fast and free
Location Insight
- Map
- Local Demand
- City
- Decatur
- County
- Macon
- State
- Illinois
- Longitude
- -88.9736
- Latitude
- 39.8719
- CBSA code
- 19500
- CBSA name
- DECATUR, IL METROPOLITAN STATISTICAL AREA
