Property profile

2779 Water St Decatur, IL 62526

OFF-MARKET
Turn key restaurants
Property ID
US28-4680219
0.33 ac lot
Trust Owned 2-yr Hold Free & Clear
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Property summary

AI-generated overview

This 2,025-square-foot free-standing restaurant building is available for lease in Decatur, Illinois. Located on the busy North Water Street (US Route 51), this property boasts excellent visibility and high traffic counts, exceeding 11,500 vehicles per day. The building sits on a 0.33-acre lot and is zoned M-1. The property features a drive-thru configuration, making it ideal for quick-service restaurants. The existing kitchen infrastructure includes a walk-in cooler, multiple sinks, and a 10-foot range hood, providing a solid foundation for a variety of food service concepts. The property's previous tenant was a popular donut shop, demonstrating its suitability for this type of business. This single-tenant building (APN: 04-12-03-278-012) offers a Net Net Net (NNN) lease structure. The property's address is 2779 N Water St, Decatur, IL 62526. This is a fantastic opportunity for a food service business seeking a high-traffic location with existing kitchen amenities. The property's location offers significant advantages for attracting customers and building a successful business. Serious inquiries are encouraged.

Property profile

Verified
Property type Turn key restaurants
Use group RESTAURANT
Lot 0.33 ac (14,400 SF)
Zoning code MUNICIPAL
APN 04-12-03-278-012
UPID US28-4680219

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

2779 Water St Decatur, IL 62526-4231
Decatur metro Census 2001 DECATUR, IL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$260k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$260k

Owner & transaction history

since 2024
5 recorded transactions
2024
Price N/A
2018
Price N/A
2016
Price N/A
2009
Price N/A
2008
$174,500

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
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