3205 22nd St Decatur, IL 62526-2106

Property Details for 3205 22nd St

Lot size

7.25 lot acres

Property size

89,520 SF

Zone code

MUNICIPAL

Property type

Warehouses

APN

07-07-36-403-005

APU

70736403005

Description

This exceptional 92,860-square-foot industrial warehouse, located at 3205 N 22nd St, Decatur, IL 62526, presents a compelling investment opportunity. Currently 100% occupied with a lease expiring December 31, 2022, this single-tenant property offers a significant value-add potential. The property boasts a strong 8.47% cap rate and a Net Operating Income (NOI) of $288,000. Built in 1963, this Class B building features one story, three units, and sits on a 7.25-acre lot. The warehouse includes 6 loading docks (6 dock-high doors), with varying ceiling heights ranging from 12'8" to a 30'5" peak. The climate-controlled space includes refrigerated sections. On-site amenities include ample office space with separate areas for reception, work, private offices, and a conference room, along with men's and women's restrooms. The building's construction includes a concrete block foundation, brick facing at the office, and a low-pitched gable roof. The rear warehouse features metal walls and a gable roof. The property benefits from excellent location and visibility, situated directly off Illinois Route 121, one mile from I-72, and within a thriving Decatur industrial area. The property also features updated mechanical systems, including unit heaters and 12 Bohn cooling compressors. The electrical system includes 1500 KVA 480y/277 electric panels. This property is zoned COM and has a Macon County APN of 07-07-36-403-005. The asking price is $3,400,000 ($36.61/sq ft, $1,133,333.33/unit). This is a NNN lease with a corporate guarantee. The property's strategic location near major transportation routes, including Interstate 72 and the Midwest Inland Port, provides exceptional access to regional and national markets.