Technical
Financial
Distress signals
Property profile

334 W Main St Decatur, IL 62522

FOR LEASE
Medical Office Space
Property ID
US28-4368118
0.55 ac lot
Entity Owned 4-yr Hold Free & Clear
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334 W Main St, Decatur, IL 62522 For Lease
Contact for pricing 7,800 SF available
334 W Main St, Decatur, IL 62522
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Property summary

AI-generated overview

This mixed-use property consists of approximately 14,500 square feet and includes residential and commercial components on a 0.55-acre lot with 32 parking spaces. The residential portion contains 8 fully renovated apartment units with features such as granite countertops, luxury vinyl plank flooring, and stainless steel appliances; the building systems and services include a roof that was replaced about 10 years ago with preventative patching performed within the last two years, two installed HVAC units, electrical and plumbing updates on the second floor, and a regimen of inspections and testing every six months. The commercial component includes 7,800 square feet of main-level retail/office space plus an additional 6,000 square feet of basement area that was formerly configured for laboratory use. The property includes handicap accessibility, security systems, and utilities and infrastructure intended to support combined residential and commercial use. It is located on West Main Street in downtown Decatur within the city’s primary commercial corridor, near Millikin University, with pedestrian-oriented downtown access and transportation connectivity via public transit routes and major roadway connections.

Property profile

Verified
Property type Medical Office Space
Use group DENTAL BUILDING
Lot 0.55 ac (23,864 SF)
Zoning code MUNICIPAL
APN 04-12-15-256-012
UPID US28-4368118

Cap rate & NOI

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

Current use

Occupant on record · Public records
  • Dental Office

Location

334 W Main St Decatur, IL 62522
Decatur metro Census 502 DECATUR, IL METROPOLITAN STATISTICAL AREA
Google Maps

Value estimations

Realmo proprietary · 4 methods
AI Approach AI
$280k
CAP Approach CAP
by Request
Comparable Approach Comparable
by Request
Blend (final) Blend
$280k

Owner & transaction history

since 2022
3 recorded transactions
2024
Price N/A
2022
Price N/A
2021
Price N/A

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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