248-252 N Park St - Storefront Retail/Office FOR SALE


Decatur, IL 62523
$675,000 USD
217-422-3335
248-252 N Park St, Decatur, IL for Sale
$675,000 USD
Storefront Retail/Office - FOR SALE
1/24
null | Request Cap Rate

248-252 N Park St
Decatur, IL 62523


HIGHLIGHTS

  • Three continuous buildings overlooking the beautiful Central Park
  • Features three street-level commercial spaces, two spacious apartments, and an additional two floors of untapped, multifamily development potential
  • Two of the three commercial spaces are occupied, with lease renewal terms commencing January 2025
  • Incentives available - property is situated in the the newly adopted Downtown TIF District
  • The residential portion includes two 2-bedroom, 1-bathroom apartments
  • Value-add upside, with current stabilized cash-flow

OVERVIEW

A unique mix-used investment package in the heart of Downtown Decatur is now available! Three continuous buildings overlooking the beautiful Central Park. In total, this property features three street-level commercial spaces, two spacious apartments, and an additional two floors of untapped, raw multifamily development potential. Currently, two of the three commercial spaces are occupied, with lease renewal terms commencing January 2025. The third retail space, formerly a Subway, is ready for a new tenant with modern finishings and restaurant grade infrastructure in place. The residential portion includes two 2-bedroom, 1-bathroom apartments. Both units offer stunning views of Central Park, adding to their demand and appeal for the rental professional. This property presents an incredible opportunity to expand your investment portfolio while securing real estate in a prime downtown location. Incentives available - property is situated in the the newly adopted Downtown TIF District. Value-add upside, with current stabilized cash-flow. Don't miss out on this chance to generate multiple streams of revenue in Decatur's central city center!

FOR SALE DETAILS

PRICE

$675,000 USD

PRICE/SF

$57 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

248-252 N. Park Street Decatur, IL 62523

PROPERTY TYPE

Retail

PROPERTY SUBTYPE

Storefront Retail/Office

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1890

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.12 AC

LAND SF

5,443 SF

ZONING

B4

APN/PARCEL ID

04-12-14-151-010,04-12-14-151-013,04-12-14-151-014

ASK ABOUT THIS PROPERTY

Zane PetersonMain Place Real EstateMore Info
217-422-3335

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Zane PetersonMain Place Real EstateMore Info
217-422-3335

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.