248-252 N. Park Street Decatur, IL 62523 | 248-252 N Park St
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248-252 N. Park Street Decatur, IL 62523 248-252 N Park St
11,884 SF Retail Building Decatur, IL 62523 $695,000 ($58/SF)
Investment Highlights
- Three continuous buildings overlooking the beautiful Central Park
- Two of the three commercial spaces are occupied, with lease renewal terms commencing January 2025
- The residential portion includes two 2-bedroom, 1-bathroom apartments
- Features three street-level commercial spaces, two spacious apartments, and an additional two floors of untapped, multifamily development potential
- Incentives available - property is situated in the the newly adopted Downtown TIF District
- Value-add upside, with current stabilized cash-flow
Executive Summary
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!
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!
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Storefront Retail/Office
Building Size
11,884 SF
Building Class
C
Year Built
1890
Price
$695,000
Price Per SF
$58
Tenancy
Single
Building Height
3 Stories
Building FAR
2.18
Lot Size
0.12 AC
Opportunity Zone
Yes
Zoning
B4 - Commercial Business Zoned for office/retail in the TIFF DISTRICT in the heart of downtown Decatur across from the city Central Park
Frontage
23 FT on North Park Street
Amenities
- 24 Hour Access
Space Availability
- Space
- Size
- Space Use
- Position
- Available
| Space | Size | Space Use | Position | Available |
| 1st Floor | 1,000 SF | Office/Retail | - | 30 Days |
1st Floor
| Size |
| 1,000 SF |
| Space Use |
| Office/Retail |
| Position |
| - |
| Available |
| 30 Days |
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1st Floor
| Size | 1,000 SF |
| Space Use | Office/Retail |
| Position | - |
| Available | 30 Days |
Walk Score ®
Very Walkable (80)
Nearby Major Retailers
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $117,672 | |
| Land Assessment | $8,073 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $109,599 | Tax Year | 2023 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$8,073
Improvements Assessment
$109,599
Total Assessment
$117,672
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
Learn More About Investing in Retail Properties
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248-252 N. Park Street Decatur, IL 62523 | 248-252 N Park St
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