Medically Leased Building For Sale

InvestmentSaleOfficeRetail 12,812 SF
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335-355 E. Ash Ave
Decatur, IL 62526
Price: $1,665,000
Building Size: 12,812 SF
Lot Size (acre): 1.01 Acres
Zoning: B2- Commercial
Tax PIN: 07-07-26-301-026
RE: $35,435.50
Year Built: 1998
Net Operating Income: $124,795.50
Cap Rate: 7.50%

Property Description

Coldwell Commercial Devonshire Realty (CBCDR) is proud to exclusively offer for sale this Medically Leased Investment property. The building was constructed in 1998 and has undergone several updates in recent years. Currently there are three tenants in the building; Springfield Associates in Oral & Maxillofacial Surgery (335 E. Ash | 2,620 SF), AECOM (345 E. Ash | 3,901 SF), & Vitalskin Dermatology (355 E. Ash | 4,154 SF). Springfield Associates signed a lease in 2017 and fully renovated the space as an oral surgery center. AECOM first leased space in the building in 2008 and has fluctuated in size over the years. VitalSkin signed a lease in 2020 for the vacant space and opened in early 2021.

Area Description

Ash Ave Office Complex is off US 51 (25,100 VPD) and Ash Ave. (11,900 VPD) on the North side of Decatur IL. The property sits across the street from Decatur Crossing which is anchored by Sam’s Club and Wal-Mart Supercenter (both recently remodeled) and is the highest volume retail center in the area. Other businesses in the immediate area include: Walgreens, Slumberland Furniture, Panera, Arby’s, Burger King, Sprint Mobile, Flooring America, Joanne Fabrics, Monical’s Pizza, Fuji Japanese Steakhouse, El Rodeo Mexican Restaurant, Boost Mobile, Sally Beauty Supply, Personal Finance, Ruby’s Gaming, Mega Replay, and Mid America Credit Union. Decatur IL is centrally located lying 40 miles east of Springfield (IL), 45 miles south of Bloomington-Normal, 50 miles southwest of Champaign-Urbana, 135 miles northeast of St. Louis (MO), 150 miles west of Indianapolis (IN), and 180 miles southwest of Chicago.