Office Investment Property For Sale

InvestmentSaleOffice 11,469 SF
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405-427 E Ash Ave
Decatur, IL 62526
Price: $1,670,000
Building Size: 11,469 SF
Lot Size (acre): 0.74 AC
Zoning: B2- Commercial
Tax PIN: 07-07-26-301-026
CAP Rate: 8.5%
NOI: $141,863.62
Building Class: A
Year Built: 1997

Property Description

Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to exclusively offer for sale this Office Investment Building in Decatur. The building was constructed in 1997 and has undergone several updates in recent years. Currently there are four (4) tenants in the building: Great Lakes Psychology in 405 E. Ash Ave; Tharaldson Hospitality Management in 415 E. Ash Ave; Draper & Kramer Mortgage Corp in 419 E. Ash Ave; Lighthouse Autism Center in 427 E. Ash Ave. 405 & 427 E. Ash have undergone extensive renovations in the last several years and have new regional tenants in place. The roof was replaced in 2020.

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.

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