Decatur Marketplace
22,715 SF | 100% Leased | Retail Building | Decatur, IL 62521 | $4,470,800 ($197/SF) | 8.25% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $4,470,800
- Property Type
-
Retail
- Square Feet
- 22,715 SF
- Price / Square Foot
- $197
Listing Contacts
Philip Levy
Verified Profile
Steven Weinstock
Verified Profile
- Property Info
Property Overview
Decatur Marketplace is a 22,715-square-foot, multi-tenant retail center located in Decatur, Illinois. The building is currently 100 percent leased, and 95 percent of the gross leasable area has triple-net leases. The center is anchored by Five Below, who executed a new 10.5-year lease. The tenant base is a complementary mix of national and local retailers including CATO, GNC, Hollywood 21 Smoke Shop, GameStop, China King, Verizon Wireless, Solar Tan, Great Clips, and Honey Nails. The subject property consists of two multi-tenant buildings constructed in 1999 and situated on a large 9.85-acre parcel with ample paved parking. The offering includes an additional 2.47-acre parcel located directly to west of Walmart, providing a future development opportunity.
Decatur Marketplace is located near the signalized intersection of Aldi Drive and Mt. Zion Road. The center benefits from multiple ingress and egress points, with cumulative traffic counts exceeding 23,708 vehicles per day. The center is shadow-anchored by a high-traffic Walmart Supercenter, with more than two million visitors annually, and near numerous other national retailers including Dollar Tree, Culver's, Taco Bell, Sonic Drive-In, ALDI, McDonald's, Dairy Queen, Kroger, and many more. The surrounding area has an average household income of $94,229 within one mile of the subject property and 48,791 residents within a five-mile radius.
Decatur Marketplace is located near the signalized intersection of Aldi Drive and Mt. Zion Road. The center benefits from multiple ingress and egress points, with cumulative traffic counts exceeding 23,708 vehicles per day. The center is shadow-anchored by a high-traffic Walmart Supercenter, with more than two million visitors annually, and near numerous other national retailers including Dollar Tree, Culver's, Taco Bell, Sonic Drive-In, ALDI, McDonald's, Dairy Queen, Kroger, and many more. The surrounding area has an average household income of $94,229 within one mile of the subject property and 48,791 residents within a five-mile radius.
Property Details
- Class
- C
- Year Built
- 1999
- Stories
- 1
Highlights
- 22,715-Square-Foot, Multi-Tenant Retail Center
- Shadow-Anchored by Walmart Supercenter
- Stabilized Asset | 100% Leased | 95% of the Gross Leasable Area has Triple-Net Terms
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