2303 Hubbard AveDecatur, IL 62526

Property Details for 2303 Hubbard Ave

Lot size

10.00 AC

Property size (Sq ft)

113,400 SF

Property type

Warehouses

Property subtype

Industrial properties

Description

This exceptional investment opportunity comprises two Class B industrial flex buildings totaling 113,400 net rentable square feet, situated on a 10-acre lot in Decatur, Illinois. The property, zoned M-1 Light Industrial, features 25 units with 16 loading docks and 16 dock-high doors, catering to diverse industrial and warehouse needs. Boasting 15-foot ceiling heights, the buildings offer a blend of office, production, and storage space, ideal for businesses seeking flexible layouts. Currently 74% occupied with 25 tenants under NNN leases, the property generates a strong NOI of $353,671, resulting in a 6.43% cap rate at an asking price of $5,500,000 ($48.50/SF). Located in Decatur's thriving industrial corridor, just two miles from I-72/US RT-51/US RT 48/US RT 36, this prime location offers unparalleled access to major transportation routes. The property benefits from recent improvements including updated parking lots and new roofs, presenting a value-add opportunity with potential for rent bumps. Lease options are available. APN: 07-07-36-403-002 & 07-07-36-251-005. This is a multi-tenant property with significant upside potential.

Location Insight

City

Decatur

County

Macon

State

Illinois

Latitude

39.8838

Longitude

-88.9247

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