1331 Eldorado StDecatur, IL 62521

Property Details for 1331 Eldorado St

Lot size

0.28 AC

Zone code

MUNICIPAL

Property type

Car washes

APN

04-12-14-231-003

APU

41214231003

Description

This 2,234 square foot industrial/mixed-use property, located at 1331 E Eldorado St, Decatur, IL 62521 (APN: 12-14-231-003), presents a compelling redevelopment opportunity. Built in 1959, this single-story, Class C building sits on a 12,008 square foot lot and is zoned for commercial use. Previously a four-bay car wash, the existing infrastructure, including plumbing, drainage, and utilities, remains functional, offering a solid foundation for various projects. The property's prime location on Eldorado Street, a major Decatur commercial corridor, ensures high visibility and significant traffic volume, ideal for attracting customers. Potential uses are diverse, ranging from restoring the car wash to establishing a new automotive service or developing a completely different commercial venture. The asking price is $149,000. This unique property offers significant potential for investors seeking a high-traffic location and adaptable space in a thriving commercial area. The property's existing infrastructure minimizes initial investment costs, making it an attractive proposition for a wide range of commercial endeavors.

• CAP approach

  CAP return

  Valuation

  6%

  $4,583,256

  6.5%

  $4,230,698

  7%

  $3,928,505

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,359,082

  Geo Method

  $2,359,082

• Alternative Use

  Use

  Valuation

  Residential

  $3,568,752

  Hospitality

  $3,268,958

  Educational

  $2,719,734

  Medical

  $2,813,270

  Retail

  $4,230,698

Location Insight

City

Decatur

County

Macon

State

Illinois

Latitude

39.8459

Longitude

-88.9384

CBSA code

19500

CBSA name

DECATUR, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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