3131 Water StDecatur, IL 62526

Property Details for 3131 Water St

Lot size

1.17 AC

Zone code

MUNICIPAL

Property type

Office buildings

APN

07-07-34-478-004

APU

70734478004

Description

This exceptional 5,500-square-foot single-tenant building, located at 3131 N Water St, Decatur, IL, presents a remarkable opportunity for medical or creative office users. Built in 1990 and extensively renovated in 2020, this Class B property boasts a modern layout ideal for a variety of uses. Previously utilized as an express care facility, the building features a spacious waiting room, reception area, registration areas, two triage rooms, twelve exam rooms, nurses' station, x-ray room, two private offices, and a break/conference room. The 12-foot ceilings contribute to a bright and airy atmosphere. Situated on a 1.17-acre lot with 75 parking spaces, the property enjoys exceptional visibility and high traffic counts, with nearly 25,000 vehicles passing daily on US Business Route 51 North and South. Its strategic location on N Water Street, near N Main Street, and B-2 Commercial zoning make it highly desirable. Property taxes are $0.53 per square foot. The building consists of one story and is situated in the Macon County submarket, encompassing Champaign, Bloomington, and Springfield, IL. APN: 07-07-34-478-004. This is a turnkey opportunity for businesses seeking high visibility and convenient access in a thriving area.

• CAP approach

  CAP return

  Valuation

  6%

  $13,635,251

  6.5%

  $12,586,386

  7%

  $11,687,358

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,973,232

  Geo Method

  $3,973,232

• Alternative Use

  Use

  Valuation

  Residential

  $15,607,118

  Hospitality

  $14,296,036

  Educational

  $11,894,134

  Medical

  $12,303,192

  Retail

  $18,501,986

Location Insight

City

Decatur

County

Macon

State

Illinois

Latitude

39.8791

Longitude

-88.9557

CBSA code

19500

CBSA name

DECATUR, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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