Multi-Family + NNN Portfolio Opportunity in Decatur
$800,000
417-416 W Wood St, Decatur, IL 62522
16,248 sqft
Building Size
1 acres
Lot Area
Details:
Description:
Located just west of Downtown Decatur in a well-established mixed-use corridor, 417 W Wood Street benefits from proximity to the city’s central business district, major employers, and neighborhood retail and service providers. Decatur, a community of approximately 70,000 residents, serves as the economic hub of Macon County with strong healthcare, manufacturing, agribusiness, and logistics sectors anchored by employers such as ADM, Caterpillar, and Decatur Memorial Hospital. The property offers convenient access to key thoroughfares connecting to U.S. Route 36, IL Route 48, and Interstate 72, providing regional connectivity throughout Central Illinois while maintaining walkable access to surrounding residential neighborhoods and downtown amenities.
417 W Wood Street is a converted multifamily property featuring four 866 SF two-bedroom/one-bath apartment units on the second floor, currently in leasable condition, with a first floor comprised of office space, lobby area, and dormitory-style rooms. The layout presents a compelling value-add opportunity, as the first floor can be reconfigured to create four additional apartment units, significantly increasing rental income potential. Investors also have the option to purchase the property alongside the two adjacent buildings (447-461), which are currently occupied by Abbott EMS Services under triple net leases, providing immediate stabilized cash flow. The tenant has expressed a desire to continue leasing the garage and training facility building and is willing to collaborate with a new owner to structure long-term lease extensions, creating both near-term income stability and long-term upside through multifamily expansion. Additionally, this offering may be purchased as part of a broader portfolio that includes 1645 N 21st Street, Decatur, IL, and 1102 Ravina Park, Decatur, IL, both of which are occupied by the same tenant under triple net lease structures. The assets may be acquired individually or as a package, offering investors a combination of stabilized NNN income and value-add residential upside within the Decatur market.
Listing ID: 1648f699-9297-48cd-9c2b-4f8f1c46cecb
Documents:
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| Offering Memorandum |
Location
Gallery
