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Office

Regions Bank | Northtown Center

333 E Pershing Rd, Decatur, IL 62526

Listing Price: $2,707,468

Cap Rate
14.45%
Gross SF
27,455
Rentable SF
27,455
Price/Gross SF
$98.61
Lot Size
1.90 acres
Year Built
1968

Investment Overview

Marcus & Millichap is pleased to present a multi-tenant office building in Decatur, Illinois The property is located on very busy Pershing Road, a major east/west thoroughfare through North Decatur, with a daily traffic count of about 20,000 vehicles. The property is comprised of a two-story office building with a finished lower level that is leasable and included in the 27,455 square feet that make up the building. The property includes a six-lane drive up for the bank and 82 parking spaces. Current occupancy is 100 percent. No later than January 1, 2023, the top floor will become vacant reducing the vacancy to 79 percent, allowing the new owner to re-tenant the second floor. The building is anchored by Regions Bank, the wholly-owned subsidiary of Regions Financial Corporation. They occupy the first floor and lower level of the building. The second floor is currently occupied by Glenda Williamson Realty. She has purchased Vieweg Real Estate and will move into the current Vieweg space no later than January 1, 2023. Once this change is made, the second floor will be vacant. The vacancy rate is historically low on the Pershing Road corridor, with only one other space available. Regions Bank is the anchor tenant of the property and has been in the market for 70 years. They currently have three banking offices in the Decatur market and deposits at this facility are over $119,000,000 which is up from $64 million two years ago. The bank has approximately 1,302 banking offices. Their Standard & Poor's credit rating is BBB+. The corporation is located in Birmingham, Alabama, and serves the lower midwest, Texas and southeast portion of the United States.

Investment Highlights

  • Anchor Tenant is Regions Bank | Over $119,000,000 in Deposits
  • In the Market for Over 70 Years | Standard & Poor BBB+ Rating
  • Exceptional Value - Add Opportunity | No New Inventory Coming to Market
  • Over 20,000 Vehicles Pass Daily on Pershing Road
  • Current Occupancy is 100 Percent

Exclusively Listed By

Office

Regions Bank | Northtown Center

Listing Price: $2,707,468

Cap Rate
14.45%
Gross SF
27,455
Rentable SF
27,455
Price/Gross SF
$98.61
Lot Size
1.90 acres
Year Built
1968

Investment Highlights

  • Anchor Tenant is Regions Bank | Over $119,000,000 in Deposits
  • In the Market for Over 70 Years | Standard & Poor BBB+ Rating
  • Exceptional Value - Add Opportunity | No New Inventory Coming to Market
  • Over 20,000 Vehicles Pass Daily on Pershing Road
  • Current Occupancy is 100 Percent

Investment Overview

Marcus & Millichap is pleased to present a multi-tenant office building in Decatur, Illinois The property is located on very busy Pershing Road, a major east/west thoroughfare through North Decatur, with a daily traffic count of about 20,000 vehicles. The property is comprised of a two-story office building with a finished lower level that is leasable and included in the 27,455 square feet that make up the building. The property includes a six-lane drive up for the bank and 82 parking spaces. Current occupancy is 100 percent. No later than January 1, 2023, the top floor will become vacant reducing the vacancy to 79 percent, allowing the new owner to re-tenant the second floor. The building is anchored by Regions Bank, the wholly-owned subsidiary of Regions Financial Corporation. They occupy the first floor and lower level of the building. The second floor is currently occupied by Glenda Williamson Realty. She has purchased Vieweg Real Estate and will move into the current Vieweg space no later than January 1, 2023. Once this change is made, the second floor will be vacant. The vacancy rate is historically low on the Pershing Road corridor, with only one other space available. Regions Bank is the anchor tenant of the property and has been in the market for 70 years. They currently have three banking offices in the Decatur market and deposits at this facility are over $119,000,000 which is up from $64 million two years ago. The bank has approximately 1,302 banking offices. Their Standard & Poor's credit rating is BBB+. The corporation is located in Birmingham, Alabama, and serves the lower midwest, Texas and southeast portion of the United States.

Exclusively Listed By

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