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Runway Strip Center 1910 S Mount Zion Rd

8,712 SF 89% Leased Retail Building Decatur, IL 62521 £2,223,737 (£255/SF) 7.02% Net Initial Yield

Investment Highlights

  • Established Tenant Mix: Anchored by national brands like Jimmy John’s, Buffalo Wild Wings, H&R Block, and Hangar Orthopedics
  • Strong Net Leases: Tenants cover property taxes, insurance, and maintenance, reducing management responsibilities for investors
  • Strategic Location: Prominently located in a busy Decatur retail corridor near major thoroughfares, providing visibility and accessibility
  • High Occupancy Rate: Currently 89% occupied, ensuring cash flow and leaving room for a value add opportunity
  • Annual Rent Increases: Built-in 2% annual rent escalations at minimum across current leases offer a hedge against inflation
  • Management fee: Tenants pay a ten percent management fee on CAM expenses, providing additional income

Executive Summary

Runway Strip Center is a highly-trafficked retail strip located within immediate proximity to the entrance of the regional Decatur Airport. Featuring shallow-depth small footprint spaces and end cap drive-thru/to go national anchor tenants, the center is experiencing positive leasing momentum with the recent addition of Buffalo Wild Wings GO and additional leasing activity. The center has a high visibility location to a state highway and airport on a signalized intersection.

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Storefront
Building Size
8,712 SF
Building Class
C
Year Built
2010
Price
£2,223,737
Price Per SF
£255
Net Initial Yield
7.02%
NOI
£156,088
Percent Leased
89%
Tenancy
Multiple
Number of Floors
1
Building FAR
0.21
Land Acres
0.97 AC
Zoning
MUNICIPAL

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 09-13-28-101-010
  • 09-13-28-101-009
Land Assessment
£317,319
Improvements Assessment
£433,667
Total Assessment
£750,986
  • Listing ID: 33909745

  • Date on Market: 18/11/2024

  • Last Updated:

  • Address: 1910 S Mount Zion Rd, Decatur, IL 62521

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