VALUE ADD - Mutual of Omaha - Met Life | 45% of Income from Mutual of Omaha, Met Life, and Berkshire Hathaway Automotive | $500,000 in Extensive Interior and Exterior Renovations
Listing was updated at: 01/10/2019
Property Overview
Price/Rent PSF $ 980,000.00
Asset Type Office
Trade Type Sale
SQ. FT. Available 19,330
Date Available 01/10/2019
Floors 3
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Description

Location
Marcus & Millichap is pleased to present for sale the multi-tenant, modern three-story office complex located at 5130 Hickory Point Frontage Road in Decatur, Illinois. The building was originally a build-to-suit for Met Life Insurance, which makes the office space ideal for professional and medical practice.

The subject property offers a strong tenancy mix of national and regional tenants including Met Life Insurance, Mutual of Omaha, Berkshire Hathaway Automotive, Illinois State Senator Chapin Rose, and other professional tenants. The building is 70 percent occupied.

The subject property is in pristine condition with no deferred maintenance. It has seen $500,000 in extensive interior and exterior renovation on all major capital expense items from 2009-2016. The roof, siding, gutters, soffits, carpets, floors, and lighting have all been replaced along with three new HVAC units. Also, windows on the south side of the building has been replaced. It features a 50-space parking lot with a concrete surface which requires no maintenance, plus the site includes an additional two-car garage. In 2011, the subject property was professionally re-landscaped.

Decatur is centrally located, lying 40 miles east of Springfield, Illinois; 45 miles south of Bloomington-Normal, Illinois; 50 miles southwest of Champaign-Urbana, Illinois; 135 miles northeast of St. Louis, Missouri; 150 miles west of Indianapolis, Indiana; and 180 miles southwest of Chicago.

Sale
Marcus & Millichap is pleased to present for sale the multi-tenant, modern three-story office complex located at 5130 Hickory Point Frontage Road in Decatur, Illinois. The building was originally a build-to-suit for Met Life Insurance, which makes the office space ideal for professional and medical practice.

The subject property offers a strong tenancy mix of national and regional tenants including Met Life Insurance, Mutual of Omaha, Berkshire Hathaway Automotive, Illinois State Senator Chapin Rose, and other professional tenants. The building is 70 percent occupied.

The subject property is in pristine condition with no deferred maintenance. It has seen $500,000 in extensive interior and exterior renovation on all major capital expense items from 2009-2016. The roof, siding, gutters, soffits, carpets, floors, and lighting have all been replaced along with three new HVAC units. Also, windows on the south side of the building has been replaced. It features a 50-space parking lot with a concrete surface which requires no maintenance, plus the site includes an additional two-car garage. In 2011, the subject property was professionally re-landscaped.

Decatur is centrally located, lying 40 miles east of Springfield, Illinois; 45 miles south of Bloomington-Normal, Illinois; 50 miles southwest of Champaign-Urbana, Illinois; 135 miles northeast of St. Louis, Missouri; 150 miles west of Indianapolis, Indiana; and 180 miles southwest of Chicago.

Location