334 W Main St

This mixed-use property represents a value-add investment opportunity combining stabilized residential income with significant commercial upside potential. The residential component consists of 8 fully renovated apartment units generating $8,800 in monthly rental income. These units feature modern amenities including granite countertops, luxury vinyl plank flooring, and stainless steel appliances. Roof was completely replaced 10 years ago and preventative patching within the last two years. 2 new HVAC units and all units are inspected and tested every 6 months. All electrical and plumbing on second floor has been updated. The commercial component includes 7,800 square feet of main-level retail/office space and an additional 6,000 square feet of basement area formerly configured for laboratory use. The commercial space is currently vacant and available for lease at market rates of approximately $9 per square foot, representing potential additional monthly income of $5,850. Property infrastructure includes 32 parking spaces on a 0.55-acre lot, handicap accessibility, security systems, and utility capacity suitable for various commercial applications. Current monthly operating expenses total $3,491, including taxes ($1,192), insurance ($500), utilities ($1,500), and maintenance ($300). The property is situated on West Main Street in downtown Decatur, positioning it within the city’s primary commercial corridor. Decatur serves as the county seat of Macon County and hosts several major employers, including Archer Daniels Midland Company headquarters, providing economic stability to the region. The downtown area has experienced renewed development activity in recent years, with municipal and private investment focused on revitalization efforts. The property’s location offers high visibility, pedestrian traffic, and proximity to Millikin University, which contributes to local economic activity and potential commercial tenant demand. Transportation access includes public transit routes and major roadway connections, while the walkable downtown environment supports retail and service businesses. The ongoing downtown improvement initiatives suggest positive momentum for commercial real estate values and leasing activity.