Regions Bank - Northtown Center

Regions Bank - Northtown Center

Anchor Tenant Regions Bank | Over $64M in Deposits | Over 1,500 Locations Nationwide


Regions Has Been in the Market for Over 70 Years | Standard & Poor's A- Rating
Exceptional Value-Add Opportunity | Lease Up of Second Floor
No New Office Inventory Coming to the Market
Over 20,000 Vehicles Pass Daily on Pershing Road

333 East Pershing Road, Decatur, IL 62526

Request Offering Memorandum

Market Summary

Price                              $3,300,00

Cap Rate                        10.10%

NOI                                $333,424 

Rentable SF                    27,455 SF

Price per SF                  $120.20

Year Built/Renovated    1968/2012

Lot Size                           1.9 Acres

Description

Marcus & Millichap is pleased to present a multi-tenant office building in Decatur, Illinois. The property is located on the 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 73.3 percent, with the top floor currently vacant.

The building is anchored by Regions Bank, the wholly-owned subsidiary of Regions Financial Corporation. The bank occupies the first floor and lower level of the building. The second floor is currently vacant. The first-floor space that is occupied by Vieweg Real Estate has been updated recently. The vacancy rate is historically low on the Pershing Road corridor, only having the space in this building available. The space is available due to the bank downsizing its footprint.

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 $64 million. The bank has approximately 1,500 banking offices and 2,000 ATM's. Their Standard & Poor's credit rating is A minus. The corporation is located in Birmingham, Alabama and serves the lower midwest, Texas and the southeast portion of the United States.

Contact Us


The Saia | Andrew Group of Marcus & Millichap

Tammy Saia Info
(630) 570-2226
tsaia@marcusmillichap.com

Tami Andrew Info

(630) 570-2179

tandrew@marcusmillichap.com

© 2020 by Marcus & Millichap Saia | Andrew Group.