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    Blake Pryor, Ccim, Springfield, IL

    License ID: 475159138
    Coldwell Banker Commercial Devonshire Realty
    Association
    Capital Area Association Of Realtors

    Service Locations

    Contact details

    Phone:
    (217) 547-6650
    Office Address:
    427 E. Monroe St., Suite 400, Springfield, IL, 62701

    Performance

    Listings
    35

    Listings

    For Sale (11)

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    • Contact for pricing
      15,251 SF

      Freestanding Retail Property on Corner Lot

      High-visibility retail property with ample parking and strategic location.
      920 N Grand Ave E, Springfield, IL 62702
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    • $1,800,000
      36,631 SF

      Class A Freestanding Office Facility

      Exceptional Class A office building with high-end finishes and modern conveniences.
      740 E Ash St, Springfield, IL 62703
      View Details
    • $2,900,000
      36,631 SF

      36,631 SF on 2.39 AC Exceptional Class A Office Facility For Sale Or Lease

      36,631 SF on 2.39 AC Exceptional Class A Office Facility For Sale Or Lease
      740 E. Ash St., Springfield, IL 62703
      View Details
    • $1,800,000

      Class A Freestanding Office Facility

      Exceptional Class A office building with high-end finishes and modern amenities.
      740 E Ash St, Springfield, IL 62703
      View Details
    • $900,000
      17,204 SF

      Tudor Revival Office Building

      Iconic office building near Illinois State Capitol and Downtown Springfield.
      615 S 2Nd St, Springfield, IL 62704
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    • $135,000
      4,236 SF

      Adaptable Retail Building For Sale

      4,236 SF building with showroom, shop, and storage.
      2908 Ridge Ave, Springfield, IL 62702
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    • $399,000
      1,815 SF

      Freestanding Building with Drive-Thru

      Redevelopment opportunity with drive-thru and outdoor patio.
      2003 W Monroe St, Springfield, IL 62703
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    • $47,500

      Commercial Site Ready For Development

      Commercial site available for development in Springfield, Illinois.
      6410 S 6Th St E, Springfield, IL 62703
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    • $47,500

      Commercial Site Ready For Development

      0.69-acre commercial site suitable for various developments.
      6410 St Frontage Rd E, Springfield, IL 62712
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    • $195,000

      Well-Maintained Office Building For Sale

      Prominent office building in Springfield's Medical District with expansion potential.
      1128 N Rutledge St, Springfield, IL 62702
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    • $199,000

      Established Car Wash Business Opportunity

      Operating car wash with potential for barbershop rental income.
      300 N Grand Ave W, Springfield, IL 62704
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    For Lease (24)

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      Downtown Springfield Office Suites Available

      Individual office suites for lease near downtown Springfield.
      1209 S 4Th St, Springfield, IL 62703
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    • $14 SF/Yr
      4,275 SF

      Lincoln Building Office Suites

      Downtown Springfield Office Space Available
      217 Monroe St, Springfield, IL 62701
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    • $505 /Mo
      12,500 SF

      West Side Office Space For Lease

      West Side Office Space For Lease
      386 S Koke Mill Rd, Springfield, IL 62711
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    • $2,500 /Mo
      2,022 SF

      Professional Office Space For Lease

      Prime office space in Springfield's Ginger Creek Office Park.
      3330 Ginger Creek Dr, Springfield, IL 62711
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    • $8 SF/Yr
      6,000 SF

      Heated Warehouse Space Available

      6,000 SF heated warehouse with office space for lease.
      6100 S 2Nd St, Springfield, IL 62711
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    • $12 SF/Yr
      1,945 SF

      Remodeled Office Space Available

      Move-in ready office space with flexible layout.
      605-615 W Jefferson St, Springfield, IL 62702
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    • $20 SF/Yr
      114,158 SF

      Hollis Drive Office Space Available

      Sublease opportunity ideal for corporate, healthcare, or administrative users.
      3051 Hollis Dr, Springfield, IL 62711
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    • $6 SF/Yr
      9,900 SF

      Warehouse Space with Office

      9,900 SF warehouse space with offices for lease.
      3925 N Peoria Rd, Springfield, IL 62702
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    • $14 SF/Yr
      2,800 SF

      Retail Space in Ginger Creek

      Retail leasing opportunity in Springfield's thriving west side.
      3200 Ginger Creek Dr, Springfield, IL 62711
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    • $18 SF/Yr
      1,747 SF

      Retail Space on S 6th

      Retail space with high visibility and strong co-tenancy.
      3114-3126 S 6Th St, Springfield, IL 62703
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    • $14 SF/Yr
      3,300 SF

      Flexible Office Space Available

      Customizable office space with high-speed internet in Springfield, IL.
      2475 W Monroe St, Springfield, IL 62704
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    • $10 SF/Yr
      2,722 SF

      Retail Space in Sangamon Center

      Retail or office space available in high-traffic Sangamon Center.
      1861 E Sangamon Ave, Springfield, IL 62702
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    • $485 /Mo
      2,241 SF

      Office Suite with Open Layout

      2,241 SF office suite featuring an open floor plan.
      828 S 2Nd St, Springfield, IL 62704
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    • $675 /Mo
      650 SF

      Lower-Level Office Suite For Rent

      Lower-level office suite with open area and private office.
      5221 6Th St, Springfield, IL 62703
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    • $19 SF/Yr
      1,715 SF

      Springfield Office Condo For Lease

      1,715 SF office space with reception and private offices.
      2925 Meadowbrook Rd, Springfield, IL 62711
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    • $18 SF/Yr
      2,500 SF

      Retail Space with Bar Potential

      Up to 6,500 SF available, potential for bar setup.
      3101 S Macarthur Blvd, Springfield, IL 62704
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    • $15 SF/Yr
      1,600 SF

      Montvale Office Space Available

      Small office space for lease in Montvale Commercial Business Park.
      2609 Montega Dr, Springfield, IL 62704
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    • $375 /Mo
      126 SF

      Downtown Springfield Office Space Available

      Two individual offices for lease near Downtown Springfield.
      1209 S 4Th St, Springfield, IL 62703
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    • $18 SF/Yr
      1,250 SF

      Retail Space in Jerome Center

      Retail space available in high-traffic Wabash Ave corridor.
      1312 Wabash Ave, Springfield, IL 62704
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    • $26 SF/Yr
      3,090 SF

      Restaurant Space with Drive-Thru

      Restaurant space available for rent with drive-thru.
      3150 S 6Th St, Springfield, IL 62703
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    • $17 SF/Yr
      1,825 SF

      Retail Space in Forsyth Plaza

      Retail space in Forsyth with high traffic and visibility.
      1260 Us-51, Forsyth, IL
      View Details
    • $15 SF/Yr
      1,415 SF

      Prime Retail Space in Springfield

      Highly visible retail space with excellent co-tenancy and traffic.
      2518-2526 N Dirksen Pkwy, Springfield, IL 62702
      View Details
    • Contact for pricing

      Turnkey Healthcare Space in Springfield

      Turnkey healthcare and medical clinic space for sublease in Springfield.
      2345 S Macarthur Blvd, Springfield, IL 62704
      View Details
    • Contact for pricing

      Retail Space in Taylorville Crossing

      End-cap retail space in a Walmart Shadow Center.
      1528 W Springfield Rd, Taylorville, IL 62568
      View Details

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    Blake Pryor, Ccim, Springfield, IL
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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