Fully Equipped Restaurant and
301 W N Grand Avenue Springfield, IL 62702
301 W N Grand Avenue, Springfield, IL, 62702
$469,900
For Sale
$469,900
COMMERCIAL - Springfield, IL
Property Size4,800 SF
Price / SF$97.90
Days on Market447
Property Features for 301 W N Grand Avenue
General Information
- Property type
- Commercial Sale
- Property subtype
- Other
- Zoning
- B-1
- Standard status
- Active
- APN
- 14210479027
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 12931
Utilities
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Central Air
Building Details
- Floors in Building
- 1
- Flooring type
- Tile, Concrete
- Building materials
- Block, Stucco
- Roof type
- Metal
Listing Agency
RE/MAX Professionals
(217) 787-7215
2667 Farragut Drive, Springfield, IL
Listed by
Melissa Vorreyer · License #475100751
(217) 652-0875
Added: Apr 28, 2025 Checked: Jul 18 at 12:06 pm
MLS# CA1036012
Copyright © 2026 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This fully equipped restaurant and bar includes an open dining area, a sectioned-off bar, and a spacious, fully outfitted kitchen with pizza ovens, a walk-in cooler and freezer, and included restaurant equipment and small wares. Tables, chairs, and essential fixtures are also included, supporting immediate operation.
The property is located at 301 W N Grand Avenue in Springfield, Illinois, and sits on four parcels with ample parking. It has a new roof installed in 2018.
Zoned B-1, the layout also has the space to accommodate a drive-through window addition, which could expand service capabilities beyond the current setup.
The property is located at 301 W N Grand Avenue in Springfield, Illinois, and sits on four parcels with ample parking. It has a new roof installed in 2018.
Zoned B-1, the layout also has the space to accommodate a drive-through window addition, which could expand service capabilities beyond the current setup.
Key Highlights
- Approx. 4,800 SF fully equipped commercial restaurant and bar space
- Open dining area plus sectioned‑off bar and spacious fully outfitted kitchen
- Kitchen includes pizza ovens, walk‑in cooler and freezer, and included restaurant equipment and small wares
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $43.2k | $9.00 |
| − Vacancy | −$2.2k | −$0.45 |
| EGI | $41.0k | $8.55 |
| − OpEx | −$12.3k | −$2.56 |
| NOI | $28.7k | $5.98 |
4,800 SF · lease $9.00/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$952.1K
$833.1K – $1.11M
NOI $66,647 @ 7.0% cap · market cap 14.18%
Second Best
Industrial
$410.4K
$359.1K – $478.8K
NOI $28,728 @ 7.0% cap · market cap 6.11%
Theoretical Best
Office A
$1.18M
$1.03M – $1.37M
NOI $82,495 @ 7.0% cap · market cap 17.56%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Instinct Fitness and Wellness
Gym & Fitness Center
Trailhead Center for Yoga ...
Gym & Fitness Center
Holistic Body Transformation
Weight Loss Service
Timeless Beauty MedSpa
Spa & Massage Center
Solstice Acupuncture & Apothecary
Medical Clinic
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FAQs
What type of property is this?
Conventional restaurant - Restaurant and bar space with open dining, bar area, and a fully outfitted kitchen, including pizza ovens and walk-ins.
Where is this conventional restaurant located?
The property is located at 301 W N Grand Avenue Springfield, IL.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Approx. 4,800 SF fully equipped commercial restaurant and bar space; Open dining area plus sectioned‑off bar and spacious fully outfitted kitchen; Kitchen includes pizza ovens, walk‑in cooler and freezer, and included restaurant equipment and small wares
