Spa and Wellness
1009 W ASH Street, Springfield, IL 62704
For Sale
$145,000
Commercial Sale, Springfield, IL
Property Size915 SF
Price / SF$158.47
Days on Market49
Property Features for 1009 W ASH Street
General Information
Property type
Property subtype
Zoning
Directions
Standard status
APN
Taxes and HOA fees
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Building Details
Floors in Building
Flooring type
Building materials
Roof type
Listing Agency:
The Real Estate Group, Inc.
(217) 787-7000
Listed By:
Xuna Hu
(847) 420-6588
Added: Sep 20
Changed: Oct 7
Last Checked: Nov 7 at 1:06PM
MLS# CA1046650
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.
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Investment Insights
Based on property information with market context.
This approximately 915-square-foot commercial property is configured for spa, wellness, and service-oriented operations. The interior includes three separate rooms, a reception or sitting area, 1.5 bathrooms, a kitchen, and a laundry area. One interior room does not have an egress window. The property previously operated as a massage therapy business, and the existing arrangement can support private rooms, offices, or customer-facing functions subject to B-1 zoning and applicable approvals.
Recent improvements include a newer roof and HVAC system, along with new paint and flooring. Additional physical features include vinyl siding, tile flooring, forced-air heating, central air, a composition roof, and public sewer service. The property is located in Springfield, Illinois, on W Ash Street.
Recent improvements include a newer roof and HVAC system, along with new paint and flooring. Additional physical features include vinyl siding, tile flooring, forced-air heating, central air, a composition roof, and public sewer service. The property is located in Springfield, Illinois, on W Ash Street.
Key Highlights
- Approximately 915 square feet of commercial space
- Three separate rooms plus reception or sitting area
- 1.5 bathrooms, kitchen, and laundry area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,056
Cap Rate
8.31%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$241,120
$241.1K
Cap Rate 7%
$172,229
$172.2K
Cap Rate 9%
$133,956
$134.0K
Market Conditions
NOI Build-Up for 915 SF
Gross rent
$20.1K $21.96/SF
− Vacancy
−$4.0K −$4.39/SF
EGI
$16.1K $17.57/SF
− OpEx
−$4.0K −$4.39/SF
NOI
$12.1K $13.18/SF
Area
Springfield, IL
Vacancy
20.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$241,120
Cap Rate 7%
$172,229
Cap Rate 9%
$133,956
Alternative Uses
Best Use
Office B
$172.2K
$150.7K – $200.9K
NOI $12,056 @ 7.0% cap · market cap 8.31%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$224.7K
$196.6K – $262.1K
NOI $15,726 @ 7.0% cap · market cap 10.85%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
615
Businesses Nearby
Under-served
Demand for This Use
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Business Placement
Demographics for 62704, IL
39,157
Population
20,706
Households
1.9
Avg Household Size
40
Median Age
42%
College-Educated
95%
High-School Grad
12.2 sq mi
ZIP Area
3,210
Density / Sq Mi
$66,352
Median Household Income
$44,793
Median Earnings
$924
Median Rent
$166,900
Median Home Value
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Market
Vacancy Rate% for Office in Midwest region
Similar Off Market Nearby
- Frisina Possibilities — 1535 S MacArthur Blvd, Springfield, IL 62704
- Solstice Acupuncture & Apothecary — 301 S Grand Ave W, Springfield, IL 62704
Frequently Asked Questions
What type of property is this?
Spa & wellness property - Flexible commercial layout with private rooms, reception space, kitchen, and laundry area.
Where is this spa & wellness property located?
The property is located at 1009 W ASH Street Springfield, IL.
What is the asking price?
The asking price for this property is $145,000.
What are key features of this property?
This property features: Approximately 915 square feet of commercial space; Three separate rooms plus reception or sitting area; 1.5 bathrooms, kitchen, and laundry area
