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    507 4Th St Springfield, IL 62702

    Sponsored
    For Sale
    $90,000

    Versatile Two-Building Property, High Potential

    Property size:
    8,500 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    343
    This exceptional Springfield, IL commercial property presents a unique redevelopment opportunity. Located at 507 N 4th Street, near the intersection of 4th & Carpenter, this 0.3-acre lot encompasses two distinct buildings totaling 8,500 square feet. The property features a charming street-front retail building, approximately 700 square feet, ideal for a variety of uses. Behind this sits a substantial two-story warehouse constructed of concrete and brick, further enhanced by a usable basement area. The warehouse boasts a practical raised loading dock for efficient logistics, along with two elevator and stairwell shafts, adding to its functional versatility. This combination of retail and warehouse space offers significant flexibility for adaptive reuse, catering to a wide range of commercial ventures. The property's prime location in Springfield ensures high visibility and accessibility, making it an attractive investment for entrepreneurs and developers alike. The asking price of $90,000 presents a compelling opportunity to acquire a rare and adaptable property in a thriving Illinois market. Don't miss this chance to transform this unique space into a thriving commercial enterprise. The property's solid construction and strategic location promise a strong return on investment for the discerning buyer.

    Property Features for 507 4Th St

    General Information

    Property type
    Other commercial real estate
    Square Feet
    8,500 SF
    Lot Size
    13,068 SF

    Building Details

    Year Built
    1900
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Law Firm Dental Office Hair Salon Nail Salon Clothing Store Gym & Fitness Building Supply

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.65114
    Latitude
    39.80652

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    FAQs

    What type of property is this?
    Commercial real estate - Versatile Two-Building Property, High Potential
    Where is this commercial real estate located?
    The property is located at 507 4Th St Springfield, IL.
    What is the asking price?
    The asking price for this property is $90,000.
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    507 4Th St Springfield, IL 62702
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    Springfield, IL 62702
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    Realmo Value Estimation

    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.

    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.

    Alternative use

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

    More about this property
    507 4Th St Springfield, IL 62702
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