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    920 Grand Ave Springfield, IL 62702

    For Sale
    $1,200,000

    High-Visibility CVS Building, 1.95 Acres

    Property size:
    15,251 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    309
    This exceptional 15,251 square foot freestanding commercial building, formerly a CVS Pharmacy, presents a unique investment opportunity in Springfield, Illinois. Situated on a prominent 1.95-acre corner lot at 920 E North Grand Avenue, the property boasts unparalleled visibility thanks to its traffic-signal access and pylon signage. High traffic counts and a strong demographic profile in the surrounding trade area ensure significant potential for a variety of commercial uses. The building itself is well-equipped with a convenient drive-thru, a hydraulic lift for efficient material handling, a comprehensive wet sprinkler system for safety, and a walk-in cooler, ideal for businesses requiring temperature-controlled storage. Ample parking is available on-site, catering to the needs of customers and employees. This strategically located property benefits from its inclusion in both the Enos Park Tax Increment Financing (TIF) District and the Springfield/Sangamon County Enterprise Zone, offering potential access to valuable economic incentives. Interested parties should explore the available incentives through the appropriate channels. This is a rare chance to acquire a well-maintained, high-traffic commercial property in a desirable location with significant growth potential. The asking price is $1,200,000.

    Property Features for 920 Grand Ave

    General Information

    Property type
    Other commercial real estate
    Square Feet
    15,251 SF
    Lot Size
    84,942 SF

    Building Details

    Year Built
    2001
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Coinstar Vending Machine Supplier Coinhub Bitcoin ATM ... Atm LibertyX Bitcoin ATM Atm MoneyGram Money Transfer Service CDReload - Online Bitcoin ... Crypto Atm

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.64246
    Latitude
    39.81567

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    FAQs

    What type of property is this?
    Commercial real estate - High-Visibility CVS Building, 1.95 Acres
    Where is this commercial real estate located?
    The property is located at 920 Grand Ave Springfield, IL.
    What is the asking price?
    The asking price for this property is $1,200,000.
    Request Owner's contact information
    920 Grand Ave 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
    920 Grand Ave Springfield, IL 62702
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