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    108 Mason St Springfield, IL 62702

    Sponsored
    For Sale
    $184,000

    Fully paved & fenced parking lot. Great investment!

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    343
    This exceptional commercial property, located at 108 W Mason Street in Springfield, Illinois, presents a unique investment opportunity. The property consists of a fully paved and fenced parking lot, ideal for a variety of commercial uses. Its strategic location within Springfield offers excellent accessibility and visibility, making it an attractive option for businesses seeking convenient parking solutions for their employees or customers. The lot's size, while not specified in square footage, is entirely paved and secured by a perimeter fence, ensuring safety and ease of use. The asking price of $184,000 represents a compelling entry point into the Springfield commercial real estate market. Given the high demand for secure parking in urban areas, this property offers strong potential for rental income or appreciation. The absence of any existing structures on the lot allows for maximum flexibility in terms of future development or adaptation to specific parking needs. This is a turnkey investment opportunity requiring minimal capital expenditure, making it an attractive proposition for both seasoned investors and newcomers to the commercial real estate sector. The property is situated on a lot of zero acres, indicating a compact and efficiently utilized space. Serious inquiries are encouraged to explore this promising investment further.

    Property Features for 108 Mason St

    General Information

    Property type
    Other commercial real estate
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.65524
    Latitude
    39.80487

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    FAQs

    What type of property is this?
    Commercial real estate - Fully paved & fenced parking lot. Great investment!
    Where is this commercial real estate located?
    The property is located at 108 Mason St Springfield, IL.
    What is the asking price?
    The asking price for this property is $184,000.
    (217) 303-8445
    Request Owner's contact information
    108 Mason 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
    108 Mason St Springfield, IL 62702
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