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    251-261 N 4Th St Springfield, IL 62701

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    For Lease
    $12 SF/Yr ($1,560 /Mo)

    Street-front business locations in a mixed-use development.

    Property size:
    1,560 SF
    Lot size:
    0.89 Acres

    Property Features for 251-261 N 4Th St

    General Information

    Size
    1,560 SF
    Lot size
    0.89 Acres

    Source: Todd P Smith Commercial Real Estate Agent Todd P. Smith

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Downtown Springfield Commercial Space Available

    Located in downtown Springfield, Illinois, this commercial space is positioned between the central business district and the Mid-Illinois Medical District. The property is part of a new mixed-use development that includes over 75 residential apartments. The available space is suitable for a variety of uses, including restaurant, retail, and office. The property offers street-front business locations with potential for various business types. The unit provides 1560 square feet of space.
    Location Intelligence

    Current Use by Public Records

    Office space

    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
    -89.650812
    Latitude
    39.800057

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    FAQs

    What type of property is this?
    Office space - Street-front business locations in a mixed-use development.
    Where is this office space located?
    The property is located at 251-261 N 4Th St Springfield, IL.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: - Prime downtown Springfield location in a high-traffic area.; - Located in a new mixed-use development with over 75 residential apartments.; - Street-front business location with high visibility.
    (217) 441-8000
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    251-261 N 4Th St Springfield, IL 62701
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    Springfield, IL 62701
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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
    251-261 N 4Th St Springfield, IL 62701
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