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    507 N 4Th St Springfield, IL 62702

    For Sale
    $80,000

    Unique property with redevelopment potential near 4th & Carpenter.

    Property size:
    8,620 SF
    Lot size:
    0.31 Acres

    Property Features for 507 N 4Th St

    General Information

    Size
    8,620 SF
    Lot size
    0.31 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

    Redevelopment Opportunity Near 4th & Carpenter

    This unique property offers redevelopment potential near the intersection of 4th & Carpenter. It features a free-standing small street front retail/office building and a two-story concrete and brick warehouse behind it, which includes a useable basement. The warehouse has a raised loading dock entrance and two elevators/stairwell shafts. The property's total size is 8,620 square feet. This flexible property presents an opportunity to create an awesome space.
    Insight Report Location Intelligence

    Current Use by Public Records

    Office buildings

    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
    -89.650634
    Latitude
    39.80674

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    FAQs

    What type of property is this?
    Office building - Unique property with redevelopment potential near 4th & Carpenter.
    Where is this office building located?
    The property is located at 507 N 4Th St Springfield, IL.
    What is the asking price?
    The asking price for this property is $80,000.
    What are key features of this property?
    This property features: - Redevelopment potential in a desirable location near 4th & Carpenter.; - Unique property with a free-standing retail/office building and a two-story warehouse.; - Warehouse features a **raised loading dock entrance**.
    (217) 441-8000
    Request Owner's contact information
    507 N 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 N 4Th St Springfield, IL 62702
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