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    631 E Washington St Springfield, IL 62701

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    For Lease
    $1,250 /Mo ($12 SF/Yr)

    Retail space in a prominent downtown Springfield corner location.

    Property size:
    1,250 SF
    Lot size:
    0.03 Acres

    Property Features for 631 E Washington St

    General Information

    Size
    1,250 SF
    Lot size
    0.03 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 Corner Retail Space

    This retail space is located in a prominent corner location in Downtown Springfield. The open concept space features high ceilings and windows on two sides, providing generous natural light. Direct access is available from the sidewalk. Multiple parking ramps, hotels, the BOS Convention Center, the Abraham Lincoln Presidential Museum, and Old State Capitol Plaza are located nearby. The space is suitable for many possible uses. The tenant is responsible for their separately metered utilities. The property size is 1250 square feet.
    Insight Report Location Intelligence

    Current Use by Public Records

    Retail space

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.647403
    Latitude
    39.801743

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    FAQs

    What type of property is this?
    Retail space - Retail space in a prominent downtown Springfield corner location.
    Where is this retail space located?
    The property is located at 631 E Washington 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: - Prominent corner location in Downtown Springfield.; - Open concept space with high ceilings.; - Generous natural light from windows on two sides.
    (217) 441-8000
    Request Owner's contact information
    631 E Washington 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
    631 E Washington St Springfield, IL 62701
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