Flex Space with Dock
For Sale
$500,000
Pending
1415 E JEFFERSON Street, Springfield, IL 62703
Commercial Sale, Springfield, IL
Property Size4,752 SF
Days on Market2409
Property Features for 1415 E JEFFERSON Street
General Information
Property type
Commercial Sale
Property subtype
Other
Directions
E. Washington to 14th, head north to property
Standard status
Pending
APN
14270485026
Listing Agency:
The Real Estate Group
(217) 787-7000
Listed By:
Curtis Tillett · License #475089421
(217) 553-7022
Added: Mar 1, 2020
Changed: Sep 7
Last Checked: Oct 5 at 4:06PM
MLS# CA998515
Copyright © 2026 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This flex space property includes a primary office/warehouse facility with 4,752 SF of office area and 6,448 SF of warehouse space. The building offers a 20' ceiling height and three dock doors, supporting a combination of administrative and storage functions. It was formerly occupied by UCP.
Three smaller buildings are also located on the property and are considered tear-downs. The main facility may be acquired separately or together with other UCP buildings, providing flexibility in structuring the purchase.
Three smaller buildings are also located on the property and are considered tear-downs. The main facility may be acquired separately or together with other UCP buildings, providing flexibility in structuring the purchase.
Key Highlights
- 4,752 SF of office space and 6,448 SF of warehouse space
- 20' ceiling height in the primary building
- 3 dock doors provide loading access
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,031
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$740,620
$740.6K
Cap Rate 7%
$529,014
$529.0K
Cap Rate 9%
$411,456
$411.5K
Market Conditions
NOI Build-Up for 4,752 SF
Gross rent
$45.6K $9.60/SF
− Vacancy
−$2.1K −$0.43/SF
EGI
$43.6K $9.17/SF
− OpEx
−$6.5K −$1.38/SF
NOI
$37.0K $7.79/SF
Area
Springfield, IL
Vacancy
4.50%
Lease Rate
$9.60 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$740,620
Cap Rate 7%
$529,014
Cap Rate 9%
$411,456
Alternative Uses
Best Use
Office B
$894.5K
$782.7K – $1.04M
NOI $62,612 @ 7.0% cap · market cap 12.52%
Second Best
Flex RnD
$678.3K
$593.5K – $791.4K
NOI $47,481 @ 7.0% cap · market cap 9.50%
Theoretical Best
Office A
$1.17M
$1.02M – $1.36M
NOI $81,670 @ 7.0% cap · market cap 16.33%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Lease Details
20 ft
Clear height
3
Dock-high doors
Location Intelligence
Trade Area within ½ mile
1,223
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 62703, IL
28,344
Population
14,320
Households
2
Avg Household Size
37
Median Age
21%
College-Educated
85%
High-School Grad
14.9 sq mi
ZIP Area
1,902
Density / Sq Mi
$44,580
Median Household Income
$36,345
Median Earnings
$971
Median Rent
$93,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse configuration with multiple loading points and additional buildings requiring removal.
Where is this flex space located?
The property is located at 1415 E JEFFERSON Street Springfield, IL.
What is the asking price?
The asking price for this property is $500,000.
What are key features of this property?
This property features: 4,752 SF of office space and 6,448 SF of warehouse space; 20' ceiling height in the primary building; 3 dock doors provide loading access
