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Springfield Commercial Property on 6th

1701 S 6th St, Springfield, IL

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For Sale

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Corner lot with high visibility and accessibility in Springfield, IL.

Type:RETAIL

Property size:

2,550 SF

Lot size:

0.33 Acres

Price / SF:

$196/SF

HighLights

High‑traffic location on 6th Street with approximately 12,200 cars daily.
Corner lot with high visibility and accessibility.
Zoned S‑2, suitable for a variety of uses.
Existing +/-2,550 sq ft building with overhead doors and paved lot.
Access from both 6th Street and Spruce Street.
On‑site pole sign for enhanced visibility.

We can help!

Contact an agent

Kevin Reinke

For Sale

Contact for pricing

Corner lot with high visibility and accessibility in Springfield, IL.

Type:RETAIL

Property size:

2,550 SF

Lot size:

0.33 Acres

Price / SF:

$196/SF

Added:: Dec 27, 2022
Days on Market:: 1278
Last Refresh:: May 19 at 10:54 pm

Property Features for 1701 S 6th St

General Information

Standard status: Active
Size: 2,550 SF
Lot size: 0.33 Acres
Property subtype: RETAIL

We can help!

Contact an agent

Kevin Reinke

Listing office Mid-America Real Estate Group | Chicago

Listing date Dec 27, 2022

Source Moodyscre

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

All listing content including descriptions, pricing, images are the copyrighted material of Mid-America Real Estate Group | Chicago

HighLights

High‑traffic location on 6th Street with approximately 12,200 cars daily.
Corner lot with high visibility and accessibility.
Zoned S‑2, suitable for a variety of uses.
Existing +/-2,550 sq ft building with overhead doors and paved lot.
Access from both 6th Street and Spruce Street.
On‑site pole sign for enhanced visibility.

Overview

This property, situated on a corner lot at 6th and Spruce in Springfield, Illinois, is zoned S-2 by the City of Springfield. The site features a building of approximately 2,550 square feet and a storage shed, positioned on approximately 0.4 acres. Located on 6th Street, a major one-way thoroughfare, the property benefits from high visibility and accessibility, with a daily traffic flow of approximately 12,200 cars. The site is enhanced by an on-site pole sign. Previously a quick lube facility, the property includes overhead doors, access from both streets, and a paved lot. It contains two tax parcels and is ideal for a variety of uses.

Local Financial Insights For Retail

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$45.9k	$18.00
− Vacancy	−$3.7k	−$1.44
EGI	$42.2k	$16.56
− OpEx	−$12.7k	−$4.97
NOI	$29.6k	$11.59

2,550 SF · lease $18.00/SF/yr · vacancy 8.00% · expense 30.00%

Alternative Uses

Best Use

Retail

$422.3K

$369.5K – $492.7K (±1% cap)

NOI $29,560 @ 7.0% cap · market cap 5.91%

Second Best

Industrial

$218.0K

$190.8K – $254.4K (±1% cap)

NOI $15,262 @ 7.0% cap · market cap 3.05%

Theoretical Best

Office A

$626.1K

$547.8K – $730.4K (±1% cap)

NOI $43,825 @ 7.0% cap · market cap 8.77%

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

Property Profile Location Intelligence

Current Use by Public Records

Auto shops

Suggested Use

Similar Places Nearby

Elite Emergency Roadside & Towing Assistance — 100 Outer Park Dr, Springfield, IL 62756
Lawn man — E Cornell Ave, Springfield, IL 62703
Eurosport — 2160 S 9th St, Springfield, IL 62703
Splat Automotive — 2448 S 16th St, Springfield, IL 62703
Glen Towing - Tow Truck Service — 2028 S Lowell Ave, Springfield, IL 62704

Location Insight

Map
Local Demand

City: Springfield
County: Sangamon
State: Illinois
Longitude: -89.6484
Latitude: 39.7834

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For sale
Auto shops
IL
Springfield
1701 S 6th St

What type of property is this?

Auto shop - Corner lot with high visibility and accessibility in Springfield, IL.

Where is this auto shop located?

The property is located at 1701 S 6th St 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: High‑traffic location on 6th Street with approximately 12,200 cars daily.; Corner lot with high visibility and accessibility.; Zoned S‑2, suitable for a variety of uses.

1701 S 6th St, Springfield, IL

Corner lot with high visibility and accessibility in Springfield, IL.

Property Features for 1701 S 6th St

General Information

We can help!

HighLights

Overview

Local Financial Insights For Retail

Simulate Cap Rate and NOI

Alternative Uses

Current Use by Public Records

Suggested Use

Similar Places Nearby

Location Insight

Nearby Similar for Sale

Versatile Commercial Property, Springfield, IL

Spacious Office Building, Springfield, IL

Multi-Purpose Building with Basketball Court

Warehouse & Flex Distribution Facility

Versatile Commercial Property in Springfield

Springfield Industrial Park Warehouse Building

Springfield Strip Mall For Sale

Indoor Trampoline Entertainment Facility

Well-Maintained Office Building

Class A Office Building with Elevator Access

Warehouse with Multiple Overhead Doors

Multi-Unit Office and Retail Building

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