2003 W Monroe St, Springfield, IL
Redevelopment opportunity with drive-thru and outdoor patio.
- Added:
- Aug 25, 2025
- Days on Market:
- 316
- Last Refresh:
- May 20 at 9:13 pm
Property Features for 2003 W Monroe St
General Information
- Standard status
- Active
- Size
- 1,815 SF
- Lot size
- 0.34 Acres
- Property subtype
- RETAIL
Listing office Coldwell Banker Commercial Devonshire Realty (217) 725-9518
Listing date Aug 25, 2025
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 Coldwell Banker Commercial Devonshire Realty
HighLights
- Excellent redevelopment or repositioning opportunity.
- Freestanding building with drive‑thru.
- Highly visible site.
- Enjoy the outdoor patio.
- Prominent signage.
- Affordable price point.
Overview
Local Financial Insights For Specialty Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $35.9k | $19.80 |
| − Vacancy | −$2.3k | −$1.29 |
| EGI | $33.6k | $18.51 |
| − OpEx | −$8.4k | −$4.63 |
| NOI | $25.2k | $13.88 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Sangamon
- State
- Illinois
- Longitude
- -89.6263
- Latitude
- 39.7992
