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    Versatile Industrial Property Near Springfield Title is generated by Realmo AI

    2675 Overpass Road, Riverton, IL 62561

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    Claim this Listing
    For Sale
    $3,200,000

    COMMERCIAL - Riverton, IL

    Lot size:
    7.00 Acres
    Added:
    Jul 11, 2025
    Days on Market:
    307
    Last Refresh:
    May 13 at 11:06 am

    Property Features for 2675 Overpass Road

    General Information

    Property type
    Commercial Sale
    Property subtype
    Other
    Zoning
    C2
    Parking
    30
    Standard status
    Active
    APN
    15150276010
    Lot size
    7.00 Acres

    Taxes and HOA fees

    Tax Year
    2024
    Tax Description
    ADDITIONAL PARCELS CAN BE PURCHASED WITH THIS PROPERTY.
    Tax Annual Amount
    9693

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air, Natural Gas
    Cooling system
    Central Air

    Building Details

    Year built
    2017
    Floors in Building
    1
    Flooring type
    Wood, Tile, Concrete, Carpet
    Building materials
    Brick, Steel Frame, Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    Melissa Grady

    Listing agent Melissa Grady License #475114067

    Listing office The Real Estate Group, Inc. 3701 West Wabash, Springfield, IL

    Listing date Jul 11, 2025

    MLS# CA1037767

    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.

    HighLights

    • Strategic location off I‑72 & Route 36, near Springfield, ideal for logistics and service‑based businesses.
    • Versatile industrial property suitable for a wide range of users (construction, storage, trucking, equipment rental, etc.).
    • Located in a proven commercial district with strong traffic, infrastructure, and established national/regional users.
    • Secure, hidden‑from‑public‑view ground suitable for vehicle repossession, controlled access, fleet staging, and secure storage.
    • Relatively new construction (Year Built: 2017).
    • Potential eligibility for Commercial TIF incentive.

    Overview

    This versatile industrial property is located just off I-72 and Route 36 in Riverton, Illinois, immediately outside of Springfield. The 7-acre site is positioned as one of the first and last full-service commercial stops when entering or leaving Springfield for more than 30 miles. The property is located within a commercial district with established national and regional users including TA Express, SIC Recycling, and Dollar General. The location is suitable for vehicle repossession operations, controlled access uses, fleet staging, and secure storage. This property is suited for construction and general contractor firms, industrial storage and yard use, trucking and towing companies, large fleet and logistics operators, equipment rental/service businesses, metal fabrication, landscaping companies, seed/fertilizer suppliers, lumber/building material sales, energy and solar companies, telecom and data infrastructure, IT or data-center support, security companies, food delivery/retail supply distribution, and municipal, city, state, or government storage and operations. The property may be eligible for Commercial TIF incentives.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    S & W Contractors ... Construction Company

    Suggested Use

    Restaurant Law Firm Dental Office Auto Repair Shop Kitchen & Bath Showroom Food Market HVAC Service Grocery & Convenience Store Storage Facility Car Rental Facility

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

    Location Insight

    • Map
    • Local Demand
    City
    Riverton
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.524099
    Latitude
    39.83901

    FAQs

    What type of property is this?
    Specialty property - Strategic location for logistics, fleet operations, and service-based businesses.
    Where is this specialty property located?
    The property is located at 2675 Overpass Road Riverton, IL.
    What is the asking price?
    The asking price for this property is $3,200,000.
    What are key features of this property?
    This property features: Strategic location off I‑72 & Route 36, near Springfield, ideal for logistics and service‑based businesses.; Versatile industrial property suitable for a wide range of users (construction, storage, trucking, equipment rental, etc.).; Located in a proven commercial district with strong traffic, infrastructure, and established national/regional users.
    (217) 691-0999
    We can help!
    Listing Contact
    Melissa Grady
    Real Estate License ID: 475114067
    Learn More
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    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
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