Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Springfield Commercial Space For Lease Title is generated by Realmo AI

    3001 W WHITE OAKS Drive, Springfield, IL 62704

    View on Map
    Claim this Listing
    For Lease
    Contact for pricing

    COMMERCIAL - Springfield, IL

    Added:
    Feb 5, 2025
    Days on Market:
    470
    Last Refresh:
    May 21 at 9:06 pm

    Property Features for 3001 W WHITE OAKS Drive

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    Commercial
    Standard status
    Active
    APN
    21120207012

    Taxes and HOA fees

    Tax Year
    2023
    Tax Annual Amount
    16106

    Utilities

    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Central Air

    Building Details

    Building materials
    Block, EFIS, Frame
    Roof type
    Metal

    We can help!

    Listing Contact
    Bill Marriott
    Bill Marriott

    Listing agent Bill Marriott License #475116051

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

    Listing date Feb 5, 2025

    MLS# CA1034271

    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

    • Excellent location on Springfield's west side with high daily traffic count
    • Suitable for office or retail use
    • Includes 1300 sq ft warehouse space with a 12‑foot overhead door for easy access
    • Warehouse space could be doubled
    • Close proximity to national retail stores and restaurant chains

    Overview

    This commercial space for lease is located on the west side of Springfield, Illinois. It offers multiple possibilities for office or retail use, including 1300 square feet of warehouse space. The space features a 12-foot overhead door. The warehouse space has the potential to be doubled. The property is situated in close proximity to national retail stores and restaurant chains, benefiting from a high daily traffic count.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Little Lincoln's Toy ... (Bike/Boat/Book/etc) Store i3 Broadband Telecommunications Service Midwest Floor Pros General Contractor Jane Hay Sales ... Real Estate Agency The Gold Center, Inc. Big Box & Wholesale Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Hotel & Motel

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.710729
    Latitude
    39.764873

    Nearby Similar for Lease

    • Contact for pricing
      3,715 SF

      Updated Office Space on Business Route

      Move-in-ready office space on Springfield's most visible corridor.
      1625 S 6TH Street, Springfield, IL 62703
      View Details
    • Contact for pricing
      1,000 SF

      Springfield Commercial Space For Lease

      Professional office space in high-traffic location, suitable for various businesses.
      2945 E SANGAMON Avenue, Springfield, IL 62702
      View Details
    • Contact for pricing

      First Class Springfield Office Building

      Office building in a park-like setting with updated landscaping.
      3201 W WHITE OAKS Drive, Springfield, IL 62704
      View Details
    • Contact for pricing
      1,500 SF

      Springfield Commercial Warehouse and Kitchen

      Warehouse and commercial kitchen space available for lease or sale.
      4753 Jeffory Street, Springfield, IL 62703
      View Details
    • Contact for pricing
      850 SF

      Office Space with Golf Course Views

      Office space for lease with golf course views in Springfield.
      6900 Preston Drive, Springfield, IL 62711
      View Details
    • Contact for pricing

      Springfield Office Space For Lease

      Professional office space for lease near White Oaks Mall.
      2205 W WABASH Avenue, Springfield, IL 62704
      View Details
    • Contact for pricing

      Springfield Office Space For Lease

      Professional office space for lease near White Oaks Mall.
      2205 W WABASH Avenue, Springfield, IL 62704
      View Details
    • Contact for pricing

      Professional Office Space For Lease

      Professional office space for lease with elevator access and great exposure.
      2205 W WABASH Avenue, Springfield, IL 62704
      View Details
    • Contact for pricing

      Springfield Retail Space For Rent

      2,800 SF retail space in a rapidly growing area.
      3252 Ginger Creek Drive, Springfield, IL 62711
      View Details
    • Contact for pricing

      Springfield Office Space For Lease

      Professional office space for lease near White Oaks Mall.
      2205 W WABASH Avenue, Springfield, IL 62704
      View Details
    • Contact for pricing
      3,000 SF

      Updated Office Building in Springfield

      Updated 3,000 sq ft office building in prime location.
      1124 Centre W Drive, Springfield, IL 62704
      View Details
    • Contact for pricing

      Equipped Salon Space in Springfield

      Refined salon space with six stations near downtown Springfield.
      612 W S Grand Avenue, Springfield, IL 62704
      View Details

    FAQs

    What type of property is this?
    Retail space - Office, retail, or warehouse space available in Springfield, Illinois.
    Where is this retail space located?
    The property is located at 3001 W WHITE OAKS Drive Springfield, IL.
    What are key features of this property?
    This property features: Excellent location on Springfield's west side with high daily traffic count; Suitable for office or retail use; Includes 1300 sq ft warehouse space with a 12‑foot overhead door for easy access
    (217) 741-0198
    We can help!
    Listing Contact
    Bill Marriott
    Bill Marriott
    Real Estate License ID: 475116051
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    3001 W WHITE OAKS Drive, Springfield, IL 62704
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!