Mixed-Use Property with Insulated
3107 S PARK Avenue, Springfield, IL 62704
For Sale
$375,000
Commercial Sale, Springfield, IL
Property Size960 SF
Price / SF$390.63
Days on Market95
Property Features for 3107 S PARK Avenue
General Information
Property type
Property subtype
Zoning
Directions
Standard status
APN
Additional Details
Property Use
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Sewer type
Heating system
Cooling system
Amenities
reception area
kitchenette
full bath
two private offices
in floor boiler radiant heat
shower
remote electric gate
Building Details
Floors in Building
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
The Real Estate Group, Inc.
(217) 787-7000
Listed By:
Randy Aldrich · License #475105744
(217) 725-2505
Added: Aug 4
Changed: Oct 30
Last Checked: Nov 6 at 8:06PM
MLS# CA1045605
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.
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Investment Insights
Based on property information with market context.
The property includes a standalone office measuring 24' x 40', with a reception area, kitchenette, full bathroom, and two private offices. A separate 40' x 60' warehouse is finished and insulated, with radiant floor heat from an in-floor boiler, two insulated 10' overhead doors, and a bathroom with shower. The site has tall fencing topped with barbed wire and entry through a remotely operated electric gate.
Zoning is R-1. A previous owner obtained a commercial-use variance for an automotive body repair shop; a future owner would need to obtain a variance for its specific intended use. The current owner does not require a variance for its purposes.
Zoning is R-1. A previous owner obtained a commercial-use variance for an automotive body repair shop; a future owner would need to obtain a variance for its specific intended use. The current owner does not require a variance for its purposes.
Key Highlights
- Separate office building measures 24' x 40' and includes two private offices, reception area, kitchenette, and full bath
- Finished, insulated warehouse measures 40' x 60' and has in‑floor boiler radiant heat
- Two insulated 10' overhead doors, one at the front and one at the back
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$12,649
Cap Rate
3.37%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$252,980
$253.0K
Cap Rate 7%
$180,700
$180.7K
Cap Rate 9%
$140,544
$140.5K
Market Conditions
NOI Build-Up for 960 SF
Gross rent
$21.1K $21.96/SF
− Vacancy
−$4.2K −$4.39/SF
EGI
$16.9K $17.57/SF
− OpEx
−$4.2K −$4.39/SF
NOI
$12.6K $13.18/SF
Area
Springfield, IL
Vacancy
20.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$252,980
Cap Rate 7%
$180,700
Cap Rate 9%
$140,544
Alternative Uses
Best Use
Office B
$180.7K
$158.1K – $210.8K
NOI $12,649 @ 7.0% cap · market cap 3.37%
Second Best
Mixed Use
$148.1K
$129.6K – $172.8K
NOI $10,368 @ 7.0% cap · market cap 2.76%
Theoretical Best
Office A
$235.7K
$206.2K – $275.0K
NOI $16,499 @ 7.0% cap · market cap 4.40%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
2
Drive-in doors
1
Office units
Yes
Fenced yard
Location Intelligence
Trade Area within ½ mile
603
Businesses Nearby
Explore this area
Business Placement
Demographics for 62704, IL
39,157
Population
20,706
Households
1.9
Avg Household Size
40
Median Age
42%
College-Educated
95%
High-School Grad
12.2 sq mi
ZIP Area
3,210
Density / Sq Mi
$66,352
Median Household Income
$44,793
Median Earnings
$924
Median Rent
$166,900
Median Home Value
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Market
Properties on Market for Mixed-use properties in Sangamon County
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Separate office and warehouse buildings offer distinct work and storage areas on a fenced parcel.
Where is this mixed-use property located?
The property is located at 3107 S PARK Avenue Springfield, IL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: Separate office building measures 24' x 40' and includes two private offices, reception area, kitchenette, and full bath; Finished, insulated warehouse measures 40' x 60' and has in‑floor boiler radiant heat; Two insulated 10' overhead doors, one at the front and one at the back
