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    Retail Showroom with Private Offices Title is generated by Realmo AI

    3120 Montvale Drive, Springfield, IL 62704

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    Flexible showroom space with offices, restrooms, and dual double-door access for retail, showroom, or wellness tenants.

    Type:Retail
    Added:
    Jun 3, 2026
    Days on Market:
    4
    Last Refresh:
    Jun 6 at 5:45 am

    Property Features for 3120 Montvale Drive

    General Information

    Standard status
    Active
    Property subtype
    Retail

    Building Details

    Year Built
    1989

    Spaces For Lease

    at 3120 Montvale Drive Contact us

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    Listing Contact
    Blake Pryor

    Listing agent Blake Pryor License #475159138

    Listing office Coldwell Banker Commercial Devonshire Realty

    Listing date Jun 3, 2026

    Source Crexi

    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

    • 1989‑built retail space in Montvale Plaza featuring a large open showroom area plus private offices and storage
    • Includes break room and two restrooms for tenant and staff use
    • Two double‑door entrances provide convenient receiving access for inventory, equipment, or large displays
    • Space supports retail, showroom, and service uses, including kitchen and bath design, flooring, cabinetry and countertops, furnishings, and interior design
    • Well suited for medical and wellness‑related tenants such as physical therapy, rehabilitation, medical spas, and specialty healthcare (buildout needed)
    • Located near the Wabash Avenue and Montvale Plaza signalized intersection with traffic counts exceeding 21,300 vehicles per day and abundant on‑site parking

    Overview

    This available tenant space is laid out with an open, flexible showroom area and dedicated back-of-house support. The plan includes private offices, a break room, two restrooms, and ample storage, with two double-door entrances that can support convenient receiving and delivery of inventory, equipment, or large displays.

    The space is located within Montvale Plaza, a West-side Springfield retail destination with strong visibility and easy access near the signalized intersection of Wabash Avenue. Traffic counts exceed 21,300 vehicles per day, and customers and employees have abundant on-site parking located directly in front of the space and throughout the shopping center. Established co-tenants include Just Beds, Jones Jewelers, Monty’s Submarine Sandwiches, Flavor of India, and Kumon Math & Reading Center.

    The layout is a practical fit for showroom-oriented businesses such as kitchen and bath design, flooring, cabinetry and countertops, home furnishings, and interior design. It also provides a foundation for medical and wellness-related uses including physical therapy and rehabilitation practices, medical spas, and specialty healthcare providers, with the note that buildout may be required to accommodate specific requirements.
    Location Intelligence

    Current Use by Public Records

    Body Quest Store ... Gym & Fitness Center Just Beds Inc. Furniture & Home Goods

    Suggested Use

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

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

    Similar Places Nearby

    • Schnucks Montvale Floral — 2801 Chatham Rd, Springfield, IL 62704
    • Sam's Club Floral — 2300 W White Oaks Dr, Springfield, IL 62704

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.694025
    Latitude
    39.76416

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    FAQs

    What type of property is this?
    Storefront property - Flexible showroom space with offices, restrooms, and dual double-door access for retail, showroom, or wellness tenants.
    Where is this storefront property located?
    The property is located at 3120 Montvale Drive Springfield, IL.
    What are key features of this property?
    This property features: 1989‑built retail space in Montvale Plaza featuring a large open showroom area plus private offices and storage; Includes break room and two restrooms for tenant and staff use; Two double‑door entrances provide convenient receiving access for inventory, equipment, or large displays
    (217) 547-6650 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Blake Pryor
    Real Estate License ID: 475159138
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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.

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