Flex Industrial
402 Dawson Street Springfield, IL 62702
402 Dawson Street, Springfield, IL, 62702
$199,000
For Sale
$199,000
Steel-shell flex building with two separate rooms, kitchen, and on-site parking on both sides of the property.
Property Size1,662 SF
Price / SF$119.74
Days on Market153
Property Features for 402 Dawson Street
General Information
- Standard status
- Active
- Size
- 1,662 SF
- Property subtype
- Commercial
Listing agency
The Real Estate Group, Inc.
(217) 816-9405
Listed by
Joshua Kruse · License #475144896
(217) 816-9405
Source
Shawneehillsrealestate
Added: Feb 19 Updated: Jul 22 at 7:13AM Checked: Jul 22 at 7:13AM
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 The Real Estate Group, Inc.
Investment Insights
Based on property information with market context.
This near 1,700-square-foot commercial flex building features a full steel shell on all four exterior walls and the roof. The interior includes a kitchenette with a full-sized refrigerator, sink, and dishwasher, along with male and female restrooms. A single dividing partition wall creates two separate useful spaces, and the wall could potentially be removed without compromising the structure.
The property is situated at the end of a minimally traveled cul-de-sac street, just off West Jefferson. Parking is provided on both the north and south ends of the parcel, supporting day-to-day access for occupants and visitors.
With its steel exterior and flexible interior configuration, the building is set up to accommodate multiple layouts within one facility while maintaining established restroom and kitchen amenities.
The property is situated at the end of a minimally traveled cul-de-sac street, just off West Jefferson. Parking is provided on both the north and south ends of the parcel, supporting day-to-day access for occupants and visitors.
With its steel exterior and flexible interior configuration, the building is set up to accommodate multiple layouts within one facility while maintaining established restroom and kitchen amenities.
Key Highlights
- Near 1,700 SF commercial flex building with a full steel shell for the exterior walls and roof
- Two separate usable spaces with one dividing partition wall; wall could be removed without compromising structure
- Kitchenette includes a full‑sized refrigerator, sink, and dishwasher
Local Financial Insights For Flex RnD
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 | $27.9k | $16.80 |
| − Vacancy | −$2.4k | −$1.43 |
| EGI | $25.5k | $15.37 |
| − OpEx | −$8.9k | −$5.38 |
| NOI | $16.6k | $9.99 |
1,662 SF · lease $16.80/SF/yr · vacancy 8.50% · expense 35.00%
Alternative Uses
Best Use
Office B
$312.8K
$273.7K – $365.0K
NOI $21,899 @ 7.0% cap · market cap 11.00%
Second Best
Flex RnD
$237.2K
$207.6K – $276.8K
NOI $16,606 @ 7.0% cap · market cap 8.34%
Theoretical Best
Office A
$408.1K
$357.1K – $476.1K
NOI $28,564 @ 7.0% cap · market cap 14.35%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Heartland Community MCC
Church
Similar For Sale Nearby
Similar Off Market Nearby
- Smucks Smokin Kitchen❤️ — 1101 N Amos Ave, Springfield, IL 62702
- Robert's Seafood Market — 1615 W Jefferson St, Springfield, IL 62702
FAQs
What type of property is this?
Flex space - Steel-shell flex building with two separate rooms, kitchen, and on-site parking on both sides of the property.
Where is this flex space located?
The property is located at 402 Dawson Street Springfield, IL.
What is the asking price?
The asking price for this property is $199,000.
What are key features of this property?
This property features: Near 1,700 SF commercial flex building with a full steel shell for the exterior walls and roof; Two separate usable spaces with one dividing partition wall; wall could be removed without compromising structure; Kitchenette includes a full‑sized refrigerator, sink, and dishwasher
