Flex Industrial
For Sale
$199,000
402 Dawson Street, Springfield, IL 62702
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 Market161
Property Features for 402 Dawson Street
General Information
Standard status
Active
Size
1,662 SF
Property subtype
Commercial
Amenities
kitchenette
restrooms
Building Details
Construction
steel shell
Listing Agency:
The Real Estate Group, Inc.
(217) 816-9405
Listed By:
Joshua Kruse · License #475144896
(217) 816-9405
Source:
Shawneehillsrealestate
Added: Feb 19
Changed: Jul 22
Last Checked: Jul 29 at 1:21PM
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
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 authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
537
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 62702, IL
33,712
Population
17,083
Households
2
Avg Household Size
41
Median Age
20%
College-Educated
90%
High-School Grad
15.4 sq mi
ZIP Area
2,189
Density / Sq Mi
$52,748
Median Household Income
$38,160
Median Earnings
$858
Median Rent
$102,300
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
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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
Frequently Asked Questions
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
