Two-Story Brewery and
406 East Adams Street Springfield, IL 62701
406 East Adams Street, Springfield, IL, 62701
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For Sale
Contact for pricing
Two-story masonry building with full unfinished basement, built-out bars, production space, and updated plumbing and electrical systems.
Property Size3,740 SF
Price / SF$69.52
Days on Market83
Property Features for 406 East Adams Street
General Information
- Standard status
- Active
- Size
- 3,740 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1900
Listing agency
Coldwell Banker Commercial Devonshire Realty
(217) 547-6650
Listed by
Blake Pryor · License #475159138
Source
Crexi
Added: Apr 30 Updated: Jul 20 at 7:28PM Checked: Jul 21 at 4:59AM
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
Investment Insights
Based on property information with market context.
This former craft brewery and taproom property consists of a two-story masonry building with a full unfinished basement. The space has been extensively renovated between 2017 and 2024 and is currently configured with substantial hospitality and production infrastructure. The first floor includes a built-out bar and seating area, a production room, and two ADA-compliant restrooms. It also features a 3-compartment sink, handwashing sink, and a walk-in cooler with tap lines, including updated glycol and CO2 systems. The second floor provides additional seating areas, a secondary bar with a 3-compartment sink and handwashing sink, two restrooms, and a small kitchen with a range hood, 3-compartment sink, handwashing sink, and an above-grade grease interceptor.
Improvements include an EPDM rubber roof and exterior stucco improvements in 2024, plus a glass garage door entrance. Interior and systems work includes extensive electrical upgrades (including a new exterior panel and 240 V service and lighting throughout), CAT5 cabling, custom shelving, and structural reinforcements supporting prior brewery operations in 2017. Plumbing updates were completed in the basement up to the City connection between 2018 and 2021. Furniture and equipment are not included, but may be available for purchase.
The property is situated along Adams Street in downtown Springfield and is positioned along the Old Capitol Farmers Market route, which has drawn consistent seasonal and weekend traffic since 1999.
Improvements include an EPDM rubber roof and exterior stucco improvements in 2024, plus a glass garage door entrance. Interior and systems work includes extensive electrical upgrades (including a new exterior panel and 240 V service and lighting throughout), CAT5 cabling, custom shelving, and structural reinforcements supporting prior brewery operations in 2017. Plumbing updates were completed in the basement up to the City connection between 2018 and 2021. Furniture and equipment are not included, but may be available for purchase.
The property is situated along Adams Street in downtown Springfield and is positioned along the Old Capitol Farmers Market route, which has drawn consistent seasonal and weekend traffic since 1999.
Key Highlights
- Two‑story masonry former craft brewery and taproom with a full unfinished basement (built in 1900).
- First floor offers 1,820 SF with a built‑out bar and seating, production room, and two ADA‑compliant restrooms.
- Second floor offers 1,920 SF with additional seating, a secondary bar, two restrooms, and a small kitchen with grease interceptor.
Local Financial Insights For Industrial
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 | $33.7k | $9.00 |
| − Vacancy | −$1.7k | −$0.45 |
| EGI | $32.0k | $8.55 |
| − OpEx | −$9.6k | −$2.56 |
| NOI | $22.4k | $5.98 |
3,740 SF · lease $9.00/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$741.8K
$649.1K – $865.5K
NOI $51,929 @ 7.0% cap · market cap 19.97%
Second Best
Industrial
$319.8K
$279.8K – $373.1K
NOI $22,384 @ 7.0% cap · market cap 8.61%
Theoretical Best
Office A
$918.2K
$803.5K – $1.07M
NOI $64,277 @ 7.0% cap · market cap 24.72%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Old Capitol Farmers ...
Specialty Food Shop
Seoul 4 Soul
Restaurant
US Bank Mortgage
Loan Service
Buzz Bomb Brewing ...
Production Facility
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FAQs
What type of property is this?
Brewery - Two-story masonry building with full unfinished basement, built-out bars, production space, and updated plumbing and electrical systems.
Where is this brewery located?
The property is located at 406 East Adams Street Springfield, IL.
What is the asking price?
The asking price for this property is $260,000.
What are key features of this property?
This property features: Two‑story masonry former craft brewery and taproom with a full unfinished basement (built in 1900).; First floor offers 1,820 SF with a built‑out bar and seating, production room, and two ADA‑compliant restrooms.; Second floor offers 1,920 SF with additional seating, a secondary bar, two restrooms, and a small kitchen with grease interceptor.
