Retail Building with Contiguous
4234 Wabash Avenue Springfield, IL 62711
4234 Wabash Avenue, Springfield, IL, 62711
$2,400,000
For Sale
$2,400,000
For sale along W. Wabash, featuring a 9,900 sq ft retail building with additional contiguous acreage available.
Property Size9,900 SF
Price / SF$242.42
Days on Market443
Property Features for 4234 Wabash Avenue
General Information
- Standard status
- Active
- Size
- 9,900 SF
- Property subtype
- Commercial
Listing agency
RE/MAX Professionals
(217) 652-0875
Listed by
Melissa Vorreyer · License #475100751
(217) 652-0875
Source
Shawneehillsrealestate
Added: May 5, 2025 Updated: Jul 21 at 8:10AM Checked: Jul 21 at 8:10AM
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 RE/MAX Professionals
Investment Insights
Based on property information with market context.
This offering includes a 9,900 sq ft building on the west side of Springfield, Illinois, located on W. Wabash. An additional 20+/- acres contiguous to the property are also available for sale, providing flexibility for expansion or future development planning.
The site is positioned to serve surrounding commercial activity with visibility and accessibility along W. Wabash. The property benefits from its proximity to other thriving businesses and is described as having strong foot and vehicle traffic in the area.
For buyers considering retail, office, or other commercial uses, the combination of an existing building and contiguous acreage creates a foundation for a range of development and operating strategies. The west side of Springfield is noted as continuing to grow, supporting interest in property located along this established corridor.
The site is positioned to serve surrounding commercial activity with visibility and accessibility along W. Wabash. The property benefits from its proximity to other thriving businesses and is described as having strong foot and vehicle traffic in the area.
For buyers considering retail, office, or other commercial uses, the combination of an existing building and contiguous acreage creates a foundation for a range of development and operating strategies. The west side of Springfield is noted as continuing to grow, supporting interest in property located along this established corridor.
Key Highlights
- For sale along W. Wabash with a 9,900 sq ft retail building
- Additional 20+/- acres contiguous land also available for sale
- Located on the west side of Springfield, IL, with access to nearby businesses
Local Financial Insights For Retail
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 | $178.2k | $18.00 |
| − Vacancy | −$14.3k | −$1.44 |
| EGI | $163.9k | $16.56 |
| − OpEx | −$49.2k | −$4.97 |
| NOI | $114.8k | $11.59 |
9,900 SF · lease $18.00/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.64M
$1.43M – $1.91M
NOI $114,761 @ 7.0% cap · market cap 4.78%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.43M
$2.13M – $2.84M
NOI $170,145 @ 7.0% cap · market cap 7.09%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Pleasant Nursery Inc
Garden Center
Similar For Sale Nearby
FAQs
What type of property is this?
Commercial land - For sale along W. Wabash, featuring a 9,900 sq ft retail building with additional contiguous acreage available.
Where is this commercial land located?
The property is located at 4234 Wabash Avenue Springfield, IL.
What is the asking price?
The asking price for this property is $2,400,000.
What are key features of this property?
This property features: For sale along W. Wabash with a 9,900 sq ft retail building; Additional 20+/- acres contiguous land also available for sale; Located on the west side of Springfield, IL, with access to nearby businesses
