Retail Space with Mixed-Material
4234 WABASH Avenue, Springfield, IL 62711
For Sale
$2,400,000
Commercial Sale, Springfield, IL
Property Size9,900 SF
Lot Size0.00 Acres
Price / SF$242.42
Days on Market555
Property Features for 4234 WABASH Avenue
General Information
Property type
Property subtype
Zoning
Directions
Standard status
APN
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Sewer type
Heating system
Cooling system
Building Details
Floors in Building
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
RE/MAX Professionals · RE/MAX International
(217) 787-7215
Listed By:
Melissa Vorreyer · License IL #475100751
(217) 652-0875
Added: May 5, 2025
Changed: Oct 31
Last Checked: Nov 10 at 5:06PM
MLS# CA1036177
Copyright © 2026 RMLS Alliance. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Located at 4234 Wabash Avenue in Springfield, this retail property has a brick, wood-siding, and block exterior with concrete flooring. Building systems include forced-air, natural-gas heat and central air conditioning, and the site is served by public sewer.
I-1 zoning applies to the property. An additional contiguous 20+/- acres is also available for sale.
I-1 zoning applies to the property. An additional contiguous 20+/- acres is also available for sale.
Key Highlights
- I‑1 zoning
- Brick, wood‑siding, and block construction materials
- Concrete flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$130,442
Cap Rate
5.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,608,840
$2.6M
Cap Rate 7%
$1,863,457
$1.9M
Cap Rate 9%
$1,449,356
$1.4M
Market Conditions
NOI Build-Up for 9,900 SF
Gross rent
$217.4K $21.96/SF
− Vacancy
−$43.5K −$4.39/SF
EGI
$173.9K $17.57/SF
− OpEx
−$43.5K −$4.39/SF
NOI
$130.4K $13.18/SF
Area
Springfield, IL
Vacancy
20.00%
Lease Rate
$21.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,608,840
Cap Rate 7%
$1,863,457
Cap Rate 9%
$1,449,356
Alternative Uses
Best Use
Office B
$1.86M
$1.63M – $2.17M
NOI $130,442 @ 7.0% cap · market cap 5.44%
Second Best
Retail
$1.64M
$1.43M – $1.91M
NOI $114,761 @ 7.0% cap · market cap 4.78%
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 authorities.
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Current Use
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
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Business Placement
Demographics for 62711, IL
18,115
Population
7,885
Households
2.3
Avg Household Size
49
Median Age
57%
College-Educated
98%
High-School Grad
30.9 sq mi
ZIP Area
586
Density / Sq Mi
$123,507
Median Household Income
$65,758
Median Earnings
$1,272
Median Rent
$299,400
Median Home Value
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Market
Properties on Market for Retail space in Springfield
Vacancy Rate% for Office in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - I-1 zoning, central air, and public sewer service are among the property’s documented features.
Where is this retail space 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: I‑1 zoning; Brick, wood‑siding, and block construction materials; Concrete flooring
