Retail Space with Central
For Sale
$2,400,000
4234 WABASH Avenue, Springfield, IL 62711
Commercial Sale, Springfield, IL
Property Size9,900 SF
Lot Size0.00 Acres
Price / SF$242.42
Days on Market519
Property Features for 4234 WABASH Avenue
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
I-1
Directions
West Wabash - Near Meadowbrook
Standard status
Active
APN
21140200045
Lot size
0.00 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
30174
Utilities
Sewer type
Public Sewer
Heating system
Forced Air, Natural Gas
Cooling system
Central Air
Building Details
Floors in Building
1
Flooring type
Concrete
Building materials
Brick, Wood Siding, Block
Roof type
Composition
Listing Agency:
RE/MAX Professionals · RE/MAX International
(217) 787-7215
Listed By:
Melissa Vorreyer · License #475100751
(217) 652-0875
Added: May 5, 2025
Changed: Sep 6
Last Checked: Oct 5 at 1:06PM
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.
Investment Insights
Based on property information with market context.
The offering includes a 9,900 sq ft commercial building classified as retail space and situated on W. Wabash Avenue. Construction materials include brick, wood siding, and block, while the interior has concrete flooring. Building systems include central air conditioning and forced-air heating powered by natural gas. Public sewer service is in place, and the roof is composition.
The property is located in Springfield, Illinois, within the west side area and near other businesses. The site carries I-1 zoning. An additional 20+/- acres contiguous to the property is also identified as available for sale, providing a separate land component for consideration.
The property is located in Springfield, Illinois, within the west side area and near other businesses. The site carries I-1 zoning. An additional 20+/- acres contiguous to the property is also identified as available for sale, providing a separate land component for consideration.
Key Highlights
- 9,900 sq ft commercial building
- I‑1 zoning
- Located on W. Wabash Avenue in Springfield, IL
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.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
521
Businesses Nearby
Explore this area
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Retail space - Commercial building with concrete flooring, forced-air natural gas heat, and public sewer service.
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: 9,900 sq ft commercial building; I‑1 zoning; Located on W. Wabash Avenue in Springfield, IL
