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Three-Story Office Building
For Lease
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509 W Capitol Avenue, Springfield, IL 62704

Three-story office building with ADA restrooms, two elevators, and onsite surface and underground parking.

Space SizeContact for details
Property Size43,000 SF
Days on Market140

Property Features for 509 W Capitol Avenue

General Information

Standard status Active
Size 43,000 SF
Zoning R-5c
Lease Type Net

Taxes and HOA fees

Annual Taxes $67,581

Building Details

Building Size 43,000 SF
Year Built 1987
Buildings 1
Stories 3
Listing Agency: Todd P Smith Real Estate
Listed By: Todd Smith · License #471004523
Source: Shawneehillsrealestate
Added: Apr 23 Changed: Sep 8 Last Checked: Sep 8 at 7:09AM

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 Todd P Smith Real Estate

Investment Insights

Based on property information with market context.

This three-story office building offers approximately 43,000 square feet of office space, along with surface and lower-level parking. The interior includes new carpet, freshly painted drywall, and acoustical tile ceilings. The building is served by two elevators providing access to all floors, including the lower level, and it includes ADA restrooms.

The property is a solid brick structure with two common lobbies, each featuring two points of access. ADA accessibility is supported throughout, and the building also has newly installed fiber data cabling and a security system. Onsite parking includes both surface and underground options.

Currently occupied, the space has a lease ending soon. The building is also available for sale under a separate listing.

Key Highlights

  • Three‑story office building built in 1989 with +/-43,000 SF of office space
  • ADA restrooms and ADA accessibility throughout the building and site
  • Two elevators providing access to all floors, including the lower level

Property Analytics

Current Use

US Labor Department-Wage ... State Government Office

Suggested Use

Top Pick HVAC Service (Bike/Boat/Book/etc) Store Storage Facility Kitchen & Bath Showroom Auto Parts Store Bakery

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

NNN (Triple Net)
Lease Type

Location Intelligence

Trade Area within ½ mile

1,646
Businesses Nearby

Demographics for 62704, IL

39,157
Population
20,706
Households
1.9
Avg Household Size
40
Median Age
42%
College-Educated
95%
High-School Grad
12.2 sq mi
ZIP Area
3,210
Density / Sq Mi
$66,352
Median Household Income
$44,793
Median Earnings
$924
Median Rent
$166,900
Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019
15.6% 2020
17.1% 2021
18.9% 2022
21% 2023
22% 2024
21.3% 2025
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Frequently Asked Questions

What type of property is this?
Office building - Three-story office building with ADA restrooms, two elevators, and onsite surface and underground parking.
Where is this office building located?
The property is located at 509 W Capitol Avenue Springfield, IL.
What are key features of this property?
This property features: Three‑story office building built in 1989 with +/-43,000 SF of office space; ADA restrooms and ADA accessibility throughout the building and site; Two elevators providing access to all floors, including the lower level
More about this property
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