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    526 Grand Ave Springfield, IL 62704

    Sponsored
    For Sale
    $195,000

    Prime location, 5 offices, great visibility

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional Springfield, IL commercial property, located at 526 W South Grand Avenue, presents a unique investment opportunity. Priced at $195,000, this versatile building offers 2,025 square feet of finished basement space, complete with a full bathroom, adding significant potential for expansion or additional rental income. The main level boasts 5 individual offices, perfect for a medical practice or other professional services. A well-appointed reception area, a convenient break room, and a dedicated conference room provide ample space for client interaction and staff collaboration. Two full bathrooms on the main level ensure convenience and comfort. The property also includes a heated, one-car attached garage, a valuable asset in any climate, and six dedicated parking spots, addressing the crucial need for convenient parking for both staff and clients. The building enjoys excellent visibility from South Grand Avenue, a high-traffic area, maximizing exposure and attracting potential clients. The property's zoning allows for conversion into a duplex, offering further flexibility and potential for increased return on investment. This property is a rare find, combining prime location, versatile space, and significant potential for growth. The combination of office space, ample parking, and basement area makes this an ideal investment for a variety of uses. Don't miss this chance to own a thriving commercial property in a desirable Springfield location. The zip code is 62704.

    Property Features for 526 Grand Ave

    General Information

    Property type
    Medical offices

    HighLights

    • $195,000 Springfield, IL commercial property at 526 W South Grand Avenue.
    • 2,025 sq ft finished basement with full bath.
    • Main level features 5 offices, reception area, break room, conference room, and 2 full baths.
    • Heated one‑car attached garage and 6 parking spaces.
    • High visibility on South Grand Avenue, zoned for potential duplex conversion.
    Property Profile Location Intelligence

    Current Use by Public Records

    Relaxing Spa Massage Spa 88 Relaxing Massage Massage Spa

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.6687459
    Latitude
    39.7869843

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    FAQs

    What type of property is this?
    Medical office - Prime location, 5 offices, great visibility
    Where is this medical office located?
    The property is located at 526 Grand Ave Springfield, IL.
    What is the asking price?
    The asking price for this property is $195,000.
    What are key features of this property?
    This property features: $195,000 Springfield, IL commercial property at 526 W South Grand Avenue.; 2,025 sq ft finished basement with full bath.; Main level features 5 offices, reception area, break room, conference room, and 2 full baths.
    Request Owner's contact information
    526 Grand Ave Springfield, IL 62704
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    Springfield, IL 62704
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    526 Grand Ave Springfield, IL 62704
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