Versatile Commercial Building Near Veterans
3034 LINDBERGH Boulevard, Springfield, IL 62704
Single-store building suitable for retail, office, restaurant, or light industrial.
Type:Office, Retail, Industrial
Property size:
6,664 SFPrice / SF:
$178/SF- Added:
- Sep 11, 2024
- Days on Market:
- 618
- Last Refresh:
- May 12 at 10:47 pm
Property Features for 3034 LINDBERGH Boulevard
General Information
- Standard status
- Active
- Size
- 6,664 SF
- Property subtype
- Office, Retail, Industrial
Building Details
- Year Built
- 1996
Listing agent Jay Clark
Listing office RMLS Alliance
Listing date Sep 11, 2024
Source Crexi
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 RMLS Alliance
HighLights
- High‑traffic location: Situated just off Veterans Parkway (IL4), boasting an immediate traffic count of 6,900 and Veterans traffic count of 31,800.
- Prime location near major retailers: Adjacent to Walmart, Target, Aldi, Wendy's, Starbucks, Verizon, Taco Bell, McDonalds, and Portillos.
- Versatile single‑story building: Suitable for retail, office, restaurant, or light industrial use.
- Like‑new condition: The building is described as being in like‑new condition.
- Additional storage building: Includes a newer 1,440sf building currently used for equipment storage.
- Built in 1996
Overview
This single-store building presents an excellent opportunity for various uses, including retail, office space, a restaurant, or even light industrial applications. The property is in like-new condition. An additional, newer 1,440-square-foot building is located on the premises, currently used for equipment storage. Situated just off Veterans Parkway (IL4), the location offers proximity to Walmart, Target, Aldi, Wendy's, Starbucks, Verizon, Taco Bell, McDonalds, and Portillos. The immediate traffic count is 6,900, while Veterans Parkway experiences a traffic count of 31,800.
Financial Insights
Value Estimation Calculated for Specialty Retail
Conservative
$1.03M
NOI $92,528 @ 9.00% cap · cautious / downside scenario
Moderate
$1.32M
NOI $92,528 @ 7.00% cap · market / base-case scenario
Aggressive
$1.85M
NOI $92,528 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
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.
Calculated for Specialty Retail
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $131.9k | $19.80 |
| − Vacancy | −$8.6k | −$1.29 |
| EGI | $123.4k | $18.51 |
| − OpEx | −$30.8k | −$4.63 |
| NOI | $92.5k | $13.88 |
6,664 SF · lease $19.80/SF/yr · vacancy 6.50% · expense 25.00%
Alternative Use Scenarios
Best Use
Specialty Retail
$1.32M
$1.16M – $1.54M
NOI $92,528 @ 7.0% cap · market cap 7.77%
Second Best
Office B
$1.25M
$1.10M – $1.46M
NOI $87,805 @ 7.0% cap · market cap 7.37%
Theoretical Best
Office A
$1.64M
$1.43M – $1.91M
NOI $114,530 @ 7.0% cap · market cap 9.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Storefront properties
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Sangamon
- State
- Illinois
- Longitude
- -89.711385
- Latitude
- 39.753006
Nearby Similar for Sale
FAQs
What type of property is this?
Storefront property - Single-store building suitable for retail, office, restaurant, or light industrial.
Where is this storefront property located?
The property is located at 3034 LINDBERGH Boulevard Springfield, IL.
What is the asking price?
The asking price for this property is $1,191,000.
What are key features of this property?
This property features: High‑traffic location: Situated just off Veterans Parkway (IL4), boasting an immediate traffic count of 6,900 and Veterans traffic count of 31,800.; Prime location near major retailers: Adjacent to Walmart, Target, Aldi, Wendy's, Starbucks, Verizon, Taco Bell, McDonalds, and Portillos.; Versatile single‑story building: Suitable for retail, office, restaurant, or light industrial use.
