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    2301 Monroe St Springfield, IL 62704

    Sponsored
    For Lease
    Contact for pricing

    Prime Springfield location, 1,329 sq ft.

    Lot size:
    1,329 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional commercial property, located at 2301 W Monroe Street in Springfield, Illinois, presents a unique investment opportunity. The property is zoned B-1 and features a single-tenant occupancy on a 1,329 square foot lot. The parcel's address is clearly identified as 2301 W Monroe Street, Springfield, IL 62704, with GPS coordinates of 39.7965983 latitude and -89.6937028 longitude. The property type is classified as both Land and Retail, making it suitable for a variety of commercial uses. The Assessor's Parcel Number (APN) is 14-31.0-277-030. This single-suite building offers a straightforward investment opportunity with potential for immediate income generation or redevelopment. Its location in Springfield, Illinois provides access to a robust local market and established infrastructure. The B-1 zoning designation offers flexibility for a range of commercial ventures. Serious inquiries are encouraged to explore the possibilities of this well-situated commercial land parcel. Further details regarding the property's history and potential uses are available upon request. This is a rare opportunity to acquire a strategically located commercial property in a thriving Illinois market.

    Property Features for 2301 Monroe St

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    1,329 SF

    Unit(s) available at that property

    Space
    Size
    1,329 SF

    HighLights

    • Exceptional investment opportunity: 1,329 sq ft lot, single‑tenant building at 2301 W Monroe St, Springfield, IL.
    • B‑1 zoning allows for flexible commercial uses.
    • APN: 14‑31.0‑277‑030.
    • Land & Retail property type offers immediate income potential or redevelopment.
    • Strategically located in Springfield, IL, with strong local market access.
    Property Profile Location Intelligence

    Current Use by Public Records

    Krispy Kreme Donut Shop Nancy's Chicago Pizza Pizza Restaurant Nancy's Pizza Pizza Restaurant Supercuts Barber Shop

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.6937028
    Latitude
    39.7965983

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    FAQs

    What type of property is this?
    Retail property - Prime Springfield location, 1,329 sq ft.
    Where is this retail property located?
    The property is located at 2301 Monroe St Springfield, IL.
    What are key features of this property?
    This property features: Exceptional investment opportunity: 1,329 sq ft lot, single-tenant building at 2301 W Monroe St, Springfield, IL.; B-1 zoning allows for flexible commercial uses.; APN: 14-31.0-277-030.
    Request Owner's contact information
    2301 Monroe St 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
    2301 Monroe St Springfield, IL 62704
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