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    2531 Farmers Market Rd Springfield, IL 62707

    Sponsored
    For Sale
    $227,200

    3.55-acre commercial/industrial lot

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    395
    This 3.55-acre lot, located at 2531 Farmers Market Rd, Springfield, IL 62707 (APN 15180301002), is zoned L-1 and presents a prime development opportunity. Situated on the frontage road of Farmers Market Road and Atlanta Street, this property enjoys high visibility from I-55, with approximately 27,300 vehicles passing daily just north of the Sangamon Ave exit. The strategic location offers excellent access to major thoroughfares and is proximate to Northfield Plaza and S. Dirksen Pkwy, areas boasting significant retail, medical, and restaurant establishments (approximately 26,300 vehicles per day). This parcel is part of a larger 20.65-acre tract that can be sold in its entirety or as individual lots. Detailed lot breakdown and pricing information are available upon request. The property's commercial and industrial zoning allows for a wide range of development possibilities, making it an attractive investment for businesses seeking a high-traffic location in Springfield, Illinois. This exceptional location and zoning make this a rare opportunity for development in a thriving area.

    Property Features for 2531 Farmers Market Rd

    General Information

    Property type
    Land
    Lot Size
    154,638 SF

    HighLights

    • $227,200 asking price for a 3.55‑acre land parcel.
    • Located at 2531 Farmers Market Rd, Springfield, IL 62707 (APN: 15180301002).
    • Zoned I‑1, suitable for commercial and industrial uses.
    • High visibility location on Farmers Market Road, with frontage on Atlanta Street, offering excellent access to I‑55.
    • Promising development opportunity near major retail, medical, and restaurant establishments.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.594236084759
    Latitude
    39.837452725287

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    FAQs

    What type of property is this?
    Land - 3.55-acre commercial/industrial lot
    Where is this land located?
    The property is located at 2531 Farmers Market Rd Springfield, IL.
    What is the asking price?
    The asking price for this property is $227,200.
    What are key features of this property?
    This property features: $227,200 asking price for a 3.55-acre land parcel.; Located at 2531 Farmers Market Rd, Springfield, IL 62707 (APN: 15180301002).; Zoned I-1, suitable for commercial and industrial uses.
    Request Owner's contact information
    2531 Farmers Market Rd Springfield, IL 62707
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    Springfield, IL 62707
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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
    2531 Farmers Market Rd Springfield, IL 62707
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