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    1650 Wabash Ave Springfield, IL 62704

    Sponsored
    For Lease
    $8 SF/Yr

    49,500 SF Retail Space, Ample Parking

    Lot size:
    49,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    The Yard Shopping Center offers 49,500 square feet of retail space for lease in Springfield, IL. This single-story, Class C building, constructed in 1976, sits on a 4.91-acre lot and features 169 parking spaces. The property is zoned B-1, Highway Business District (APN: 22-08.0-326-017). Multiple suites are available, with a minimum divisible space of 3,750 square feet and a maximum contiguous space of 17,874 square feet. Currently, 8,250 square feet is vacant. Available suites include a 4,500 SF space with an open floor plan and two restrooms; a 9,000 SF space with a large open area, two workrooms, two restrooms, a shower, and ample storage; and a 3,750 SF space with an open floor plan, several back rooms, and two restrooms. The center enjoys a high traffic count of 25,100 AADT, benefiting from its location on Wabash Avenue near White Oaks Mall. Co-tenants include established businesses such as Dollar General, Salon Centric, and others, creating a vibrant retail environment. The area boasts high retail and residential density, with nearby big-box retailers, quick-service restaurants, and other shopping options. Springfield's central Illinois location, accessible via Interstates 55 and 72, and its proximity to major highways and other amenities, makes this a prime location for retail businesses. The property offers an affordable lease rate and ample parking, making it an attractive investment opportunity.

    Property Features for 1650 Wabash Ave

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    49,500 SF
    Class
    C
    Total Rate
    33000

    Building Details

    Year Built
    1976
    Buildings
    1
    Stories
    1

    Unit(s) available at that property

    Space
    Suite F
    Size
    9,000 SF
    Rate per SF
    $8
    Space
    Suite E
    Size
    4,500 SF
    Rate per SF
    $8
    Space
    Suite G
    Size
    3,750 SF
    Rate per SF
    $8

    HighLights

    • Large retail spaces available for lease at The Yard Shopping Center in Springfield, IL.
    • Affordable lease rates available.
    • Ample on‑site parking with 169 spaces.
    • High traffic count of 25,100 AADT.
    • Strong surrounding retail activity including big‑box retailers and QSRs.
    • High retail and residential density in a desirable Springfield location.
    Property Profile Location Intelligence

    Current Use by Public Records

    Driver Services Department ... State Government Office Yard Shopping Center Shopping Mall Masala Mart Indian Grocery Store Betty's Place Video ... Casino

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.683330310482
    Latitude
    39.76299326265

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    FAQs

    What type of property is this?
    Retail property - 49,500 SF Retail Space, Ample Parking
    Where is this retail property located?
    The property is located at 1650 Wabash Ave Springfield, IL.
    What is the lease rate?
    The lease rate is $8 SF/Yr.
    What are key features of this property?
    This property features: Large retail spaces available for lease at The Yard Shopping Center in Springfield, IL.; Affordable lease rates available.; Ample on-site parking with 169 spaces.
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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
    1650 Wabash Ave Springfield, IL 62704
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