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    425 Grand Ave Springfield, IL 62702

    Sponsored
    For Sale
    $395,000

    Prime Corner Lot, High Traffic Area

    Property size:
    3,188 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional commercial property, located at 425 E North Grand Avenue in Springfield, Illinois, presents a unique investment opportunity. The 3,188 square foot building sits on a highly visible corner lot in a vibrant area of Springfield, boasting a daily traffic count exceeding 16,000 vehicles. Currently configured as a former restaurant, the property is ready for immediate occupancy or redevelopment. The single-story building offers ample space for a variety of restaurant concepts, and the generous parking area ensures convenient access for patrons. The property is zoned S-2, providing flexibility for various commercial uses. The asking price is $395,000. This location offers significant potential for a thriving business due to its high visibility and substantial foot traffic. The property's strategic location and existing infrastructure make it an ideal investment for entrepreneurs seeking a well-established commercial space in a bustling area of Springfield. The address is easily accessible, with excellent visibility from North Grand Avenue. This is a rare opportunity to acquire a well-positioned commercial property in a high-traffic area of Springfield, Illinois. The property's size and zoning make it suitable for a variety of commercial ventures. Serious inquiries are encouraged.

    Property Features for 425 Grand Ave

    General Information

    Property type
    Restaurants
    Square Feet
    3,188 SF

    Building Details

    Buildings
    1
    Stories
    1

    HighLights

    • $395,000 asking price.
    • 3,188 square foot building on a prime corner lot in Springfield, IL.
    • S‑2 zoning.
    • One‑story building.
    • Ample parking.
    • Located at 425 E North Grand Avenue, Springfield, IL 62702.
    Property Profile Location Intelligence

    Current Use by Public Records

    Springfield Heating & Air ... Repair Service Essence Leaf Cure ... Medical Supply Store

    Suggested Use

    Realty agency Restaurant Law Firm 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
    -89.6339212
    Latitude
    39.8165483

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    FAQs

    What type of property is this?
    Restaurant - Prime Corner Lot, High Traffic Area
    Where is this restaurant located?
    The property is located at 425 Grand Ave Springfield, IL.
    What is the asking price?
    The asking price for this property is $395,000.
    What are key features of this property?
    This property features: $395,000 asking price.; 3,188 square foot building on a prime corner lot in Springfield, IL.; S-2 zoning.
    Request Owner's contact information
    425 Grand Ave Springfield, IL 62702
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    Springfield, IL 62702
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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
    425 Grand Ave Springfield, IL 62702
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