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    800 Commercial Ave Springfield, IL 62703

    For Sale
    $300,900

    Prime Springfield IL location, warehouse, income producing.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This exceptional investment opportunity presents a +/- 2.10-acre industrial property situated at the corner of Cook Street and Commercial Avenue in Springfield, Illinois, zip code 62703. Currently generating a monthly rental income of $1,250 from a year-to-year lease with a renewal option until May 1, 2015, the property is utilized as a distribution terminal by Choice Products USA, LLC. The asking price of $300,900 reflects the land value only. The property is primarily fenced. 2010 real estate taxes totaled $4,691.40. This versatile property offers significant potential. The owner is willing to sell a portion of the property, including the building improvements or the vacant land separately, providing flexibility for various investment strategies. The owner will also consider dividing the property. This presents a unique chance to acquire a strategically located industrial property in a thriving Illinois market, ideal for investors seeking immediate income and future development possibilities. The property's prime location and existing income stream make it an attractive proposition for both seasoned and emerging investors. Serious inquiries are encouraged.

    Property Features for 800 Commercial Ave

    General Information

    Property type
    Distribution properties
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Restaurant Realty agency Spa & Massage Building Supply Dental Office Wholesale Shop Hair Salon 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
    -89.6079837
    Latitude
    39.7941693

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    FAQs

    What type of property is this?
    Distribution property - Prime Springfield IL location, warehouse, income producing.
    Where is this distribution property located?
    The property is located at 800 Commercial Ave Springfield, IL.
    What is the asking price?
    The asking price for this property is $300,900.
    Request Owner's contact information
    800 Commercial Ave Springfield, IL 62703
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    Springfield, IL 62703
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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
    800 Commercial Ave Springfield, IL 62703
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