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    Stanford Ave Springfield, IL 62704

    Sponsored
    For Sale
    $2,328,000

    3.4-acre prime development site in high-traffic area.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional 3.4-acre industrial and commercial land parcel is strategically located at the intersection of S MacArthur Blvd and W Stanford Ave in Springfield, Illinois (zip code 62704). The property boasts a highly desirable location within a thriving commercial corridor, experiencing exceptionally high traffic volume with 17,400 vehicles per day north/south and 25,300 vehicles per day east/west. This makes it an ideal site for a variety of development projects. The permitted zoning includes I-1, B-1, R-5b, and R-2, offering flexibility for diverse uses. Surrounding businesses include established national retailers such as Hy-Vee, Scheels, Casey's, CVS, Sonic, and On Track Car Wash, along with a new Green Subaru dealership currently under construction. This prime location ensures high visibility and accessibility for any future development. The property consists of multiple tax parcels: 22090151008, 22090151038, 22090151044, 22090151023, 22090176022, 22090179087, and 22090179088. The asking price for this exceptional development opportunity is $2,328,000.

    Property Features for 0 Stanford Ave

    General Information

    Property type
    Land
    Lot Size
    148,104 SF

    HighLights

    • 3.4‑acre industrial and commercial land parcel in Springfield, IL (62704).
    • High‑traffic location at S MacArthur Blvd & W Stanford Ave, with 17,400+ vehicles daily north/south and 25,300+ east/west.
    • I‑1, B‑1, R‑5b, and R‑2 zoning allows for diverse development.
    • Excellent visibility and accessibility near national retailers (Hy‑Vee, Scheels, etc.) and a new Subaru dealership.
    • Multiple tax parcels: 22090151008, 22090151038, 22090151044, 22090151023, 22090176022, 22090179087, and 22090179088.
    • Asking price: $2,328,000.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.6679464
    Latitude
    39.7652693

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    FAQs

    What type of property is this?
    Land - 3.4-acre prime development site in high-traffic area.
    Where is this land located?
    The property is located at Stanford Ave Springfield, IL.
    What is the asking price?
    The asking price for this property is $2,328,000.
    What are key features of this property?
    This property features: 3.4-acre industrial and commercial land parcel in Springfield, IL (62704).; High-traffic location at S MacArthur Blvd & W Stanford Ave, with 17,400+ vehicles daily north/south and 25,300+ east/west.; I-1, B-1, R-5b, and R-2 zoning allows for diverse development.
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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
    Stanford Ave Springfield, IL 62704
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