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    920 Grand Ave Springfield, IL 62702

    Sponsored
    For Sale
    $1,200,000

    High-visibility, vacant retail space.

    Property size:
    15,251 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This 15,251 square-foot freestanding retail building is situated on a 1.95-acre hard corner lot in Springfield, Illinois, at 920 N Grand Ave E, zip code 62702. Built in 2001, the single-story structure features 72 parking spaces and a drive-thru. The property boasts high visibility due to its location on a signalized intersection with a high average daily traffic count of 20,550. The building includes a spacious open sales area with 12-foot ceilings, a small office, photo room with eye-washing station, a wet-sprinkler-equipped back stock room, an 18'6" x 11' walk-in cooler, three restrooms, a lounge area, and a former pharmacy. A 5,000 lb hydraulic dock lift is also present. The property is zoned S-3, Central Shopping District, and is located within the Enos Park Tax Increment Financing (TIF) District and the Springfield/Sangamon County Enterprise Zone, making it eligible for various incentives. The asking price is $1,200,000 ($78.68/sq ft). The property's APN is 14-27.0-202-026. Springfield is the capital of Illinois, offering a strong economy driven by tourism, higher education (including the University of Illinois Springfield), and its central location along Interstate 55 and 72. This presents a unique opportunity for owner-users seeking a high-traffic location with significant growth potential.

    Property Features for 920 Grand Ave

    General Information

    Property type
    Individual retail properties
    Square Feet
    15,251 SF
    Lot Size
    84,942 SF

    Building Details

    Year Built
    2001
    Buildings
    1
    Stories
    1

    HighLights

    • High‑visibility freestanding retail building with multiple pylon signs.
    • 1.95‑acre hard corner lot at a signalized intersection.
    • Ample parking with 72 spaces and drive‑thru capabilities.
    • Located in Springfield, IL's Enos Park TIF District and Enterprise Zone, offering potential incentives.
    Property Profile Location Intelligence

    Current Use by Public Records

    Coinstar Vending Machine Supplier Coinhub Bitcoin ATM ... Atm LibertyX Bitcoin ATM Atm MoneyGram Money Transfer Service CDReload - Online Bitcoin ... Crypto Atm

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.642774054729
    Latitude
    39.815993445603

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    FAQs

    What type of property is this?
    Individual retail property - High-visibility, vacant retail space.
    Where is this individual retail property located?
    The property is located at 920 Grand Ave Springfield, IL.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: High-visibility freestanding retail building with multiple pylon signs.; 1.95-acre hard corner lot at a signalized intersection.; Ample parking with 72 spaces and drive-thru capabilities.
    Request Owner's contact information
    920 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
    920 Grand Ave Springfield, IL 62702
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