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    3404 Clear Lake Ave Springfield, IL 62702

    Sponsored
    For Sale
    $78,500

    Prime Springfield location, high visibility, .6 acres.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Springfield, Illinois commercial property, located at 3404 & 3406 Clearlake Avenue, presents a unique investment opportunity. The property encompasses approximately 0.6 acres (approximately 106 feet of frontage and approximately 255 feet deep, totaling 27,030 square feet), strategically positioned between the Best Western Clearlake Plaza and a Jiffi Stop Shell Gas Station. Its prime location offers exceptional visibility, situated near the I-55 and I-72 interchange, ensuring high traffic exposure. The property is zoned B-2 General Business Service District. The buildings are suitable for a variety of commercial uses, including office and restaurant spaces, offering flexibility for diverse business ventures. The 2018 real estate taxes were $2,210.74. This property is an excellent choice for entrepreneurs seeking a high-traffic location with significant development potential. The property's size and location make it ideal for a variety of commercial uses, capitalizing on the high visibility and convenient access to major roadways. Further details are available upon request. Note: Some information may not be entirely accurate

    Property Features for 3404 Clear Lake Ave

    General Information

    Property type
    Restaurants

    HighLights

    • 0.6‑acre commercial lot at 3404 & 3406 Clearlake Avenue, Springfield, IL, with 106' frontage and 255' depth (27,030 sq ft).
    • Prime location between Best Western and Jiffi Stop, near I‑55/I‑72 interchange, offering high visibility and traffic.
    • B‑2 General Business zoning, suitable for office and restaurant uses.
    • 2018 property taxes: $2,210.74.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Building Supply Spa & Massage 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
    -89.6009119
    Latitude
    39.801148

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    FAQs

    What type of property is this?
    Restaurant - Prime Springfield location, high visibility, .6 acres.
    Where is this restaurant located?
    The property is located at 3404 Clear Lake Ave Springfield, IL.
    What is the asking price?
    The asking price for this property is $78,500.
    What are key features of this property?
    This property features: 0.6-acre commercial lot at 3404 & 3406 Clearlake Avenue, Springfield, IL, with 106' frontage and 255' depth (27,030 sq ft).; Prime location between Best Western and Jiffi Stop, near I-55/I-72 interchange, offering high visibility and traffic.; B-2 General Business zoning, suitable for office and restaurant uses.
    Request Owner's contact information
    3404 Clear Lake 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
    3404 Clear Lake Ave Springfield, IL 62702
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