Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    2060 Timberbrooke Dr Springfield, IL 62702
    Back to Search
    Property profile & analytics

    2060 Timberbrooke Dr, Springfield, IL 62702

    View on Map
    • Office Spaces
    • 4,256 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Isalis / (Bike/Boat/Book/etc) Store
    • Party City / Party Supply Store / (Bike/Boat/Book/etc) Store
    • Skunk Funk / Big Box & Wholesale Store
    • Carl's Trading Co / Hat Shop
    • Bushka's Kitchen LLC / (Bike/Boat/Book/etc) Store

    Property Details for 2060 Timberbrooke Dr

    Year built
    1992
    Property type
    Office Spaces
    Property subtype
    Land

    Description

    This 4,256 square foot commercial property, located at 2060 Timberbrooke Drive in Springfield, Illinois, presents a compelling investment opportunity. Built in 1992, this ranch-style building features a walkout lower level and is situated in a central west location within a business court alongside other professional offices, including medical, legal, insurance, and non-profit entities. The main level, currently utilized as a photography studio, boasts six individual offices, a spacious open area, a kitchenette, and a bathroom. It generates $1,500 in monthly rental income from the owner-occupancy. The lower level comprises three office spaces ranging from 400 to 600 square feet, sharing a bathroom. Two of these spaces are currently leased month-to-month, generating an additional $1,500 in monthly income, while one space is vacant but has a proven rental history. The building is constructed with 2x6 framing, features a well-maintained roof and sprinkler system, and boasts good mechanicals. The main level is handicap accessible. This versatile property offers numerous potential uses and is ideal for owner-occupancy or as a strong investment property. The asking price is $259,000. The property's zip code is 62702.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Springfield
    County
    Sangamon
    State
    Illinois
    Longitude
    -89.6888
    Latitude
    39.8027

    Comparable in this City

    • Value Estimation by Request

      2395 Jefferson St

      Office Spaces
      2395 Jefferson St, Springfield, IL 62702
      View Details
    • Value Estimation by Request

      104 Grand Ave

      Office Spaces
      104 Grand Ave, Springfield, IL 62702
      View Details
    • Value Estimation by Request
      5,960 SF

      2040 Timberbrooke Dr

      Office Spaces
      2040 Timberbrooke Dr, Springfield, IL 62702
      View Details
    • Value Estimation by Request

      2040 Hill Meadows Dr

      Office Spaces
      2040 Hill Meadows Dr, Springfield, IL 62702
      View Details
    • Value Estimation by Request
      3,500 SF

      2021 Timberbrook Cul-De-Sac

      Office Spaces
      2021 Timberbrook Cul-De-Sac, Springfield, IL 62702
      View Details
    • Value Estimation by Request
      0.49 Acres

      634 Grand Ave

      Land
      634 Grand Ave, Springfield, IL 62702
      View Details

    Similar Nearby for Sale

    • $60,000
      2.00 Acres

      2-Acre Land Parcel in Springfield

      Prime 2-acre property in a convenient Springfield location.
      1608 N 32Nd St, Springfield, IL 62702
      View Details
    • Contact for pricing
      0.13 Acres

      Vacant Land in Springfield, IL

      Vacant lot available in Springfield, Illinois.
      821 North 9Th St, Springfield, IL 62702
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      3406 Clear Lake Ave, Springfield, IL 62702
      View Details
    • Contact for pricing

      Land Opportunity with Multiple Uses

      Land available for sale with potential for various uses.
      925 E Ridgely Ave, Springfield, IL 62702
      View Details
    • $135,000
      Pending

      Residential Land Parcel in Springfield

      5.47 acre residential land parcel with commercial potential.
      2102 W Jefferson St, Springfield, IL 62702
      View Details
    • Contact for pricing

      Land Available For Sale

      Land available for sale at North Grand Avenue West.
      634 North Grand Ave West, Springfield, IL 62702
      View Details

    Similar Nearby for Lease

    • $7 SF/Yr
      12,000 SF

      Springfield Warehouse Space For Lease

      12,000 SF Warehouse, Utilities Included
      2900 Dirksen Pkwy, Springfield, IL 62702
      View Details
    • Contact for pricing

      Office Space in Springfield, IL

      Office space with private offices, kitchenette, and high traffic.
      1544 W Jefferson Ave, Springfield, IL 62702
      View Details
    • Contact for pricing

      Springfield Commercial Space For Lease

      Professional office space in high-traffic location, suitable for various businesses.
      2945 E Sangamon Ave, Springfield, IL 62702
      View Details
    • Contact for pricing
      1,945 SF

      Remodeled Office Space Available

      Move-in ready office space with flexible layout.
      605-615 W Jefferson St, Springfield, IL 62702
      View Details
    • Contact for pricing

      Office Space in Springfield, IL

      400 sq ft office space for rent.
      2372 N Grand Ave, Springfield, IL 62702
      View Details
    • Contact for pricing
      2,750 SF

      Downtown Springfield Commercial Space Available

      Street-front business locations in a mixed-use development.
      251-261 N 4Th St, Springfield, IL 62702
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2060 Timberbrooke Dr
    Springfield, IL 62702
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2060 Timberbrooke Dr, Springfield, IL, 62702
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!