Property profile

427 Monroe St Springfield, IL 62701

OFF-MARKET
Office Spaces
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Property summary

AI-generated overview

This exceptional commercial property at 427 Monroe Street in Springfield, Illinois (APN 14340107051) offers a unique investment opportunity. The property, zoned S-3, encompasses a 6,000 square foot building situated on a single-tenant land parcel. Currently configured as a bar/restaurant, the space boasts a highly desirable downtown location at the corner of 5th and Monroe Streets. The interior features an open floor plan, perfect for entertainment venues or adaptable to various commercial uses. The existing layout includes two separate bar areas, a stage, and provides ample space for customization. Adding to its appeal are two outdoor seating areas, ideal for expanding operations and creating a vibrant atmosphere. The building consists of a single suite, offering flexibility for a single large tenant or the potential for division into smaller spaces. This property presents a rare chance to acquire a well-located, versatile commercial space in a thriving downtown area. The property's size and layout offer significant potential for a variety of businesses. Serious inquiries are encouraged.

Property profile

Verified
Property type Office Spaces

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Current use

Occupant on record · Public records
  • Business Management Consultant
  • Real Estate Agency
  • Advertising Agency Marketing & Advertising
  • Telecommunications Service Data Center
  • Photography Service (Bike/Boat/Book/etc) Store

Location

427 Monroe St Springfield, IL 62701
Springfield metro
Google Maps

Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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