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    OFF-MARKET
    Office Spaces

    427 Monroe St, Springfield, IL 62701

    Property ID
    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
    Implied cap rate, NOI & suggested price
    Cap vs submarket · NOI estimate · 3 price anchors
    Current use
    Occupant on record · Public records
    • Brown Management Corp. Business Management Consultant
    • Coldwell Banker Commercial Devonshire Realty Real Estate Agency
    • Upper Echelon Marketing Inc. Advertising Agency Marketing & Advertising
    • Veloxinet Telecommunications Service Data Center
    • Kristi Mitchell Photography Photography Service (Bike/Boat/Book/etc) Store
    Value estimations
    Realmo proprietary · 4 methods
    AI Approach AI
    by Request
    CAP Approach CAP
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    Comparable Approach Comparable
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    Blend (final) Blend
    by Request
    Owner & transaction history
    Owner on record
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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