Property profile

2524 Farragut Dr Springfield, IL 62704

OFF-MARKET
Office Spaces
18,000 SF
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Property summary

AI-generated overview

This exceptional Springfield, Illinois medical office building presents a compelling investment opportunity. Priced at $1,200,000 ($66.67/SF), this multi-tenant property boasts a total of 18,000 square feet, situated on two parcels (APN 14310256007 & 14310256008) and zoned R-5A. The building is partially leased, offering immediate income potential and the flexibility to lease available medical office suites. A significant portion of the building (12,000 SF) features a recently installed roof and HVAC system, ensuring efficient and cost-effective operation. A sizable basement provides ample storage space. This prime location in Springfield, IL (2524 Farragut Dr, 62704) offers excellent visibility and accessibility for both patients and staff. The property's strong foundation, coupled with its strategic location and existing infrastructure, makes it an ideal investment for those seeking a stable and potentially high-growth asset in the thriving healthcare sector. This is a rare opportunity to acquire a well-maintained medical office building with significant upside potential. The property is located in Sangamon County.

Property profile

Verified
Property type Office Spaces
Total area 18,000 SF

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
  • Hospital Children's Hospital
  • Medical Clinic
  • Medical Clinic
  • Physician
  • Employment Agency

Location

2524 Farragut Dr Springfield, IL 62704
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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