700 Grand Ave Springfield, IL 62702
- Retail properties
- 3,074 SF
Current Use by Public Records
- Anthology Financial Partners - Ameriprise Financial Services, LLC / Financial Planner / Investment Service
Property Details for 700 Grand Ave
- Year built
- 1962
- Property size
- 3,074 SF
- Property type
- Retail properties
- Property subtype
- Mixed-use properties
Description
This 3,074 square foot building, situated on a 0.3-acre corner lot at the intersection of North Grand Avenue and 7th Street in Springfield, Illinois, presents a compelling commercial investment opportunity. Previously used as a quick lube facility, the property boasts high visibility on North Grand Avenue, a minor arterial road with an average daily traffic count of 11,400 vehicles. The I-1 zoned property offers excellent access from both streets and an adjacent alley, enhanced by a pole sign and overhead doors. The building, constructed in 1962, is a single-story structure. The lot features concrete and asphalt paving. This strategically located property benefits from its position within a Tax Increment Financing (TIF) District, Enterprise Zone, and Opportunity Zone, as well as proximity to the Mid-Illinois Medical District. The asking price is $265,000, translating to $86.21 per square foot. This vacant building offers significant potential for a variety of uses, making it an ideal investment for discerning buyers. The property's prime location and versatile zoning ensure strong potential for future growth and profitability.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Sangamon
- State
- Illinois
- Longitude
- -89.6457
- Latitude
- 39.8162
