700 Grand Ave Springfield, IL 62704
This exceptional commercial property, located at 700 South Grand Avenue in Springfield, Illinois, presents a unique investment opportunity. The two-story, 1,372 square foot building, constructed in 1924, is ideally situated on a 0.1-acre corner lot and benefits from high visibility on South Grand Avenue. The property's zoning is R-5(b), perfectly suited for office use. The building features offices on both the first and second floors, providing ample space for various business needs. A convenient kitchen/break room is included, along with a basement offering additional storage or potential for expansion. Accessibility is ensured by an ADA-compliant ramp. Three dedicated parking spaces are available on the property, adding to its convenience. The building's prime location offers excellent exposure and proximity to Washington Park. The asking price for this well-maintained property is $105,000. This is a rare chance to acquire a historic building in a thriving Springfield location. The property is a single building on a corner lot, offering significant potential for a variety of commercial uses. The modified lease type provides flexibility for potential tenants.
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Anthology Financial Partners - Ameriprise Financial Services, LLC Financial Advisor
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendComparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
No recorded transactions found for this property.
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.