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Property profile & analytics
OFF-MARKET
Office Spaces

700 Grand Ave Springfield, IL 62704

1,372 SF 0.1 ac lot Built 1924
Property ID
Property summary
AI-generated overview

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.

Property profile
Verified
Property type Office Spaces
Year built 1924
Total area 1,372 SF
Lot 0.1 ac (4,356 SF)
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
  • Anthology Financial Partners - Ameriprise Financial Services, LLC Financial Advisor
Value estimations
Realmo proprietary · 4 methods
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Owner & transaction history
Owner on record
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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