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Property profile & analytics
OFF-MARKET
Office Spaces

1401 5Th St Springfield, IL 62703

7,700 SF
Property ID
Property summary
AI-generated overview

This 7,700 square foot traditional office building in Springfield, Illinois, is situated at 1401 S 5th St, zip code 62703, and zoned R-5B. Priced at $299,900 ($38.95/sq ft), it offers a prime location with easy access to both the Interstate and downtown. The main floor features a former music studio divided into several rooms, plus two large rooms with a 10x10 overhead door ideal for loading and unloading. The second floor includes two large apartments and a private office. This versatile property benefits from high traffic counts, making it an excellent opportunity for businesses needing convenient and adaptable space. The single building presents a unique blend of commercial and residential potential, offering significant flexibility for a variety of uses. Its strategic location and adaptable layout make it a compelling investment opportunity in a thriving area.

Property profile
Verified
Property type Office Spaces
Total area 7,700 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
  • Hiso Music Marketing & Advertising Advertising Agency
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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