Current Use by Public Records
- Brown Management Corp. / Business Management Consultant
- Coldwell Banker Commercial Devonshire Realty / Real Estate Agency
- Upper Echelon Marketing Inc. / Advertising Agency / Marketing & Advertising
- Veloxinet / Telecommunications Service / Data Center
- Kristi Mitchell Photography / Photography Service / (Bike/Boat/Book/etc) Store
Property Details for 427 Monroe St
- Property type
- Office Spaces
Description
This exceptional Class B office building, located at 427 E. Monroe in Springfield, Illinois, presents a compelling investment opportunity. The property boasts 18,000 square feet of space, currently 67% occupied, offering significant potential for increased revenue. Priced at $750,000, or $41.67 per square foot, this building provides a strong return on investment. The building is zoned S-3 and is owned by an LLC. Conveniently situated in the heart of downtown Springfield, the property includes 12 parking spaces located to the west of the building, providing ample parking for tenants and visitors. A sizable basement offers valuable storage space, adding to the property's functionality and appeal. The building's current occupancy rate presents a solid foundation for future growth, with opportunities to lease the remaining vacant space. This is an excellent chance to acquire a well-located, established office building in a thriving downtown area. The property's features, including ample parking and storage, make it an attractive option for a variety of professional tenants. The strategic location in Springfield, Illinois, ensures high visibility and accessibility. This is a turnkey opportunity for an investor seeking a stable and potentially high-growth commercial real estate asset.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Sangamon
- State
- Illinois
- Longitude
- -89.6496
- Latitude
- 39.7996
