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Property profile & analytics
OFF-MARKET
Specialty properties

251 4Th St Springfield, IL 62701

55,640 SF Built 2016
Property ID
Property summary
AI-generated overview

This exceptional commercial property, located at 251 N 4th Street in Springfield, Illinois, presents a unique investment opportunity. The property consists of two buildings totaling 55,640 square feet, offering multiple suites within a vibrant mixed-use development. Currently, 1,560 square feet of space is immediately available, with additional space potentially available up to 2,750 square feet. Built in 2016, this Class D property features one-story buildings and is situated in a high-traffic area between the central business district and the Mid-Illinois Medical District. The S-3 zoning allows for a wide range of uses, including restaurant, retail, and office spaces, providing significant flexibility for potential tenants. The property's strategic location within a new development encompassing over 75 residential apartments ensures a consistent flow of potential customers and employees. This is an ideal opportunity to establish a presence in a rapidly developing area of Springfield, Illinois, benefiting from the synergy of a thriving residential community and a dynamic commercial environment. The property is conveniently located near Madison Street. This is a rare chance to secure a foothold in a burgeoning downtown area.

Property profile
Verified
Property type Specialty properties
Year built 2016
Total area 55,640 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
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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