251 4Th St Springfield, IL 62701
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.
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.