5220 6Th St Springfield, IL 62703
- Commercial real estate
- 2.93 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 5220 6Th St
- Lot size
- 2.93 lot acres
- Property type
- Commercial real estate
- APN
- 22-27.4-126-002
- APU
- 22274126002
Description
This Springfield, Illinois property, Hope Pavilion, offers 11,919 square feet of vacant office space for lease in a well-maintained, two-story building constructed in 1998 and renovated in 2008. The building sits on a 2.91-acre lot and features 150 parking spaces, elevators, and is conveniently located near Interstate 55, boasting 46,300 AADT traffic counts. The space is divisible into units as small as 4,832 square feet and up to a contiguous 7,087 square feet, making it suitable for a variety of businesses. Multiple suite configurations are available, including options with spacious waiting rooms, numerous private offices, multiple break areas, and ADA-compliant restrooms. Building amenities include a shared second-story conference room with a kitchenette and A/V capabilities, and a ground-floor café offering food and beverages. Utilities, wireless internet, and janitorial services are included in the lease rate
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $295,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $385,000
- 6.5%
- $385,000
- 7%
- $365,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $315,000
- Geo Method
- $410,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $380,000
- Retail
- $275,000
- Mixed-Use
- $280,000
- Hospitality
- $375,000
- Educational
- $365,000
- Residential Income
- $290,000
- Energy
- $335,000
- Income-Based Land
- $310,000
- Food Service
- $295,000
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Sangamon
- State
- Illinois
- Longitude
- -89.6418
- Latitude
- 39.727
- CBSA code
- 44100
- CBSA name
- SPRINGFIELD, IL METROPOLITAN STATISTICAL AREA