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Property profile & analytics

2301 Monroe St Springfield, IL 62704

  • Commercial real estate
  • 1.33 lot acres
Value Estimation
$415,000
Last Sale
Aug 17, 2021
Location Intelligence
Property ID
US28-3817718
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • Krispy Kreme / Dessert Shop / Fast Food Restaurant
  • Nancy's Chicago Pizza / Pizza Restaurant
  • Nancy's Pizza / Pizza Restaurant / Restaurant
  • Supercuts / Barber Shop / Hair Salon

Property Details for 2301 Monroe St

Lot size
1.33 lot acres
Property type
Commercial real estate
APN
14-31.0-277-030
APU
14310277030

Description

This exceptional commercial property, located at 2301 W Monroe Street in Springfield, Illinois, presents a unique investment opportunity. The property is zoned B-1 and features a single-tenant occupancy on a 1,329 square foot lot. The parcel's address is clearly identified as 2301 W Monroe Street, Springfield, IL 62704, with GPS coordinates of 39.7965983 latitude and -89.6937028 longitude. The property type is classified as both Land and Retail, making it suitable for a variety of commercial uses. The Assessor's Parcel Number (APN) is 14-31.0-277-030. This single-suite building offers a straightforward investment opportunity with potential for immediate income generation or redevelopment. Its location in Springfield, Illinois provides access to a robust local market and established infrastructure. The B-1 zoning designation offers flexibility for a range of commercial ventures. Serious inquiries are encouraged to explore the possibilities of this well-situated commercial land parcel. Further details regarding the property's history and potential uses are available upon request. This is a rare opportunity to acquire a strategically located commercial property in a thriving Illinois market.

Value Estimation

by Realmo proprietary methodology Last update: July 3, 2025
  • AI approach

    CAP return
    Estimation
    Estimation
    $350,000
  • CAP approach

    CAP return
    Estimation
    6%
    $565,000
    6.5%
    $475,000
    7%
    $520,000
  • Comparable approach

    Method
    Estimation
    Relative Method
    $505,000
    Geo Method
    $570,000
  • Alternative Use

    Use
    Estimation
    Distribution
    $540,000
    Retail
    $545,000
    Mixed-Use
    $545,000
    Hospitality
    $500,000
    Educational
    $440,000
    Residential Income
    $490,000
    Energy
    $505,000
    Income-Based Land
    $575,000
    Food Service
    $465,000

Location Insight

  • Map
  • Local Demand
City
Springfield
County
Sangamon
State
Illinois
Longitude
-89.6936
Latitude
39.7965
CBSA code
44100
CBSA name
SPRINGFIELD, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$24,611
$114,804
$163,561
$278,365
-
$344,412
$490,683
$835,095
More about this property
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