2301 Monroe St Springfield, IL 62704
- Commercial real estate
- 1.33 lot acres
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
-
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