1315 Ottis St Springfield, IL 62703
- Commercial real estate
- 2.11 lot acres
Current Use by Public Records
- Key Equipment & Supply Co. / Equipment Supplier
Property Details for 1315 Ottis St
- Lot size
- 2.11 lot acres
- Property type
- Commercial real estate
- APN
- 22-22.0-400-038
- APU
- 22220400038
Description
This exceptional 13,604 square foot commercial building at 1315 Ottis Street in Springfield, Illinois, presents a unique investment opportunity. The property boasts a multi-use design, ideal for a variety of businesses. A welcoming reception area sets the tone, leading to several well-appointed office spaces, complete with restrooms conveniently located on both floors. A spacious conference room, featuring a wall of windows offering a view of the expansive shop/warehouse area, provides a professional setting for meetings. A dedicated break room adds to employee convenience. The substantial 8,064 square foot industrial warehouse space is a key feature, highlighted by impressive 26-foot ceilings. Eight brand-new overhead doors, equipped with new side openers, maximize usable ceiling space and facilitate efficient material handling. A crane/hoist system further enhances operational capabilities. The exterior is fully fenced, secured by a new gate, and includes a large parking area for ample vehicle accommodation. Recent improvements include a fresh coat of paint (applied in 2021) and the addition of new gutters, enhancing both aesthetics and functionality. The building also benefits from a newly installed wiring system designed for computer networks and a comprehensive security system, ensuring both technological readiness and peace of mind. This property offers a compelling blend of office and warehouse space, making it an attractive prospect for a diverse range of commercial enterprises.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $490,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $395,000
- 6.5%
- $415,000
- 7%
- $395,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $370,000
- Geo Method
- $455,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $505,000
- Retail
- $465,000
- Mixed-Use
- $500,000
- Hospitality
- $455,000
- Educational
- $520,000
- Residential Income
- $415,000
- Energy
- $405,000
- Income-Based Land
- $425,000
- Food Service
- $500,000
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Sangamon
- State
- Illinois
- Longitude
- -89.6353
- Latitude
- 39.7325
- CBSA code
- 44100
- CBSA name
- SPRINGFIELD, IL METROPOLITAN STATISTICAL AREA
