1244 Sangamon Ave Springfield, IL 62702
- Commercial real estate
- 0.17 lot acres
Current Use by Public Records
- Lincoln Chiropractic Clinic / Chiropractor
- Oliver Dana DC / Chiropractor
- Bersche Heather / Massage Therapist
Property Details for 1244 Sangamon Ave
- Lot size
- 0.17 lot acres
- Property type
- Commercial real estate
- APN
- 14-22.0-226-044
- APU
- 14220226044
Description
This exceptional 2,500 square foot commercial building, situated on a 0.17-acre lot at 1244 E Sangamon Avenue in Springfield, Illinois, presents a unique investment opportunity. Previously utilized as a chiropractic office, this versatile space is ideally suited for a variety of commercial uses. Its prime location at the highly trafficked intersection of Sangamon Avenue and Peoria Road ensures excellent visibility and accessibility. The property boasts a strong neighborhood presence, with nearby businesses including Walgreens, a gas station, a popular pizza restaurant, and a major bank. The strategic positioning directly across from the Illinois State Fairgrounds offers significant potential for increased foot traffic and visibility, particularly during the annual fair. Currently zoned B-1, this property offers flexibility for various commercial ventures. The building is available for both sale at $289,900 and lease at a monthly rate of $3,125. This presents a compelling opportunity for businesses seeking a well-located, established space in a thriving Springfield neighborhood. The property's size and location make it an attractive option for a range of commercial enterprises seeking a high-traffic location with strong visibility and established neighboring businesses. Serious inquiries are encouraged.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $195,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $215,000
- 6.5%
- $240,000
- 7%
- $210,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $195,000
- Geo Method
- $230,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $225,000
- Retail
- $200,000
- Mixed-Use
- $270,000
- Hospitality
- $250,000
- Educational
- $205,000
- Residential Income
- $260,000
- Energy
- $250,000
- Income-Based Land
- $200,000
- Food Service
- $205,000
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Sangamon
- State
- Illinois
- Longitude
- -89.6369
- Latitude
- 39.8307
- CBSA code
- 44100
- CBSA name
- SPRINGFIELD, IL METROPOLITAN STATISTICAL AREA
