3425 Freedom Dr Springfield, IL 62704-6517

Property Details for 3425 Freedom Dr

Lot size

0.69 lot acres

Property type

Commercial real estate

APN

21-13.0-228-034

APU

21130228034

Description

This exceptional retail investment opportunity features a 24,500 square foot, 100% occupied multi-tenant property in Springfield, Illinois. Anchored by Aldi and Eyemart Express, this NNN-leased property boasts a strong 6.46% cap rate and a substantial NOI of $319,715. The property sits on a 0.69-acre lot within the highly trafficked Parkway Pointe Plaza, a Walmart and Target-anchored center experiencing approximately 6 million annual visits—three times more than the next closest competitor. Aldi's lease extends to 2033, while Eyemart Express recently renewed for a further 10 years, ensuring long-term stability. The property benefits from its prime location at the intersection of Veterans Parkway (31,800 vehicles per day) and Lindbergh Boulevard, with convenient access to Interstate 72. The surrounding area features a robust demographic profile, including 97,965 residents within a five-mile radius with an average household income of $94,548 and median home values of $171,300. The property's location within the White Oaks trade area, a dense retail corridor, places it near major retailers such as White Oaks Mall, TJ Maxx, Burlington, Marshalls, Best Buy, and numerous dining options. This irreplaceable location, combined with strong tenant performance and long-term leases, presents a compelling investment opportunity with significant upside potential. The asking price is $4,950,000, translating to $202.04 per square foot. Built in 1993, this property offers a rare chance to acquire a high-performing asset in a thriving retail market.

Location Insight

City

Springfield

County

Sangamon

State

Illinois

Longitude

-89.7104

Latitude

39.7509

CBSA code

44100

CBSA name

SPRINGFIELD, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments