1861-1927 E Sangamon Ave - Retail FOR SALE


Springfield, IL 62702
$16,695,000 USD
847-384-2840
1861-1927 E Sangamon Ave, Springfield, IL for Sale
$16,695,000 USD
Retail - FOR SALE
1/19
null | 7.26% Cap Rate

1861-1927 E Sangamon Ave
Springfield, IL 62702


HIGHLIGHTS

  • Outlot Lease-up: The property includes a 0.22 (approximately) acre out lot with full visibility and access to E Sangamon Ave, which would be ideal for
  • QSR Potential: The neighboring property currently underutilizes the adjoining property. There is potential to purchase additional land from that owner
  • Below Market Rent: The current average rental rate is well below market at only $9.44 psf, which offers a buyer assurance that the property will stay
  • Limited Market Availability: The current market vacancy rate is 2.02%, in-line with the 3-year average of 2.00%, which offers limited availability for

OVERVIEW

Introducing SANGAMON CENTER NORTH , located at 1861-1927 E Sangamon Ave, Springfield, IL 62702 . Perfectly situated in a prime location in Springfield, this property offers a lucrative investment opportunity. Boasting a strategic location with high visibility and convenient access, SANGAMON CENTER NORTH is an ideal commercial space. The property presents a versatile space suitable for various businesses, with potential for retail, office, or mixed-use development. The property's compelling features include ample parking, modern facilities, and a high-traffic area that ensures maximum exposure for businesses. Investors seeking a promising venture in a thriving market will find SANGAMON CENTER NORTH to be a valuable asset with significant potential for growth and profitability. Don't miss this exceptional opportunity to acquire a prime commercial property. Reach out now to explore the possibilities that SANGAMON CENTER NORTH in Springfield has to offer. Please click on the link to get full access to the Property: https://platform.reverecre.com/project/60bc2a04-6654-4553-acdc-4d823ccb077f/outreach

FOR SALE DETAILS

PRICE

$16,695,000 USD

PRICE/SF

$129 USD /SF

CAP RATE

7.26%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Sangamon Center North

PROPERTY TYPE

Retail

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1974

SPRINKLERS

-

PARKING SPACES

794

LAND DETAILS

CROSS STREETS

19th St

LAND ACRES

11.82 AC

LAND SF

514,879 SF

ZONING

B-1, S-2

APN/PARCEL ID

14-14.0-355-023

ASK ABOUT THIS PROPERTY

Peter BlockColliersMore Info
847-384-2840

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Peter BlockColliersMore Info
847-384-2840

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.