Value-Add Multi-Tenant Office & Retail Investment Building For Sale

InvestmentSaleOffice 11,380 SF
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917 Clocktower Dr
Springfield, IL 62704
Price: $539,000
Available Space: 11,380 SF
Lot Size (acre): 1.07 AC
Zoning: S-2
Tax PIN: 14-31.0-376-042, -044
Cap Rate: 6.30%
NOI: $33,941

Property Description

Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to exclusively offer for sale this Multi-Tenant Office & Retail Investment Building in Springfield, IL.  The building was constructed in 1980 with an addition in 1995 and an interior remodel of the building in 2007.  The building layout consists of several private suites, two (2) common area restrooms, kitchenette, and multiple waiting areas.  Currently, there are only two (2) vacancies (18 total). Additional income ($2,500 –2021) from the on-site vending machine.

Location Description

The property is in a desirable and affordable west side location of Springfield.  It is visible from the highly traveled Rt. 4/Veteran Pkwy (24,000 AADT), and one block from prime commuter traffic on W. Monroe (21,500 AADT).  The surrounding area includes many destinations, such as Levi, Ray & Shoup(LRS), Crawford, Murphy & Tilly (CMT), AMF Strike N’ Spare Lanes, Walgreens, Krispy Kreme Doughnuts, and a small medical office park.

Area Description

Springfield is the Capital of Illinois.  It is located in Central Illinois with access to Interstate 55 and Interstate 72.  It is approximately 202 miles southwest of Chicago and 92 miles northeast of St. Louis, MO.  The historic US Route 66 cross Illinois from Chicago to East St. Louis, which includes Springfield.