700 Grand AveSpringfield, IL 62702

Property Details for 700 Grand Ave

Year built

1962

Property size (Sq ft)

3,074 SF

Property type

Retail properties

Property subtype

Mixed-use properties

Description

This 3,074 square foot building, situated on a 0.3-acre corner lot at the intersection of North Grand Avenue and 7th Street in Springfield, Illinois, presents a compelling commercial investment opportunity. Previously used as a quick lube facility, the property boasts high visibility on North Grand Avenue, a minor arterial road with an average daily traffic count of 11,400 vehicles. The I-1 zoned property offers excellent access from both streets and an adjacent alley, enhanced by a pole sign and overhead doors. The building, constructed in 1962, is a single-story structure. The lot features concrete and asphalt paving. This strategically located property benefits from its position within a Tax Increment Financing (TIF) District, Enterprise Zone, and Opportunity Zone, as well as proximity to the Mid-Illinois Medical District. The asking price is $265,000, translating to $86.21 per square foot. This vacant building offers significant potential for a variety of uses, making it an ideal investment for discerning buyers. The property's prime location and versatile zoning ensure strong potential for future growth and profitability.

Location Insight

City

Springfield

County

Sangamon

State

Illinois

Latitude

39.8162

Longitude

-89.6457

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