Sangamon Center North 1861-1927 E Sangamon Ave

129,335 SF 98% Leased Retail Building Springfield, IL 62702 $16,695,000 ($129/SF) 7.26% Cap Rate

INVESTMENT 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
  • 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
  • QSR Potential: The neighboring property currently underutilizes the adjoining property. There is potential to purchase additional land from that owner
  • 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

EXECUTIVE SUMMARY

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

PROPERTY FACTS

Sale Type
Investment
Property Type
Retail
Building Size
129,335 SF
Building Class
B
Year Built/Renovated
1974/1996
Price
$16,695,000
Price Per SF
$129
Cap Rate
7.26%
NOI
$1,211,819
Percent Leased
98%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.25
Lot Size
11.82 AC
Zoning
B-1, S-2 - City of Springfield
Parking
794 Spaces (5.68 Spaces per 1,000 SF Leased)

AMENITIES

  • Bus Line
  • Tenant Controlled HVAC
  • Air Conditioning

MAJOR TENANTS Click Here to Access

  • TENANT
  • INDUSTRY
  • SF OCCUPIED
  • RENT/SF
  • LEASE TYPE
  • LEASE END
  • Retailer
  • -
  • -
  • Lorem Ipsum
  • Jan 0000

CVS Health is building a world of health around every consumer. Their unmatched reach allows them to deliver high-quality, affordable health care when and how individuals choose. They are on a mission to deliver superior and more connected experiences, lower the cost of care and improve the health and well-being of those they serve. As a leading health solutions company, they offer multiple channels to access health care locally and nationally. Their strong community presence, tech-forward approach and unmatched engagement with millions of people enabling them to deliver high-quality, personalized, affordable health care. Guided by their purpose, CVS Health® is building an entire world of health care around each and every person they serve, no matter where they are on their journey. They listen, show empathy and deliver innovative solutions that serve people’s unique needs and earn their loyalty. Because how they deliver their services is just as important as what they deliver.

  • Health Care and Social Assistance
  • -
  • -
  • Lorem Ipsum
  • Jan 0000

In their 45+ year history, Help at Home, headquartered in Chicago, Illinois, has provided care for individuals, helping them to remain independent and able to live their best lives in their own homes. Their clients have always been like family. As the leading national provider of high-quality, relationship-based home care for seniors and people living with disabilities, they’re uniquely positioned as the home care company of choice. Their person-centered home care services create Great Days and Meaningful Moments for individuals, while also driving high-quality, low-cost outcomes. They provide in-home, community-based care in 13 states and 169 locations with the help of 30,000 highly trained, compassionate caregivers who have relationships with 67,000 clients.

  • Retailer
  • -
  • $9.99
  • Lorem Ipsum
  • Jan 0000

The “plus” is us, i.e., the people of their distribution centers, Michigan-based headquarters, and hundreds of stores. As the nation’s largest independent pet store, they’ve made it their mission to make life easier for pet parents and to create opportunities that make life better for their team members. While pets inspire them, it’s their inclusive work environment and collaborative culture that drive them. As a company, their dedication to the furry, feathered, scaly and finned can be summed up by four core values they call their “Paw Print.” This is their blueprint for success at Pet Supplies Plus and it’s based on the idea that every team member should be neighborly, petcentric, trustworthy and knowledgeable.

  • Arts, Entertainment, and Recreation
  • -
  • -
  • Lorem Ipsum
  • Jan 0000

Planet Fitness was founded in 1992, in Dover, NH. In the beginning, it operated much like every other gym in its small hometown and catered to the same small percentage of the population in the U.S. who worked out and belonged to a health club. Today, Planet Fitness has become one of the largest and fastest-growing franchisors and operators of fitness centers in the United States by number of members and locations. With more than 2,600 locations in 50 states, the District of Columbia, Puerto Rico, Canada, Panama, Mexico and Australia, Planet Fitness has continued to spread its unique mission of enhancing people’s lives by providing an affordable, high-quality fitness experience in a welcoming, non-intimidating environment.

  • Rent A Center
  • Retailer
  • -
  • -
  • Lorem Ipsum
  • Jan 0000
  • Retailer
  • -
  • -
  • Lorem Ipsum
  • Jan 0000

Teammates of Schnuck Markets, Inc. have been serving customers a unique combination of quality food, variety and value for more than eight decades. Founded in north St. Louis in 1939, the family-owned grocery company has grown to include stores in five states: Missouri, Illinois, Indiana, Wisconsin and Iowa. With the past as a predictor of the future, Schnuck Markets can count on ongoing growth and change at Schnucks. One thing will never change: their recognition that their customers are their reason for being. Every position in the company exists to help them understand, serve and satisfy their customers.

TENANT INDUSTRY SF OCCUPIED RENT/SF LEASE TYPE LEASE END
Retailer - - Lorem Ipsum Jan 0000
Health Care and Social Assistance - - Lorem Ipsum Jan 0000
Retailer - $9.99 Lorem Ipsum Jan 0000
Arts, Entertainment, and Recreation - - Lorem Ipsum Jan 0000
Rent A Center Retailer - - Lorem Ipsum Jan 0000
Retailer - - Lorem Ipsum Jan 0000

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • POSITION
  • AVAILABLE
  • 1939
  • 2,722 SF
  • Retail
  • In-Line
  • Now

Attractive retail or office space for lease in high-traffic, highly visible Sangamon Center North. Space is a 2,722 SF in-line suite located in the freestanding strip mall addition to the center. It features a large open layout with 1 restroom and a storage area. 2022 updates include 2 new HVAC units and newer paint. Great parking, visibility and clean space.

Space Size Space Use Position Available
1939 2,722 SF Retail In-Line Now

1939

Size
2,722 SF
Space Use
Retail
Position
In-Line
Available
Now

NEARBY MAJOR RETAILERS

PNC Bank
Dotty's
Ruler Foods

PROPERTY TAXES

  • Listing ID: 34712790

  • Date on Market: 2/4/2025

  • Last Updated:

  • Address: 1861-1927 E Sangamon Ave, Springfield, IL 62702