1128 N Rutledge St - Office FOR SALE


Springfield, IL 62702
$225,000 USD
217-547-6650
1128 N Rutledge St, Springfield, IL for Sale
$225,000 USD
Office - FOR SALE
1/16
null | Request Cap Rate

NEW


1128 N Rutledge St
Springfield, IL 62702


HIGHLIGHTS

  • Well-Maintained Office Building
  • Extensive Interior + Exterior Upgrades
  • Prime Corner Location
  • Flexible Lot with Expansion Potential
  • Growing Medical District Corridor
  • Priced Well Below Fair Market Value

OVERVIEW

Coldwell Banker Commercial Devonshire Realty (CBCDR) is pleased to present this well-maintained office building located on a prominent hard-corner lot in Springfield, IL. The property is currently occupied by Two Men and a Truck, who will be relocating. The building offers 2,340 square feet of above-grade office space, featuring an open sales area with cubicles, a modular office, a well-appointed conference room, two restrooms, and a former bank vault ideal for secure storage. The 1,914-square-foot finished basement includes an open training area, a small break area, a private office, and a mechanical room. Since acquiring the property in 2019, the current owner has made significant improvements inside and out. Exterior upgrades include removal of the former bank drive-thru canopy and lanes, parking lot resurfacing and restriping, installation of new high-efficiency parking lot lights, partial roof replacement, and the addition of a rear chain-link fence. Interior updates include a remodeled conference room, modular office buildout, removal of teller lines, and new paint and flooring throughout the main level. The owner also completed several HVAC repairs during this time. The property benefits from a use variance allowing for a moving and transfer office operation with up to 12 standard box trucks. It is attractively priced given that its fair market value is $425,325.Coldwell Banker Commercial Devonshire Realty (CBCDR) is pleased to present this well-maintained office building located on a prominent hard-corner lot in Springfield, IL.

FOR SALE DETAILS

PRICE

$225,000 USD

PRICE/SF

$53 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Well-Maintained OFF Bldg on Hard Corner Lot

PROPERTY TYPE

Office

ADD'L SUBTYPES

Auto Dealership, Bank, Medical

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1979

SPRINKLERS

-

PARKING SPACES

19

LAND DETAILS

LAND ACRES

1.18 AC

LAND SF

51,401 SF

ZONING

B-1

APN/PARCEL ID

14-28.0-227-001,14-28.0-227-002

ASK ABOUT THIS PROPERTY

Blake Pryor, CCIMColdwell Banker Commercial Devonshire RealtyMore Info
217-547-6650

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Blake Pryor, CCIMColdwell Banker Commercial Devonshire RealtyMore Info
217-547-6650

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