Springfield, Illinois, offers a diverse range of Retail Properties For Sale, making it an attractive investment opportunity for those looking to capitalize on the city's strong economy and rich history. As the capital city of Illinois, Springfield boasts a population of around 114,000 residents, providing a sizable customer base for retail businesses. Retail Properties in Springfield can represent a variety of investments, from small strip centers to large shopping malls, each offering unique benefits and opportunities. The city's amenities, infrastructure, location, education, and geography make it an ideal place to invest in Retail Properties. For instance, the city is home to the University of Illinois Springfield and Lincoln Land Community College, providing a steady flow of students and young professionals. Additionally, Springfield's location at the intersection of Interstate 55 and I-72 makes it easily accessible by car, and its airport offers scheduled passenger jet service to several major cities. The city's attractions, such as the Springfield Old Capitol Art Fair and the Route 66 Film Festival, also draw visitors from across the region, further enhancing the appeal of Retail Properties in Springfield.
With 9 Retail Properties For Sale in Springfield, investors have a wide range of options to choose from. The average price per square foot for Retail Properties in Springfield is $149 USD, with an average size of 12,776 square feet. The largest Retail Property available in Springfield spans 29,168 square feet. In addition to Retail Properties, Springfield also offers Shopping Centers, Restaurants, Office Properties, and Hotels For Sale. Shopping Centers in Springfield provide a convenient one-stop shopping experience for residents, while Restaurants offer a diverse range of cuisines to suit every taste. Office Properties in Springfield are ideal for businesses looking to establish a presence in the state capital, and Hotels cater to the city's many visitors. Overall, Springfield's diverse range of properties makes it an attractive destination for investors and businesses alike.
What is the average cap rate for retail properties in Springfield?
For investors seeking retail properties in Springfield, understanding the average cap rate is crucial. According to current market data, the average cap rate for retail properties in Springfield is 7.12%, which is essential to know when evaluating potential investments, and you can learn more about what is a cap rate and its significance in our article at what is a cap rate.
How do location and foot traffic affect retail property values?
In Springfield, Illinois, the location and foot traffic of retail properties significantly impact their values. For instance, properties situated near major transportation hubs like Interstate 55 and I-72, or in areas with high foot traffic such as downtown Springfield, tend to have higher values due to increased visibility and accessibility, with an average price per square foot of $149 USD and an average size of 12,776 square feet.
