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1005 N 5th St
Springfield, IL 62702
Near North Crossing · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Signalized Corner Location
- National Credit Tenancy
- Value-Add Opportunity
- Strategic Medical & Government District Positioning
- Recent Capital Improvements
EXECUTIVE SUMMARY
Near North Crossing | 1150 N 5th St - Springfield, IL 62702
Signalized Corner Location
• 19,671 SF fee-simple shopping center on 1.88 acres at the signalized intersection of N Grand Ave & N 5th St, offering excellent visibility and access.
Strategic Medical & Government District Positioning
• Located within the Mid-Illinois Medical District, home to over 13,000 employees and 4.7 million SF of healthcare facilities.
• Just minutes from Downtown Springfield, the Illinois State Capitol, major State agency offices, and prominent Lincoln heritage sites.
National Credit Tenancy
• Anchored by Dollar Tree and Walgreens, featuring a stable, internet-resistant, service-based tenant mix.
• Long-term tenancy demonstrates strong commitment to the location.
Recent Capital Improvements
• Significant ownership investment includes:
? LED lighting upgrades
? Modernized building façade
? New monument signage
? Roof replaced (2018)
Value-Add Opportunity
• Attractive upside through:
? Leasing existing vacancy
? Increasing below-market rents
? Converting gross leases to NNN structure
Signalized Corner Location
• 19,671 SF fee-simple shopping center on 1.88 acres at the signalized intersection of N Grand Ave & N 5th St, offering excellent visibility and access.
Strategic Medical & Government District Positioning
• Located within the Mid-Illinois Medical District, home to over 13,000 employees and 4.7 million SF of healthcare facilities.
• Just minutes from Downtown Springfield, the Illinois State Capitol, major State agency offices, and prominent Lincoln heritage sites.
National Credit Tenancy
• Anchored by Dollar Tree and Walgreens, featuring a stable, internet-resistant, service-based tenant mix.
• Long-term tenancy demonstrates strong commitment to the location.
Recent Capital Improvements
• Significant ownership investment includes:
? LED lighting upgrades
? Modernized building façade
? New monument signage
? Roof replaced (2018)
Value-Add Opportunity
• Attractive upside through:
? Leasing existing vacancy
? Increasing below-market rents
? Converting gross leases to NNN structure
PROPERTY FACTS
Sale Type
Investment
Sale Condition
1031 Exchange
Property Type
Retail
Building Size
19,671 SF
Building Class
B
Year Built/Renovated
1995/2025
Price
$1,595,000
Price Per SF
$81.08
Cap Rate
8.82%
NOI
$140,696
Percent Leased
95%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.34
Lot Size
1.33 AC
Zoning
B-1 Highway Business Serv - B-1 Highway Business Service District
Frontage
450’ on N Grand Ave
AMENITIES
- Bus Line
- Corner Lot
- Pylon Sign
- Signalized Intersection
- Monument Signage
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $624,979 | |
| Land Assessment | $535,980 | Total Assessment | $1,160,959 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$535,980
Improvements Assessment
$624,979
Total Assessment
$1,160,959
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