Springfield, IL Retail Space for Lease
Search 21 retail listings in Springfield, IL and find helpful local stats in the Market Overview section below.
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1700 Wabash Ave, Westchester, Springfield, IL
Retail Space Rents in Springfield, IL
Rent costs for this type of commercial space depend on a variety of factors. The foremost of these is location, which will dictate how accessible a business is and how much foot traffic it gets. Other factors, such as space type and lease structure, also come into play. On average, retail space for lease in Springfield asks $15.05 per square foot.
Retail Space Lease Types in Springfield, IL
The most common type of lease agreement you’ll find here is NNN, with 17 space(s) available under this type of arrangement.
Most Common Type of Lease for Retail Buildings in Springfield, IL
- NNN 17
Average Size of Retail Space for Lease in Springfield, IL
The average size for this type of rental opportunity in Springfield is 2,500 sqft to 5,000 sqft. Currently, the local market offers 12 listing(s) within that size range. You can also search 11 listing(s) in the 1,000 sqft to 2,500 sqft range. It should be noted that spaces in this real estate category are generally specialized to cater to the needs of a particular business, so the average sizes of different retail space types can vary greatly.
Retail Space Types You Can Lease in Springfield, IL
Retail space in Springfield comes in all types, shapes, and sizes, so you have a good chance to find the right space for your business. The most common type here is listed as Restaurant and you can find 4 such space(s) available.
Restaurant spaces listed for rent here have an average size of 5,033 square feet. Retail space specialized for restaurants usually includes ample seating areas and enough room for the safe preparation of food. Restaurant spaces may be embedded in a larger mall or can be freestanding buildings.
The local market is also home to 4 space(s) listed as Street Retail. The average size you can expect to find for this category is 6,304 square feet. You’ll find street retail spaces are mostly located in urban and suburban areas that have high foot traffic. This type of space is often a great choice for smaller retailers that are looking for well-positioned points of sale.
What’s more, you can find 1 listing(s) in the Interior Retail category, currently available in the average size of 5,009 square feet. Interior retail space can accommodate a wide variety of vendors and is designed specifically to enhance the experience of the clients and to encourage them to engage with the products and services that are being offered.
Number of Retail Spaces for Lease in Springfield, IL, by Use Type
Restaurant
4
Street Retail
4
Interior Retail
1
Average Retail Listing Size in Springfield, IL, by Use Type
Restaurant
5,033 sq. ft.
Street Retail
6,304 sq. ft.
Interior Retail
5,009 sq. ft.
However, besides these popular subtypes, the market has a lot to offer for entrepreneurs looking for the right space to promote their business and get their goods to customers.
Top Locations to Lease Retail Space in Springfield, IL
In general, the most successful retail businesses are located within relatively close proximity of each other, which leads to some neighborhoods becoming famous shopping destinations. Even in the case of suburban strip malls, the simple fact that so many different products can be purchased under the same roof can encourage customers to spend more.
Westchester is your top choice for lease opportunities, as it is currently home to the highest number of listings — 9 retail space(s). The most popular space type here is Street Retail. You can find 4 such listing(s) here.
Springfield’s second most popular area is West Koke Mill, where you can find 5 retail listing(s).
Twin Lakes is also among the best areas to search for your next commercial space. Here you can find 3 retail space(s) available for consideration by prospective tenants.
Top Locations to Lease Retail Space in Springfield, IL
Westchester
9
West Koke Mill
5
Twin Lakes
3
Pillsbury
2
Oaks
2
Key Factors to Consider When Choosing a Retail Space for Lease
When you’re looking to give your business a storefront, there are a lot of decisions to be made. The first choice is, of course, location. You’ll have to decide whether your business would operate better in the heart of the city or if it is more likely to thrive in a suburban setting.
Data based on retail spaces listed for rent on CommercialSearch.com
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