Add Listing
    Brokers
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    (217) 373-4964
    Web Site
    Size: 10+ agents

    Agents

    Service Locations

    Property Types

    • Residential Multi Family
    • Commercial Sale
    • Land
    • Commercial Lease

    Listings

    For Sale (20)

    View map
    Lakefront Acreage in Lakewood Estates
    $115,000
    8.15 Acres

    Lakefront Acreage in Lakewood Estates

    8.15 acres on Beaver Lake, ideal for building a home.

    DOR1701B Henning Rd, Danville, IL 61834
    View details
    Vacant Lot in Thomasboro, IL
    $42,000
    0.40 Acres

    Vacant Lot in Thomasboro, IL

    Build-ready lot with utilities and new garage roof.

    704 W Fredrick St, Thomasboro, IL 61878
    View details
    Prime Commercial Lot in Savoy
    $125,000
    0.33 Acres

    Prime Commercial Lot in Savoy

    Last available lot in a thriving Savoy commercial area.

    103 Calvin St, Savoy, IL 61874
    View details
    Savoy, IL Commercial Development Land
    $450,000
    1.97 Acres

    Savoy, IL Commercial Development Land

    1.97-acre commercial parcel in high-growth Savoy corridor.

    612 Clarendon Ct, Savoy, IL 61874
    View details
    Bement, IL - Historic Church
    $199,000

    Bement, IL - Historic Church

    Timeless brick church with architectural character and endless potential.

    332 S Macon St, Bement, IL 61813
    View details
    Champaign Land For Sale
    $225,000
    2.08 Acres

    Champaign Land For Sale

    2.31-acre lot in Interstate Research Park, northwest Champaign.

    1504 Newton Dr, Champaign, IL 61822
    View details
    Commercial Property with Residential Home
    $1,250,000
    7,800 SF

    Commercial Property with Residential Home

    10-acre commercial property with income, residential home, expansion potential.

    3612 W Bloomington Rd, Champaign, IL 61822
    View details
    Residential Lot Near University
    Contact for pricing
    0.17 Acres

    Residential Lot Near University

    Residential lot suitable for building a single-family home or duplex.

    1007 N Goodwin Ave, Urbana, IL 61801
    View details
    Urbana Commercial Property for Sale
    $149,900
    0.32 Acres

    Urbana Commercial Property for Sale

    Commercial property with potential for redevelopment in Urbana, Illinois.

    507 Crystal Lake Dr, Urbana, IL 61802
    View details
    Urbana Land For Sale
    $599,000
    1.08 Acres

    Urbana Land For Sale

    Commercial land available in Urbana, Illinois.

    402 W Griggs St, Urbana, IL 61801
    View details
    Urbana Homesite in Green Subdivision
    $150,000
    0.88 Acres

    Urbana Homesite in Green Subdivision

    0.88 acre homesite in sustainable living neighborhood.

    3002 N Brickhouses Rd, Urbana, IL 61802
    View details
    St. Joseph Acreage for Development
    $59,500
    1.25 Acres

    St. Joseph Acreage for Development

    1.25 acre lot near St. Joseph and Champaign.

    2210 Homer Lake Rd, Saint Joseph, IL 61873
    View details
    Waterfront Residential Lot
    $199,900
    1.13 Acres

    Waterfront Residential Lot

    Build a custom home on a waterfront homesite in the Thornewood Subdivision with water views and ample space.

    1114 Willow Grove Ln, Mahomet, IL 61853
    View details
    Residential Lot in Stone Creek
    $75,000
    0.25 Acres

    Residential Lot in Stone Creek

    Build your dream home in Urbana's prestigious Stone Creek.

    2721 E Stone Creek Blvd, Urbana, IL 61802
    View details
    Lakefront Acreage in Danville, Illinois
    Contact for pricing
    1.92 Acres

    Lakefront Acreage in Danville, Illinois

    1.92 acres on Beaver Lake in Lakewood Estates.

    DOR1701G Hungry Hollow Rd, Danville, IL 61834
    View details
    Historic Storefront in Downtown Danville
    $135,000
    0.08 Acres

    Historic Storefront in Downtown Danville

    Preserved historic storefront with modern functionality in downtown Danville.

    57 N Vermilion St, Danville, IL 61832
    View details
    Updated Retail Storefront Property
    $79,900
    0.47 Acres

    Updated Retail Storefront Property

    Updated brick storefront on an extra-deep lot with flexible space suited for retail or multiple business concepts.

    4 N Bourne St, Tolono, IL 61880
    View details
    Urbana Multifamily Investment Opportunity
    $410,000
    0.24 Acres

    Urbana Multifamily Investment Opportunity

    Fully leased 5-unit building with parking and coin laundry.

    212 W High St, Urbana, IL 61801
    View details
    Land Available in Urbana, Illinois
    $599,000

    Land Available in Urbana, Illinois

    Land for sale at 402 W Griggs Street, Urbana.

    402 W Griggs St, Urbana, IL 61801
    View details
    Waterfront Residential Land Lot
    $115,000

    Waterfront Residential Land Lot

    Waterfront land on Beaver Lake on a corner lot, offering a straightforward site for a future home or retreat.

    DOR1701B Henning Rd, Danville, IL 61834
    View details

    For Lease (1)

    View map
    Versatile Commercial Space in Homer
    Contact for pricing

    Versatile Commercial Space in Homer

    Adaptable commercial space suitable for retail, office, or storefront.

    307 E 2Nd St, Homer, IL 61849
    View details

    Leases and Sales on Map

    • For Sale
    • For Lease

    Properties for sale

    View other agents
    in the same area
    Request Owner's contact information
    RE/MAX Realty Associate
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    RE/MAX Realty Associate
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!