Renovated Downtown Retail
110 W Main Street Urbana, IL 61801
For Sale
$459,900
COMMERCIAL - Urbana, IL
Property Size2,280 SF
Price / SF$201.71
Days on Market309
Property Features for 110 W Main Street
General Information
- Property type
- Commercial Sale
- Property subtype
- Retail
- Zoning
- RTAIL
- Standard status
- Active
- APN
- 922117202023
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- MAIN STREET CONDO.
- Tax Annual Amount
- 15241
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1870
- Floors in Building
- 2
Listing Agency:
KELLER WILLIAMS-TREC
(217) 356-6100
Listed By:
Mark Panno · License #475164947
(217) 356-6100
Added: Sep 18, 2025
Changed: Jul 9
Last Checked: Jul 23 at 6:06PM
MLS# 12472502
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This renovated retail condominium offers a functional two-level layout with approximately 2,280 square feet on the first floor and 5,280 square feet in the basement. The first floor features hardwood floors and high ceilings, along with abundant southern storefront windows that bring in natural light. Renovations were completed between 2015 and 2017, and the property is presented as a condominium suitable for a variety of commercial uses.
The property is located at 110 W Main Street in Downtown Urbana, Illinois. The space is described as being within B4 zoning, supporting a broad mix of potential business types.
From a tenant or owner-operator standpoint, the building’s street-level retail presence and interior flexibility can support retail and service concepts, including office use, medical or dentist office, restaurant, art studio, spa, grocery, dry cleaning, or fitness center, as well as other business formats consistent with the stated zoning. The combination of a prominent first floor and substantial basement area can allow for customer-facing operations with additional room for storage, back-of-house, or operational space, depending on the intended use.
The property is located at 110 W Main Street in Downtown Urbana, Illinois. The space is described as being within B4 zoning, supporting a broad mix of potential business types.
From a tenant or owner-operator standpoint, the building’s street-level retail presence and interior flexibility can support retail and service concepts, including office use, medical or dentist office, restaurant, art studio, spa, grocery, dry cleaning, or fitness center, as well as other business formats consistent with the stated zoning. The combination of a prominent first floor and substantial basement area can allow for customer-facing operations with additional room for storage, back-of-house, or operational space, depending on the intended use.
Key Highlights
- Downtown Urbana retail condominium space with 2,280 SF on the first floor plus 5,280 SF basement
- Renovated between 2015–2017 with first‑floor hardwood floors and high ceilings
- Central air cooling
Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $30.1k | $13.20 |
| − Vacancy | −$2.6k | −$1.12 |
| EGI | $27.5k | $12.08 |
| − OpEx | −$8.3k | −$3.62 |
| NOI | $19.3k | $8.45 |
2,280 SF · lease $13.20/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$275.4K
$241.0K – $321.3K
NOI $19,276 @ 7.0% cap · market cap 4.19%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$474.3K
$415.1K – $553.4K
NOI $33,204 @ 7.0% cap · market cap 7.22%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Pixo
Marketing & Advertising
PixoVIN
Auto Repair Shop
FAQs
What type of property is this?
Retail space - Two-story retail condominium with renovated interiors, hardwood flooring, and storefront windows for a range of street-facing businesses.
Where is this retail space located?
The property is located at 110 W Main Street Urbana, IL.
What is the asking price?
The asking price for this property is $459,900.
What are key features of this property?
This property features: Downtown Urbana retail condominium space with 2,280 SF on the first floor plus 5,280 SF basement; Renovated between 2015–2017 with first‑floor hardwood floors and high ceilings; Central air cooling
