Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    2133 S Neil Street Champaign, IL 61820

    View on Map
    For Lease
    Contact for pricing

    COMMERCIAL - Champaign, IL

    Type:Retail
    Property size:
    1,600 SF
    Lot size:
    5.41 Acres
    Added:
    Feb 2, 2026
    Days on Market:
    58
    Last Refresh:
    Apr 1 at 12:06 pm

    Property Features for 2133 S Neil Street

    General Information

    Property type
    Commercial Lease
    Property subtype
    Retail
    Zoning
    COMMR
    Standard status
    Active
    Size
    1,600 SF
    Lot size
    5.41 Acres

    Taxes and HOA fees

    TaxYear
    2022
    TaxDescription
    2020R01597
    TaxAnnualAmount
    5219

    Utilities

    Cooling system
    Central Air

    Building Details

    Floors in Building
    1

    We can help!

    Listing Contact
    Shannon Collins
    Shannon Collins

    Listing agent Shannon Collins License #ILLINOIS475.178418

    Listing office Green Street Realty 510 S. Neil St., Champaign, IL

    Listing date Feb 2, 2026

    MLS# 12559170

    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.

    Overview

    Turnkey Restaurant Space in Champaign

    This turnkey restaurant space, previously a quick service restaurant, is available for rent. The 1,600 square foot space features both indoor and outdoor dine-in seating. Situated in a prime retail shopping center in Champaign, Illinois, the location is near Memorial Stadium and State Farm Center, providing a constant flow of customer traffic. Ample, well-lit parking is available. The property is located at 2133 S Neil Street, Champaign, IL 61820, in Champaign County. The lot size is 5.4127 acres. The zoning is COMMR. This presents an opportunity to establish a restaurant in a high-traffic area.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    VisionPoint Eye Center Ophthalmologist Dr. Catharine Crockett Ophthalmologist

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.2481162
    Latitude
    40.0880521

    Nearby Similar for Lease

    • Contact for pricing

      Downtown Champaign Commercial Space Available

      Prime 2,688 SF space in vibrant downtown Champaign.
      6 Taylor Street E, Champaign, IL 61820
      View Details
    • Contact for pricing

      Downtown Champaign Office Space Available

      Impressive office space in downtown Champaign with flexible suite options.
      201 N Randolph Street, Champaign, IL 61820
      View Details
    • Contact for pricing

      Versatile Office or Retail Suite

      Prime Champaign location with flexible office or retail space.
      502 W Clark Street unit: 100, Champaign, IL 61820
      View Details
    • Contact for pricing

      Unique Commercial Unit in Champaign

      1920 SF unit with office, storage, and overhead door.
      706 BLOOMINGTON Road unit: 101, Champaign, IL 61821
      View Details
    • Contact for pricing

      Retail Store with Warehouse Space

      Retail store with warehouse on a busy road.
      909 W Bloomington Road, Champaign, IL 61821
      View Details
    • Contact for pricing

      Champaign Retail Space with Drive-Thru

      Retail spaces in active corridor, ideal for food service.
      902 Meijer Drive, Champaign, IL 61822
      View Details
    • Contact for pricing

      Champaign Flex Space with Amenities

      30x60 flex space with HVAC and overhead doors for sublease.
      311 S Staley Road unit: E, Champaign, IL 61822
      View Details
    • Sponsored
      Contact for pricing

      IL, Champaign – N. Randolph St

      206 Randolph St, Champaign, IL 61820
      View Details
    • $9/mo

      Versatile Flex Space Available

      Adaptable units suitable for office, lab, or warehouse use.
      606 N Country Fair Dr, Champaign, IL
      View Details
    • $11/mo

      Class A Office Building

      Corporate office building with private offices, conference rooms, and parking.
      2215 Fox Dr, Champaign, IL
      View Details
    • Contact for pricing

      Office & Warehouse Rental Property

      Office and warehouse spaces available for lease in Champaign, IL.
      510 S Staley Rd, Champaign, IL
      View Details
    • Contact for pricing

      Downtown Champaign Retail/Office Space

      First floor commercial space in downtown Champaign for lease.
      105 S Walnut Street unit: 102, Champaign, IL 61820
      View Details

    FAQs

    What type of property is this?
    Turn key restaurant - Turnkey restaurant space in prime retail center near Memorial Stadium.
    Where is this turn key restaurant located?
    The property is located at 2133 S Neil Street Champaign, IL.
    What are key features of this property?
    This property features: Turnkey restaurant space ready for immediate operation.; Prime location in a Champaign, IL retail shopping center.; High customer traffic area near Memorial Stadium and State Farm Center.
    (217) 356-8750
    We can help!
    Listing Contact
    Shannon Collins
    Shannon Collins
    Real Estate License ID: ILLINOIS475.178418
    Learn More
    Request Owner's contact information
    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
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!