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    608 Town Center Blvd Champaign, IL 61822

    Sponsored
    For Sale
    $2,150,000

    High-yield restaurant & development land

    Property size:
    5,800 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    339
    This exceptional Champaign, IL commercial property offers a lucrative investment opportunity. The 5,800 sq ft restaurant, situated on a major corridor connecting North Prospect shopping center and Marketplace Mall, is currently leased for five years with two five-year renewal options, generating a gross monthly rent of $7,500. The property boasts a prime location, just one block west of the new Costco within the mall complex. In addition to the thriving restaurant, the property includes nearly two acres of land, with one acre currently vacant and available for development. Plans allow for the construction of an additional 6,000 sq ft building, presenting significant expansion potential. The entire property is offered at $2,150,000. Alternatively, the vacant acre can be purchased separately for $1,100,000. This presents a unique chance to acquire a high-performing restaurant with substantial future development possibilities in a rapidly growing commercial area. The existing lease provides immediate income, while the vacant land offers significant long-term growth potential. This property is ideal for investors seeking a blend of stable income and future development upside. The location's proximity to major retail anchors ensures high visibility and strong tenant demand.

    Property Features for 608 Town Center Blvd

    General Information

    Property type
    Other commercial real estate
    Square Feet
    5,800 SF

    Building Details

    Year Built
    1999
    Property Profile Location Intelligence

    Current Use by Public Records

    Las Palmas Mexican ... Mexican Restaurant

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Accounting Firm

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

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.25197
    Latitude
    40.14312

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    FAQs

    What type of property is this?
    Commercial real estate - High-yield restaurant & development land
    Where is this commercial real estate located?
    The property is located at 608 Town Center Blvd Champaign, IL.
    What is the asking price?
    The asking price for this property is $2,150,000.
    (217) 351-1988
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    608 Town Center Blvd Champaign, IL 61822
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    Champaign, IL 61822
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    Realmo Value Estimation

    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.

    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.

    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
    608 Town Center Blvd Champaign, IL 61822
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