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    508 S Broadway Ave Urbana, IL 61801

    For Sale
    $1,152,375

    Well-maintained 9,251 SF office building in downtown Urbana, Illinois.

    Property size:
    9,251 SF
    Lot size:
    0.63 Acres

    Property Features for 508 S Broadway Ave

    General Information

    Size
    9,251 SF
    Lot size
    0.63 Acres

    Source: Coldwell Banker Commercial Devonshire Realty Agent AJ Thoma III

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Professional Office Building For Sale

    This professional office building is located at 508 S. Broadway Avenue in downtown Urbana, Illinois. Constructed in 1963, the 9,251 square foot building was fully renovated in 1992 for use as a law office. The building sits on a 0.63-acre site and includes 24 striped parking spaces. The property has been well-maintained.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Steve Beckett Law ... Legal Services Moore Emerson L Attorney Kearns Lindsay B Attorney Bequette Andrew W ... Lawyer

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Urbana
    County
    Champaign
    State
    Illinois
    Longitude
    -88.2067399
    Latitude
    40.1086543

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    FAQs

    What type of property is this?
    Office building - Well-maintained 9,251 SF office building in downtown Urbana, Illinois.
    Where is this office building located?
    The property is located at 508 S Broadway Ave Urbana, IL.
    What is the asking price?
    The asking price for this property is $1,152,375.
    What are key features of this property?
    This property features: - Downtown Urbana location; - Professional office building with 9,251 SF; - Benefit from 24 striped parking spaces
    (217) 520-3299
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    508 S Broadway Ave Urbana, IL 61801
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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
    508 S Broadway Ave Urbana, IL 61801
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