Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1504 E Colorado Ave Urbana, IL 61802

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $10 SF/Yr ($13,881 /Mo)

    Freestanding 16,000 SF retail/medical space with drive-thru.

    Property size:
    16,658 SF
    Lot size:
    1.30 Acres

    Property Features for 1504 E Colorado Ave

    General Information

    Size
    16,658 SF
    Lot size
    1.30 Acres

    Source: Coldwell Banker Commercial Devonshire Realty Agent Larry Kuchefski, CCIM

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

    Overview

    Former Pharmacy with Drive-Thru

    This former CVS Pharmacy is a freestanding commercial building offering 16,000 square feet of flexible retail or medical space. The property is situated on 1.35 acres, which comprises two parcels. A functional drive-thru pharmacy lane is included. There are 77 dedicated parking spaces, supporting a variety of high-traffic uses such as healthcare, quick-service retail, or financial services. The property features efficient interior layouts, prominent signage opportunities, and dual ingress and egress. Built to modern standards and in solid condition, the site presents a move-in ready opportunity for tenants seeking a high-quality facility with strong infrastructure. The property is currently available for sublease, offering flexible occupancy terms.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Drug stores

    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.

    Similar Places Nearby

    Drug Aaaah A Abuse Action Addi, Walgreens Pharmacy, COVID-19 Drive-Thru Testing at Walgreens, Kimberly Stangl, Meijer Pharmacy

    Location Insight

    • Map
    • Local Demand
    City
    Urbana
    County
    Champaign
    State
    Illinois
    Longitude
    -88.1896195
    Latitude
    40.0950497

    Nearby Similar for Lease

    • $5 SF/Yr
      43,560 SF

      Urbana Commercial Facility For Lease

      16,000 SF commercial facility with warehouse and office space.
      4808 N Cunningham Ave, Urbana, IL 61802
      View Details
    • $33 SF/Yr

      Office Space with Utilities Included

      Office spaces available in Urbana, IL, with utilities and WiFi.
      123 West Main St, Urbana, IL 61801
      View Details
    • $9 SF/Yr
      91,912 SF

      Urbana Commercial Property For Lease

      2.11-acre commercial property with office, shop, and covered carport.
      3809 N Cunningham Ave, Urbana, IL 61802
      View Details
    • $12 SF/Yr
      22,500 SF

      Urbana Retail Center Opportunity

      High-traffic retail space, diverse tenants.
      510 Cunningham Ave, Urbana, IL 61802
      View Details
    • $9 SF/Yr
      1,365 SF

      Retail/Office Suites Near U of I

      Two retail/office suites available near the University of Illinois campus.
      710 S Goodwin Ave, Urbana, IL 61801
      View Details
    • $12 SF/Yr
      80,000 SF

      Urbana Office Space for Lease

      Flexible office suites near UIUC
      1717 Philo Rd, Urbana, IL 61802
      View Details

    FAQs

    What type of property is this?
    Drug store - Freestanding 16,000 SF retail/medical space with drive-thru.
    Where is this drug store located?
    The property is located at 1504 E Colorado Ave Urbana, IL.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: - 16,000 sq ft freestanding building suitable for retail or medical use; - Functional drive-thru pharmacy lane; - 77 dedicated parking spaces
    (217) 918-0871
    Request Owner's contact information
    1504 E Colorado Ave Urbana, IL 61802
    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.
    1504 E Colorado Ave
    Urbana, IL 61802
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1504 E Colorado Ave Urbana, IL 61802
    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
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.