Retail Building with Stabilized
For Sale
$850,000
1205 S Mattis Avenue, Champaign, IL 61821
Approximately 6,200-square-foot retail building for sale with three established tenants and front and rear parking.
Property Size6,200 SF
Price / SF$137.10
Days on Market128
Property Features for 1205 S Mattis Avenue
General Information
Standard status
Active
Size
6,200 SF
Property subtype
Commercial
Amenities
front and rear parking
Building Details
Building Size
6,200 SF
Year Built
1977
Buildings
1
Tenancy
Multi
Listing Agency:
LANDMARK REAL ESTATE
(217) 352-1933
Listed By:
Rose Price · License #475122445
(217) 352-1933
Source:
Perillorealestategroup
Added: Mar 25
Changed: Jul 29
Last Checked: Jul 29 at 5:26AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of LANDMARK REAL ESTATE
Investment Insights
Based on property information with market context.
This retail commercial building is offered for sale with approximately 6,200 square feet and three established tenants in place, supporting immediate income and operational stability. The property includes both front and rear parking for convenience and access. A brand-new roof was installed in 2025.
The building is positioned on a high-visibility, high-traffic corridor in Champaign, IL.
For buyers seeking a stabilized retail asset, the completed 2025 roof improvement reduces near-term maintenance concerns while supporting long-term ownership planning.
The building is positioned on a high-visibility, high-traffic corridor in Champaign, IL.
For buyers seeking a stabilized retail asset, the completed 2025 roof improvement reduces near-term maintenance concerns while supporting long-term ownership planning.
Key Highlights
- Approximately 6,200 SF commercial retail building built in 1977
- Three established tenants in place, providing immediate rental income
- Front and rear parking for tenant and visitor convenience
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 | $81.8k | $13.20 |
| − Vacancy | −$7.0k | −$1.12 |
| EGI | $74.9k | $12.08 |
| − OpEx | −$22.5k | −$3.62 |
| NOI | $52.4k | $8.45 |
6,200 SF · lease $13.20/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$748.8K
$655.2K – $873.7K
NOI $52,419 @ 7.0% cap · market cap 6.17%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.29M
$1.13M – $1.50M
NOI $90,292 @ 7.0% cap · market cap 10.62%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
577
Businesses Nearby
Explore this area
Business Placement
Demographics for 61821, IL
29,057
Population
13,751
Households
2.1
Avg Household Size
36
Median Age
50%
College-Educated
95%
High-School Grad
7.7 sq mi
ZIP Area
3,774
Density / Sq Mi
$69,284
Median Household Income
$40,225
Median Earnings
$1,001
Median Rent
$174,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Retail space - Approximately 6,200-square-foot retail building for sale with three established tenants and front and rear parking.
Where is this retail space located?
The property is located at 1205 S Mattis Avenue Champaign, IL.
What is the asking price?
The asking price for this property is $850,000.
What are key features of this property?
This property features: Approximately 6,200 SF commercial retail building built in 1977; Three established tenants in place, providing immediate rental income; Front and rear parking for tenant and visitor convenience
