Building Details

Year Built 1999

Listing Agency: GUTH & ASSOCIATES,LLC

Listed By: Jill Guth · License #471020488 Show Phone

Source: Liveliferealty

Added: Aug 6 Changed: Oct 3 Last Checked: Oct 7 at 1:10PM

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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 GUTH & ASSOCIATES,LLC

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$50,800

Cap Rate

7.01%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,016,000 $1.0M

Cap Rate 7%

$725,714 $725.7K

Cap Rate 9%

$564,444 $564.4K

Market Conditions

NOI Build-Up for 4,312 SF

Gross rent

$90.6K $21.00/SF

− Vacancy

−$5.9K −$1.37/SF

EGI

$84.7K $19.64/SF

− OpEx

−$33.9K −$7.85/SF

NOI

$50.8K $11.78/SF

Area

Champaign County, IL

Vacancy

6.50%

Lease Rate

$21.00 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,016,000

Cap Rate 7%

$725,714

Cap Rate 9%

$564,444

Alternative Uses

Best Use

Healthcare Medical

$725.7K

$635.0K – $846.7K (±1% cap)

NOI $50,800 @ 7.0% cap · market cap 7.01%

Second Best

Office B

$627.0K

$548.7K – $731.5K (±1% cap)

NOI $43,892 @ 7.0% cap · market cap 6.05%

Theoretical Best

Office A

$897.1K

$785.0K – $1.05M (±1% cap)

NOI $62,797 @ 7.0% cap · market cap 8.66%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Current Use

Chifan Cheng D.D.S./Vickie ... Dental Office J. Barry Howell, ... Dental Office Sunnycrest Dental Clinic Dental Office Ehmen Laura Dental Office Halberstadt Denise Dental Office

Suggested Use

Top Pick Real Estate Agency Restaurant Building Supply Auto Repair Shop Big Box & Wholesale Store Dental Office

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

473

Businesses Nearby

Balanced

Demand for This Use

Explore this area Business Placement

Demographics for 61801, IL

27,658

Population

13,468

Households

2.1

Avg Household Size

26

Median Age

65%

College-Educated

98%

High-School Grad

5.4 sq mi

ZIP Area

5,122

Density / Sq Mi

$37,948

Median Household Income

$26,394

Median Earnings

$950

Median Rent

$184,000

Median Home Value

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

Questions? Ask Rey

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What type of property is this? Where is this medical office space located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

Where is this medical office space located?

The property is located at 1209 E Colorado Ave Urbana, IL.

What is the asking price?

The asking price for this property is $725,000.