Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Move-in Ready Restaurant Space Available Title is generated by Realmo AI

    2506 Village Green Pl, Champaign, IL 61822

    View on Map
    Claim this Listing
    For Lease
    $17 SF/Yr $3,187/Mo (calc)

    2,250 SF restaurant space with patio and ample parking.

    Type:Retail
    Property size:
    2,250 SF
    Added:
    May 14, 2026
    Days on Market:
    20
    Last Refresh:
    May 14 at 5:48 am

    Property Features for 2506 Village Green Pl

    General Information

    Standard status
    Active
    Size
    2,250 SF
    Property subtype
    Retail

    Spaces For Lease

    at 2506 Village Green Pl Contact us

    We can help!

    Listing Contact
    Zach Wetherell

    Listing agent Zach Wetherell

    Listing office Coldwell Banker Commercial Devonshire Realty

    Listing date May 14, 2026

    Source Commercialcafe

    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 Coldwell Banker Commercial Devonshire Realty

    HighLights

    • Move‑in ready restaurant space offering 2,250 SF.
    • Enjoy a patio area perfect for outside seating.
    • Located on Village Green Place featuring a desirable 'main street' design with diagonal parking.
    • Benefit from a built‑in kitchen, restaurant seating area, and two ADA restrooms.
    • Signage opportunities available on both west and east sides of the building.
    • Ample parking available in the shared rear parking lot.

    Overview

    This property offers 2,250 square feet of move-in ready restaurant space. The suite faces Village Green Place, designed in a main street style with diagonal parking at the front. A shared parking lot located along Duncan Road provides ample parking. Signage can be installed on both the west and east sides of the building. The space has 30 feet of frontage. Interior improvements include two ADA-compliant restrooms, a kitchen, and a restaurant seating area. A patio area on the north side of the space allows for outside seating.
    Location Intelligence

    Current Use by Public Records

    The Black Bull Restaurant Restaurant

    Suggested Use

    Restaurant Real Estate Agency Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Gym & Fitness Center Pharmacy Department Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.2959816
    Latitude
    40.0819335

    Nearby Similar for Lease

    • Contact for pricing
      2,688 SF

      Downtown Champaign Commercial Space Available

      Prime 2,688 SF space in vibrant downtown Champaign.
      6 Taylor Street E, Champaign, IL 61820
      View Details
    • Contact for pricing
      2,000 SF

      Restaurant Space Near University Campus

      Turnkey restaurant space with high visibility near campus.
      209 E University Avenue, Champaign, IL 61820
      View Details
    • Contact for pricing

      Unique Commercial Unit in Champaign

      1920 SF unit with office, storage, and overhead door.
      706 BLOOMINGTON Road, Champaign, IL 61821
      View Details
    • Sponsored
      $95-$1,906/Mo
      11-1,292 SF

      IL, Champaign – N. Randolph St

      206 Randolph St, Champaign, IL 61820
      View Details
    • $10 SF/Yr
      7,616 SF

      Climate-Controlled Warehouse with Office Space

      7,616 SF flex space with warehouse and office components.
      1401 Parkland Ct, Champaign, IL 61821
      View Details
    • $10 SF/Yr
      4,000 SF

      Remodeled Office and Warehouse Space

      4,000 SF flex space with remodeled office and warehouse.
      903 Francis Dr, Champaign, IL 61821
      View Details
    • Contact for pricing

      Retail Store with Warehouse Space

      Retail store with warehouse on a busy road.
      909 W Bloomington Road, Champaign, IL 61821
      View Details
    • Contact for pricing

      Champaign Retail Space with Drive-Thru

      Retail spaces in active corridor, ideal for food service.
      902 Meijer Drive, Champaign, IL 61822
      View Details
    • $14 SF/Yr
      2,787 SF

      Champaign Workshop/Flex Space Available

      2,787 SF workshop/flex space for rent in Champaign, IL.
      803 S Neil St, Champaign, IL 61820
      View Details
    • $9 SF/Yr
      5,760 SF

      Versatile Flex Space Available

      Adaptable units suitable for office, lab, or warehouse use.
      606 N Country Fair Dr, Champaign, IL
      View Details
    • Contact for pricing
      5,708 SF

      Downtown Champaign Office Space Available

      Impressive office space in downtown Champaign with flexible suite options.
      201 N Randolph Street, Champaign, IL 61820
      View Details
    • $11 SF/Yr
      5,635 SF

      Class A Office Building

      Corporate office building with private offices, conference rooms, and parking.
      2215 Fox Dr, Champaign, IL
      View Details

    FAQs

    What type of property is this?
    Conventional restaurant - 2,250 SF restaurant space with patio and ample parking.
    Where is this conventional restaurant located?
    The property is located at 2506 Village Green Pl Champaign, IL.
    What is the lease rate?
    The lease rate is $17 SF/Yr.
    What are key features of this property?
    This property features: Move‑in ready restaurant space offering 2,250 SF.; Enjoy a patio area perfect for outside seating.; Located on Village Green Place featuring a desirable 'main street' design with diagonal parking.
    We can help!
    Listing Contact
    Zach Wetherell
    Learn More
    Request Owner's contact information
    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.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    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.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    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.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    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
    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
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2506 Village Green Pl, Champaign, IL 61822
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!