Listing Agency: Coldwell Banker Commercial Devonshire Realty Show Phone

Listed By: Richard Harrington Show Phone

Source: Moodyscre

Added: Jan 6, 2025 Changed: Oct 14 Last Checked: Oct 20 at 11:10PM

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Investment Insights

Based on property information with market context.

The property is a former used-auto sales facility with a 3,168 SF building combining office and garage space. The office portion features an open floor plan, a dedicated closing room/office, and two restrooms. The garage is heated and includes four bays, each with an overhead door.

This is a for-sale flex/industrial-style building designed to support both customer-facing and service-oriented operations within the same structure.

Key Highlights

• Former used‑auto sales facility with a 3,168 SF building featuring office and garage space
• Office area includes an open floor plan, a dedicated closing room/office, and two restrooms
• Heated four‑bay garage with overhead doors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$17,421

Cap Rate

3.67%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$348,420 $348.4K

Cap Rate 7%

$248,871 $248.9K

Cap Rate 9%

$193,567 $193.6K

Is this asking price fair?

Market Conditions

NOI Build-Up for 3,168 SF

Gross rent

$28.5K $9.00/SF

− Vacancy

−$1.7K −$0.54/SF

EGI

$26.8K $8.46/SF

− OpEx

−$9.4K −$2.96/SF

NOI

$17.4K $5.50/SF

Area

Champaign County, IL

Vacancy

6.00%

Lease Rate

$9.00 /SF/Yr

Expense Ratio

35.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$348,420

Cap Rate 7%

$248,871

Cap Rate 9%

$193,567

Alternative Uses

Best Use

Flex RnD

$248.9K

$217.8K – $290.4K (±1% cap)

NOI $17,421 @ 7.0% cap · market cap 3.67%

Second Best

Industrial

$209.0K

$182.9K – $243.9K (±1% cap)

NOI $14,632 @ 7.0% cap · market cap 3.08%

Theoretical Best

Office A

$659.1K

$576.7K – $768.9K (±1% cap)

NOI $46,136 @ 7.0% cap · market cap 9.71%

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

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Advantage Auto Sales Car Dealership

Suggested Use

Top Pick Real Estate Agency Law Firm Hair Salon HVAC Service Electrical Service Gym & Fitness Center

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

837

Businesses Nearby

Under-served

Demand for This Use

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 Industrial in Midwest region

4.4% 2019

4.9% 2020

3.6% 2021

3.1% 2022

4.6% 2023

5% 2024

4.9% 2025

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Frequently Asked Questions

What type of property is this?

Flex space - Former used-auto sales facility with office space and a heated four-bay garage.

Where is this flex space located?

The property is located at 915 W Bloomington Rd Champaign, IL.

What is the asking price?

The asking price for this property is $475,000.

What are key features of this property?

This property features: Former used‑auto sales facility with a 3,168 SF building featuring office and garage space; Office area includes an open floor plan, a dedicated closing room/office, and two restrooms; Heated four‑bay garage with overhead doors