Former Gas Station with
For Sale
Contact for pricing
601 N Neil St, Champaign, IL 61820
Former gas station property featuring a 2,367 SF building on a large lot with ample parking.
Property Size2,367 SF
Lot Size0.50 Acres
Price / SF$200.68
Days on Market953
Property Features for 601 N Neil St
General Information
Standard status
Active
Size
2,367 SF
Lot size
0.50 Acres
Property subtype
LAND
Additional Details
Highway Access
Yes
Listing Agency:
SVN | Core 3
(331) 452-6860
Listed By:
Carrie Tinucci-Troll · License #IL475166842
(331) 452-6860
Source:
Moodyscre
Added: Dec 20, 2023
Changed: Jul 26
Last Checked: Jul 29 at 2:22PM
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 SVN | Core 3
Investment Insights
Based on property information with market context.
This former gas station property includes an existing 2,367 SF building set on a large lot with ample parking. The site is designed for straightforward vehicle access and offers a commercial building footprint for adaptable uses.
The property is located just minutes from Interstate 74, downtown Champaign, and the University of Illinois, placing it in close reach of daily activity from residents and visitors.
SVN Core 3 Commercial is offering the opportunity for buyers to review the site’s restrictions and determine the best fit for the surrounding residential neighborhoods and the area’s regular traffic.
The property is located just minutes from Interstate 74, downtown Champaign, and the University of Illinois, placing it in close reach of daily activity from residents and visitors.
SVN Core 3 Commercial is offering the opportunity for buyers to review the site’s restrictions and determine the best fit for the surrounding residential neighborhoods and the area’s regular traffic.
Key Highlights
- Former gas station property with a 2,367 SF building
- Large lot with ample parking
- Minutes from Interstate 74, downtown Champaign, and the University of Illinois
Financial Insights For Specialty 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 | $37.8k | $15.96 |
| − Vacancy | −$2.1k | −$0.89 |
| EGI | $35.7k | $15.07 |
| − OpEx | −$8.9k | −$3.77 |
| NOI | $26.7k | $11.30 |
2,367 SF · lease $15.96/SF/yr · vacancy 5.60% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$382.1K
$334.3K – $445.8K
NOI $26,746 @ 7.0% cap · market cap 5.63%
Second Best
Retail
$285.9K
$250.2K – $333.5K
NOI $20,012 @ 7.0% cap · market cap 4.21%
Theoretical Best
Office A
$492.4K
$430.9K – $574.5K
NOI $34,471 @ 7.0% cap · market cap 7.26%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
20k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Office Supplies 96%
Shops & Services 4%
Office Depot
Office Supplies
19,225 visits/mo
0.4 miles
U-Haul
Shops & Services
853 visits/mo
0.3 miles
Demographics for 61820, IL
40,822
Population
18,672
Households
2.2
Avg Household Size
25
Median Age
55%
College-Educated
93%
High-School Grad
5.9 sq mi
ZIP Area
6,919
Density / Sq Mi
$31,031
Median Household Income
$14,828
Median Earnings
$1,077
Median Rent
$175,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Gas station - Former gas station property featuring a 2,367 SF building on a large lot with ample parking.
Where is this gas station located?
The property is located at 601 N Neil St 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 gas station property with a 2,367 SF building; Large lot with ample parking; Minutes from Interstate 74, downtown Champaign, and the University of Illinois
