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 Market1044
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
(309) 590-7900
Listed By:
Carrie Tinucci-Troll · License #475166842
(331) 452-6860
Source:
Moodyscre
Added: Dec 20, 2023
Changed: Oct 25
Last Checked: Oct 28 at 11:39AM
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
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
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
Estimated NOI and Cap Rate
NOI / Yr
$26,746
Cap Rate
5.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$534,920
$534.9K
Cap Rate 7%
$382,086
$382.1K
Cap Rate 9%
$297,178
$297.2K
Market Conditions
NOI Build-Up for 2,367 SF
Gross rent
$37.8K $15.96/SF
− Vacancy
−$2.1K −$0.89/SF
EGI
$35.7K $15.07/SF
− OpEx
−$8.9K −$3.77/SF
NOI
$26.7K $11.30/SF
Area
Champaign County, IL
Vacancy
5.60%
Lease Rate
$15.96 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$534,920
Cap Rate 7%
$382,086
Cap Rate 9%
$297,178
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.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,989
Businesses Nearby
6k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Dollar General
Shops & Services
5,553 visits/mo
0.5 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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
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
