Corner Retail Convenience
For Sale
Contact for pricing
301 S Murray Rd, Rantoul, IL 61866
Former gas station and convenience store building on a corner lot, zoned C-2, offering 2,682 SF for redevelopment.
Property Size2,682 SF
Lot Size0.71 Acres
Price / SF$111.86
Days on Market1691
Property Features for 301 S Murray Rd
General Information
Standard status
Active
Size
2,682 SF
Lot size
0.71 Acres
Property subtype
LAND
Zoning
C-2
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: Mar 14, 2022
Changed: Oct 25
Last Checked: Oct 28 at 11:29AM
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 and convenience store includes a 2,682 SF building on a corner lot. The property sits on 0.71 acres and is zoned C-2, providing a straightforward framework for appropriate redevelopment or reuse within the zoning parameters.
The site is located at the southeast corner of the intersection of S. Murray Road and W. Champaign Ave, just minutes from Interstate 57. It is positioned to serve the surrounding mix of restaurants and businesses, with access to the traffic patterns created by the intersection and nearby interstate.
The property’s configuration includes a primary retail/convenience-style building footprint on the corner, suited for buyers looking for a C-2 zoned redevelopment asset in an established commercial area.
The site is located at the southeast corner of the intersection of S. Murray Road and W. Champaign Ave, just minutes from Interstate 57. It is positioned to serve the surrounding mix of restaurants and businesses, with access to the traffic patterns created by the intersection and nearby interstate.
The property’s configuration includes a primary retail/convenience-style building footprint on the corner, suited for buyers looking for a C-2 zoned redevelopment asset in an established commercial area.
Key Highlights
- Former gas station and convenience store building with 2,682 SF on a corner lot at S. Murray Road and W. Champaign Ave.
- 0.71‑acre site at the southeast corner of S. Murray Road and W. Champaign Ave.
- Zoned C‑2 for redevelopment at the property.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,675
Cap Rate
7.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$453,500
$453.5K
Cap Rate 7%
$323,929
$323.9K
Cap Rate 9%
$251,944
$251.9K
Market Conditions
NOI Build-Up for 2,682 SF
Gross rent
$35.4K $13.20/SF
− Vacancy
−$3.0K −$1.12/SF
EGI
$32.4K $12.08/SF
− OpEx
−$9.7K −$3.62/SF
NOI
$22.7K $8.45/SF
Area
Champaign County, IL
Vacancy
8.50%
Lease Rate
$13.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$453,500
Cap Rate 7%
$323,929
Cap Rate 9%
$251,944
Alternative Uses
Best Use
Specialty Retail
$432.9K
$378.8K – $505.1K
NOI $30,306 @ 7.0% cap · market cap 10.10%
Second Best
Retail
$323.9K
$283.4K – $377.9K
NOI $22,675 @ 7.0% cap · market cap 7.56%
Theoretical Best
Office A
$558.0K
$488.2K – $651.0K
NOI $39,059 @ 7.0% cap · market cap 13.02%
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
120
Businesses Nearby
135k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 63%
Superstores 34%
Shops & Services 2%
Electronics 1%
Walmart
Superstores
45,414 visits/mo
0.3 miles
McDonald's
Dining
25,436 visits/mo
0.0 miles
Arby's
Dining
13,474 visits/mo
0.1 miles
Taco Bell
Dining
11,456 visits/mo
0.1 miles
Starbucks
Dining
11,449 visits/mo
0.1 miles
Demographics for 61866, IL
13,459
Population
6,280
Households
2.1
Avg Household Size
37
Median Age
13%
College-Educated
91%
High-School Grad
80.0 sq mi
ZIP Area
168
Density / Sq Mi
$51,389
Median Household Income
$38,439
Median Earnings
$892
Median Rent
$111,900
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 and convenience store building on a corner lot, zoned C-2, offering 2,682 SF for redevelopment.
Where is this gas station located?
The property is located at 301 S Murray Rd Rantoul, IL.
What is the asking price?
The asking price for this property is $300,000.
What are key features of this property?
This property features: Former gas station and convenience store building with 2,682 SF on a corner lot at S. Murray Road and W. Champaign Ave.; 0.71‑acre site at the southeast corner of S. Murray Road and W. Champaign Ave.; Zoned C‑2 for redevelopment at the property.
