Twelve-Bay Self-Service Car
For Sale
Contact for pricing
2208 W Springfield Ave, Champaign, IL 61821
Block construction includes central storage, mechanical and maintenance space, plus one restroom.
Property Size7,680 SF
Price / SF$107.42
Days on Market571
Property Features for 2208 W Springfield Ave
General Information
Standard status
Active
Size
7,680 SF
Property subtype
RETAIL
Additional Details
Utilities to Site
Yes
Car Wash Bays
12
Amenities
storage room
mechanical/maintenance room
restroom
3-phase 600 amp service
Building Details
Year Built
1979
Buildings
1
Construction
block
Listing Agency:
Coldwell Banker Commercial Devonshire Realty
(217) 821-8553
Listed By:
Zach Wetherell
(217) 821-8553
Source:
Moodyscre
Added: Jan 7, 2025
Changed: Jul 31
Last Checked: Jul 31 at 6:28PM
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
Investment Insights
Based on property information with market context.
The property is a twelve-bay self-service car wash at 2208 W Springfield Ave in Champaign, Illinois. The block building was constructed in 1979 and totals 7,680 square feet. Storage, a mechanical and maintenance room, and one restroom are centrally located within the building.
The facility has 3-Phase, 600 amp electrical service. Six of the twelve bays were not operable in 2023, with all twelve bays scheduled to be operable by the end of June 2024. A cross-access parking agreement with the neighboring property at 2206 W. Springfield may be needed. The property may also be purchased together with 2206 W. Springfield Ave.
The facility has 3-Phase, 600 amp electrical service. Six of the twelve bays were not operable in 2023, with all twelve bays scheduled to be operable by the end of June 2024. A cross-access parking agreement with the neighboring property at 2206 W. Springfield may be needed. The property may also be purchased together with 2206 W. Springfield Ave.
Key Highlights
- Twelve‑bay self‑service car wash
- 7,680 SF block building constructed in 1979
- 3‑Phase, 600 amp electrical service
Financial Insights For 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 | $101.4k | $13.20 |
| − Vacancy | −$8.6k | −$1.12 |
| EGI | $92.8k | $12.08 |
| − OpEx | −$27.8k | −$3.62 |
| NOI | $64.9k | $8.45 |
7,680 SF · lease $13.20/SF/yr · vacancy 8.50% · expense 30.00%
Alternative Uses
Best Use
Specialty Retail
$1.24M
$1.08M – $1.45M
NOI $86,782 @ 7.0% cap · market cap 10.52%
Second Best
Retail
$927.6K
$811.6K – $1.08M
NOI $64,931 @ 7.0% cap · market cap 7.87%
Theoretical Best
Office A
$1.60M
$1.40M – $1.86M
NOI $111,845 @ 7.0% cap · market cap 13.56%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
825
Businesses Nearby
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self service car wash - Block construction includes central storage, mechanical and maintenance space, plus one restroom.
Where is this self service car wash located?
The property is located at 2208 W Springfield Ave Champaign, IL.
What is the asking price?
The asking price for this property is $825,000.
What are key features of this property?
This property features: Twelve‑bay self‑service car wash; 7,680 SF block building constructed in 1979; 3‑Phase, 600 amp electrical service
