Transmission Repair Business and
For Sale
$575,000
1519 N Willis Ave, Champaign, IL 61821
Well-equipped auto shop with established business for sale.
Property Size4,510 SF
Price / SF$127.49
Days on Market270
Property Features for 1519 N Willis Ave
General Information
Standard status
Active
Size
4,510 SF
Property subtype
Industrial
Building Details
Building Size
4,510 SF
Year Built
1995
Listing Agency:
(217) 649-8473
Listed By:
Jeffrey Kurtz
Source:
Svn
Added: Nov 21, 2025
Changed: Aug 11
Last Checked: Aug 17 at 4:32AM
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 Jeffrey Kurtz
Investment Insights
Based on property information with market context.
This offering includes both the business and property, presenting an opportunity due to the owner's planned retirement. The business is a transmission repair service with a trusted reputation. The property is a versatile 4,510 square foot facility situated on a 1.3-acre lot, offering potential for expansion or additional services. The shop includes four service bays and hydraulic lifts, facilitating efficiency and growth. The facility is well-equipped with parts storage, an office, and a locker room. The property is located near I-74, providing convenient customer access. The location in an opportunity zone, TIF, and enterprise zone offers potential tax incentives and benefits. The area surrounding the property is near the University of Illinois, and the vibrant downtown area offers dining and entertainment options. The property also enjoys easy access to major transportation routes. The average revenue for the previous 4 years is $706,000. This property is suited for an investor or owner-operator looking to expand in the auto service industry.
Key Highlights
- Established transmission repair business with a respected reputation and average revenue of $706,000 for the previous 4 years.
- Prime location near I‑74, providing easy access for customers and suppliers.
- Versatile 4,510 SF facility on a large 1.3‑acre lot with expansion potential.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$38,130
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.63%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$762,600
$762.6K
Cap Rate 7%
$544,714
$544.7K
Cap Rate 9%
$423,667
$423.7K
Market Conditions
NOI Build-Up for 4,510 SF
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.
Gross rent
$59.5K $13.20/SF
− Vacancy
−$5.1K −$1.12/SF
EGI
$54.5K $12.08/SF
− OpEx
−$16.3K −$3.62/SF
NOI
$38.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$762,600
Cap Rate 7%
$544,714
Cap Rate 9%
$423,667
Alternative Uses
Best Use
Retail
$544.7K
$476.6K – $635.5K
NOI $38,130 @ 7.0% cap · market cap 6.63%
Second Best
Industrial
$297.6K
$260.4K – $347.2K
NOI $20,830 @ 7.0% cap · market cap 3.62%
Theoretical Best
Office A
$938.3K
$821.0K – $1.09M
NOI $65,680 @ 7.0% cap · market cap 11.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
667
Businesses Nearby
Well-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 Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Similar Off Market Nearby
- JC TIRES AFTER HOURS — 1217 W Eureka St, Champaign, IL 61821
- Jiffy Lube — 1201 N Prospect Ave, Champaign, IL 61820
- Car-X Tire & Auto — 906 W Bradley Ave, Champaign, IL 61821
- Average Joe Auto Repair — 1001 W Bradley Ave, Champaign, IL 61821
- Apollo Auto — 706 W Bradley Ave Ste A, Champaign, IL 61820
Frequently Asked Questions
What type of property is this?
Auto shop - Well-equipped auto shop with established business for sale.
Where is this auto shop located?
The property is located at 1519 N Willis Ave Champaign, IL.
What is the asking price?
The asking price for this property is $575,000.
What are key features of this property?
This property features: Established transmission repair business with a respected reputation and average revenue of $706,000 for the previous 4 years.; Prime location near I‑74, providing easy access for customers and suppliers.; Versatile 4,510 SF facility on a large 1.3‑acre lot with expansion potential.
