Vacant Retail Building Near
1605 N Cunningham Ave, Urbana, IL
For Sale
Contact for pricing
Vacant retail building with parking, close to I-74.
Property Size3,699 SF
Lot Size0.64 Acres
Price / SF$94.62
Days on Market1678
Property Features for 1605 N Cunningham Ave
General Information
Standard status
Size
Lot size
Property subtype
Listing Agency:
Cushman & Wakefield - OR
(503) 279-1700
Listed By:
James Lewis
(503) 279-1743
Source:
Moodyscre
Added: Apr 12, 2022
Changed: Nov 13
Last Checked: Nov 12 at 8:03AM
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 Cushman & Wakefield - OR
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This vacant building, totaling 3699 square feet, is located near I-74. Situated in the center of the block and across from 45, it is suitable for retail space. Several operating and closed stations are located within the same block. The property offers convenient access to the University of Illinois, Carle, and OSF hospitals. The floor plan is suitable for many retail users and includes on-site parking.
Key Highlights
- Excellent floor plan suitable for many retail users.
- Plenty of onsite parking.
- Convenient access to the University of Illinois, Carle, and OSF hospitals.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$31,274
Cap Rate
8.94%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$625,480
$625.5K
Cap Rate 7%
$446,771
$446.8K
Cap Rate 9%
$347,489
$347.5K
Market Conditions
NOI Build-Up for 3,699 SF
Gross rent
$48.8K $13.20/SF
− Vacancy
−$4.2K −$1.12/SF
EGI
$44.7K $12.08/SF
− OpEx
−$13.4K −$3.62/SF
NOI
$31.3K $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%
$625,480
Cap Rate 7%
$446,771
Cap Rate 9%
$347,489
Alternative Uses
Best Use
Retail
$446.8K
$390.9K – $521.2K
NOI $31,274 @ 7.0% cap · market cap 8.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$769.6K
$673.4K – $897.8K
NOI $53,869 @ 7.0% cap · market cap 15.39%
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
Location Intelligence
Trade Area within ½ mile
348
Businesses Nearby
77k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 50%
Dining 37%
Home Improvements & Furnishings 10%
Hotels & Casinos 3%
Cracker Barrel Old Country Store
Dining
23,787 visits/mo
0.3 miles
Circle K
Shops & Services
22,427 visits/mo
0.1 miles
Dollar General
Shops & Services
7,760 visits/mo
0.2 miles
Harbor Freight Tools
Home Improvements & Furnishings
7,487 visits/mo
0.2 miles
Shell
Shops & Services
5,777 visits/mo
0.1 miles
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Properties on Market for Retail space in Champaign County
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - Vacant retail building with parking, close to I-74.
Where is this retail space located?
The property is located at 1605 N Cunningham Ave Urbana, IL.
What is the asking price?
The asking price for this property is $350,000.
What are key features of this property?
This property features: Excellent floor plan suitable for many retail users.; Plenty of onsite parking.; Convenient access to the University of Illinois, Carle, and OSF hospitals.
