1905 N Neil St, Champaign, IL
5,200 SF building with drive-thru on 1.52 acres.
- Added:
- Feb 18, 2025
- Days on Market:
- 483
- Last Refresh:
- May 20 at 8:29 pm
Property Features for 1905 N Neil St
General Information
- Standard status
- Active
- Size
- 5,200 SF
- Lot size
- 1.51 Acres
- Property subtype
- RETAIL
Listing agent Richard Harrington
Listing office Coldwell Banker Commercial Devonshire Realty (217) 352-7712
Listing date Feb 18, 2025
Source Moodyscre
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HighLights
- Prime 1.52 acre site directly across from Market Place Mall.
- 5,200 SF freestanding single‑tenant building (former restaurant) with drive‑thru.
- Ample parking.
- Highly visible location among one of Champaign’s most popular shopping destinations.
- Less than one mile from Interstate 74.
- Tenant Improvement packages can be offered for qualified tenants.
Overview
Local Financial Insights For Specialty 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 | $83.0k | $15.96 |
| − Vacancy | −$4.6k | −$0.89 |
| EGI | $78.3k | $15.07 |
| − OpEx | −$19.6k | −$3.77 |
| NOI | $58.8k | $11.30 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Champaign
- County
- Champaign
- State
- Illinois
- Longitude
- -88.246
- Latitude
- 40.093