Auto Shop
For Sale
$475,000
2112 N Market Street, Champaign, IL 61822
For sale automotive property at 2112 N Market Street in Champaign, located along North Market Street (IL-45).
Property Size6,249 SF
Days on Market53
Property Features for 2112 N Market Street
General Information
Standard status
Active
Size
6,249 SF
Property subtype
Business Opportunity
Taxes and HOA fees
Annual Taxes
$8,582
Amenities
Central Air
Building Details
Building Size
6,249 SF
Stories
1
Listing Agency:
Nate Evans Group
Listed By:
Nate Evans · License #475124281
(217) 493-9297
Source:
Evrealestate
Added: Jul 23
Changed: Sep 5
Last Checked: Sep 13 at 4:23AM
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 Nate Evans Group
Investment Insights
Based on property information with market context.
This for-sale automotive property at 2112 N Market Street in Champaign is suited for auto shop and related automotive uses. The asset is identified within the listings as an automotive property and retail space category, offering an established building for those seeking a purpose-built commercial footprint.
Access is provided from North Market Street (IL-45). Directions are to head north toward the Market Place Mall area, continue on North Market Street past Marketview Drive, and the property will be on the left-hand side.
The listing provides address and routing details in Champaign County and does not include additional specifications such as unit mix, improvements, or available configuration.
Access is provided from North Market Street (IL-45). Directions are to head north toward the Market Place Mall area, continue on North Market Street past Marketview Drive, and the property will be on the left-hand side.
The listing provides address and routing details in Champaign County and does not include additional specifications such as unit mix, improvements, or available configuration.
Key Highlights
- Automotive property for sale at 2112 N Market St in Champaign (County: Champaign)
- Located along North Market Street (IL‑45)
- Central air conditioning
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
$28,862
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
6.08%
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%
$577,240
$577.2K
Cap Rate 7%
$412,314
$412.3K
Cap Rate 9%
$320,689
$320.7K
Market Conditions
NOI Build-Up for 6,249 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
$43.5K $6.96/SF
− Vacancy
−$2.3K −$0.36/SF
EGI
$41.2K $6.60/SF
− OpEx
−$12.4K −$1.98/SF
NOI
$28.9K $4.62/SF
Area
Champaign County, IL
Vacancy
5.20%
Lease Rate
$6.96 /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%
$577,240
Cap Rate 7%
$412,314
Cap Rate 9%
$320,689
Alternative Uses
Best Use
Retail
$754.8K
$660.4K – $880.6K
NOI $52,833 @ 7.0% cap · market cap 11.12%
Second Best
Industrial
$412.3K
$360.8K – $481.0K
NOI $28,862 @ 7.0% cap · market cap 6.08%
Theoretical Best
Office A
$1.30M
$1.14M – $1.52M
NOI $91,005 @ 7.0% cap · market cap 19.16%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
573
Businesses Nearby
129k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 73%
Office Supplies 15%
Apparel 11%
Shops & Services 1%
Costco Wholesale
Superstores
94,362 visits/mo
0.5 miles
Office Depot
Office Supplies
19,225 visits/mo
0.1 miles
JCPenney
Apparel
13,757 visits/mo
0.4 miles
U-Haul
Shops & Services
853 visits/mo
0.4 miles
Extra Space Storage
Shops & Services
454 visits/mo
0.2 miles
Demographics for 61822, IL
25,091
Population
11,923
Households
2.1
Avg Household Size
38
Median Age
58%
College-Educated
96%
High-School Grad
107.2 sq mi
ZIP Area
234
Density / Sq Mi
$97,044
Median Household Income
$55,385
Median Earnings
$1,265
Median Rent
$264,600
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
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Similar Off Market Nearby
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- Altorfer CAT Rental - Urbana, IL — 1519 W Kenyon Rd, Urbana, IL 61801
- Valvoline — 501 W Marketview Dr, Champaign, IL 61822
- Marketview Carwash — 501 W Marketview Dr, Champaign, IL 61822
Frequently Asked Questions
What type of property is this?
Auto shop - For sale automotive property at 2112 N Market Street in Champaign, located along North Market Street (IL-45).
Where is this auto shop located?
The property is located at 2112 N Market Street Champaign, IL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: Automotive property for sale at 2112 N Market St in Champaign (County: Champaign); Located along North Market Street (IL‑45); Central air conditioning
