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    Champaign Industrial/Flex Space Investment

    2602 N Mattis Ave Champaign, IL 61822

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    For Sale
    Contact for pricing

    Two buildings totaling 26,456 SF with 100% occupancy.

    Type:Industrial
    Property size:
    26,456 SF
    Price / SF:
    $54.81/SF
    Added:
    Jul 11, 2024
    Days on Market:
    734
    Last Refresh:
    May 12 at 9:00 pm

    Property Features for 2602 N Mattis Ave

    General Information

    Standard status
    Active
    Size
    26,456 SF
    Property subtype
    Industrial

    Listing office Ramshaw Real Estate, Inc.

    Listing date Jul 11, 2024

    Source Crexi

    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 Ramshaw Real Estate, Inc.

    Investment Insights

    Based on property information with market context.

    Located in northwest Champaign, Illinois, this property features two buildings with a total area of 26,456 square feet. The property is currently 100% occupied. It is suitable for industrial or flex space investment. The property includes ample parking and multiple overhead doors.

    Key Highlights

    • 100% Occupancy: Provides immediate income
    • Prime Investment Opportunity: Valuable asset in Champaign, IL
    • Total of 26,456 SF of industrial/flex space

    Local Financial Insights For Industrial

    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 $184.1k $6.96
    − Vacancy −$9.6k −$0.36
    EGI $174.6k $6.60
    − OpEx −$52.4k −$1.98
    NOI $122.2k $4.62
    26,456 SF · lease $6.96/SF/yr · vacancy 5.20% · expense 30.00%

    Alternative Uses

    Best Use
    Flex RnD
    $2.08M
    $1.82M – $2.42M (±1% cap)
    NOI $145,482 @ 7.0% cap · market cap 10.03%
    Second Best
    Industrial
    $1.75M
    $1.53M – $2.04M (±1% cap)
    NOI $122,191 @ 7.0% cap · market cap 8.43%
    Theoretical Best
    Office A
    $5.50M
    $4.82M – $6.42M (±1% cap)
    NOI $385,284 @ 7.0% cap · market cap 26.57%
    Zoning and permitted uses should be independently verified with local authorities.

    Property Analytics

    Property Profile Location Intelligence

    Current Use by Public Records

    Auto Club Detailing Car Wash Perfect Touch AutoRepair Auto Repair Shop Crossroads Contractor Supply Building Supply Ross Racing Enterprises Auto Parts Store MYST AUTO CHAMPAIGN Car Dealership

    Suggested Use

    Real Estate Agency Dental Office Hair Salon Building Supply Gym & Fitness Center Parking Lot & Garage Cafe & Coffee Shop (Bike/Boat/Book/etc) Store Law Firm Veterinary Clinic

    Zoning and permitted uses should be independently verified with local authorities.

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    FAQs

    What type of property is this?
    Flex space - Two buildings totaling 26,456 SF with 100% occupancy.
    Where is this flex space located?
    The property is located at 2602 N Mattis Ave Champaign, IL.
    What is the asking price?
    The asking price for this property is $1,450,000.
    What are key features of this property?
    This property features: 100% Occupancy: Provides immediate income; Prime Investment Opportunity: Valuable asset in Champaign, IL; Total of 26,456 SF of industrial/flex space
    Contact an agent
    (217) 359-3131 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jordan Dunahee
    Jordan Dunahee
    Real Estate License ID: IL 475181066
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