Multi-Tenant Flex
New
For Sale
$175,000
2702 Hundman Dr Unit 9, Champaign, IL 61822
Office and warehouse space is configured within a 13-unit condominium property in west Champaign.
Property Size1,300 SF
Days on Market2
Property Features for 2702 Hundman Dr Unit 9
General Information
Standard status
Active
Size
1,300 SF
Property subtype
Industrial
Zoning
L1, Light Industrial
Additional Details
Property Use
Office/Warehouse
Building Details
Building Size
1,300 SF
Tenancy
Multi
Listing Agency:
Coldwell Banker Commercial Devonshire Realty
Listed By:
Aj Thoma III, CCIM, SIOR · License #IL475.135026
(217) 403-3425
Source:
Cbcworldwide
Added: Oct 28
Last Checked: Oct 28 at 4:27PM
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 Coldwell Banker Commercial Devonshire Realty
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Investment Insights
Based on property information with market context.
This light industrial flex property combines office and warehouse space in a 13-unit condominium building. The multi-tenant configuration supports a range of commercial occupancy arrangements, and the property is located in west Champaign’s HOW Business Park.
The address is 2702 W Hundman Dr. Unit 9, Champaign, IL 61822. L1, Light Industrial zoning applies. CAM/NNN expenses include UCSD, landscaping, building insurance, snow removal, and trash removal.
The address is 2702 W Hundman Dr. Unit 9, Champaign, IL 61822. L1, Light Industrial zoning applies. CAM/NNN expenses include UCSD, landscaping, building insurance, snow removal, and trash removal.
Key Highlights
- 13‑unit office and warehouse condominium building
- Located in HOW Business Park in west Champaign
- L1, Light Industrial zoning
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$7,827
Cap Rate
4.47%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$156,540
$156.5K
Cap Rate 7%
$111,814
$111.8K
Cap Rate 9%
$86,967
$87.0K
Market Conditions
NOI Build-Up for 1,300 SF
Gross rent
$9.7K $7.44/SF
− Vacancy
−$464 −$0.36/SF
EGI
$9.2K $7.08/SF
− OpEx
−$1.4K −$1.06/SF
NOI
$7.8K $6.02/SF
Area
Champaign County, IL
Vacancy
4.80%
Lease Rate
$7.44 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$156,540
Cap Rate 7%
$111,814
Cap Rate 9%
$86,967
Alternative Uses
Best Use
Warehouse
$111.8K
$97.8K – $130.5K
NOI $7,827 @ 7.0% cap · market cap 4.47%
Second Best
Flex RnD
$102.1K
$89.4K – $119.2K
NOI $7,149 @ 7.0% cap · market cap 4.09%
Theoretical Best
Office A
$270.5K
$236.7K – $315.5K
NOI $18,932 @ 7.0% cap · market cap 10.82%
Zoning and permitted uses should be independently verified with authorities.
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Open Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
174
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Industrial in Midwest region
Frequently Asked Questions
What type of property is this?
Flex space - Office and warehouse space is configured within a 13-unit condominium property in west Champaign.
Where is this flex space located?
The property is located at 2702 Hundman Dr Unit 9 Champaign, IL.
What is the asking price?
The asking price for this property is $175,000.
What are key features of this property?
This property features: 13‑unit office and warehouse condominium building; Located in HOW Business Park in west Champaign; L1, Light Industrial zoning
