402 W Marketview Dr, Champaign, IL 61822

Building Details

Year Built 2001 More

Buildings 1 More

Stories 1 More

Listing Agency: Keller Williams Commercial

Listed By: Atif Irfan MBA · License IL #475184926 Show Phone

Source: Crexi

Added: Oct 2 Changed: Nov 8 Last Checked: Nov 8 at 4:43PM

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Investment Insights

Based on property information with market context.

Built in 2001, the single-story building contains approximately 4,800 SF on a 0.68-acre parcel. Its approximately 80' x 60' footprint and 16-foot eave height define the property’s physical configuration. CG - Commercial General zoning applies, subject to municipal approvals for specific uses.

The property fronts Marketview Drive between North Prospect Avenue and North Neil Street, with access to Interstate 74. Nearby businesses include national retailers, restaurants, hotels and other commercial operations.

Key Highlights

• Approximately 4,800 SF building on 0.68 acres
• Constructed in 2001
• Approximately 80' x 60' building footprint with 16‑foot eave height

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$40,582

Cap Rate

5.41%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$811,640 $811.6K

Cap Rate 7%

$579,743 $579.7K

Cap Rate 9%

$450,911 $450.9K

Is this asking price fair?

Market Conditions

NOI Build-Up for 4,800 SF

Gross rent

$63.4K $13.20/SF

− Vacancy

−$5.4K −$1.12/SF

EGI

$58.0K $12.08/SF

− OpEx

−$17.4K −$3.62/SF

NOI

$40.6K $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%

$811,640

Cap Rate 7%

$579,743

Cap Rate 9%

$450,911

Alternative Uses

Best Use

Retail

$579.7K

$507.3K – $676.4K (±1% cap)

NOI $40,582 @ 7.0% cap · market cap 5.41%

Second Best

—

—

no second resolved use

Theoretical Best

Office A

$998.6K

$873.8K – $1.17M (±1% cap)

NOI $69,903 @ 7.0% cap · market cap 9.32%

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

Samer's Tires & Auto ... (Bike/Boat/Book/etc) Store

Suggested Use

Top Pick Real Estate Agency Law Firm Plumbing Service Electrical Service Veterinary Clinic Barber Shop

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

Yes

Highway access

Location Intelligence

Trade Area within ½ mile

990

Businesses Nearby

128k

Monthly Visits Nearby

Explore this area Business Placement

Foot Traffic Nearby

Superstores 74% Office Supplies 15% Apparel 11%

Costco Wholesale Superstores

94,362 visits/mo 0.4 miles

Office Depot Office Supplies

19,225 visits/mo 0.4 miles

JCPenney Apparel

13,757 visits/mo 0.4 miles

Extra Space Storage Shops & Services

454 visits/mo 0.5 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

Market

Properties on Market for Retail space in Champaign

Jul

Aug

Sep

Oct

Vacancy Rate% for Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Frequently Asked Questions

What type of property is this?

Retail space - A single-story commercial building offers on-site parking and CG - Commercial General zoning.

Where is this retail space located?

The property is located at 402 W Marketview Dr Champaign, IL.

What is the asking price?

The asking price for this property is $750,000.

What are key features of this property?

This property features: Approximately 4,800 SF building on 0.68 acres; Constructed in 2001; Approximately 80' x 60' building footprint with 16‑foot eave height