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    4808 N Cunningham Avenue, Urbana, IL 61802

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    COMMERCIAL - Urbana, IL

    Lot size:
    1.00 Acre
    Added:
    Jul 7, 2025
    Days on Market:
    315
    Last Refresh:
    May 17 at 6:06 pm

    Property Features for 4808 N Cunningham Avenue

    General Information

    Property type
    Commercial Lease
    Property subtype
    Other
    Zoning
    COMMR
    Standard status
    Active
    Lot size
    1.00 Acre

    Taxes and HOA fees

    Tax Description
    LOT 2 BARR FARMS 1ST SUB

    Utilities

    Cooling system
    Central Air

    Building Details

    Year built
    1980
    Floors in Building
    1
    Number of units
    1

    We can help!

    Listing Contact
    Shannon Collins
    Shannon Collins

    Listing agent Shannon Collins License #ILLINOIS475.178418

    Listing office Green Street Realty 510 S. Neil St., Champaign, IL

    Listing date Jul 7, 2025

    MLS# 12412656

    Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    HighLights

    • 16,000 SF commercial facility featuring 15,000 SF of warehouse space and 800 SF of office space.
    • Conveniently located just north of I‑74 on Route 45.
    • Benefit from four 16‑foot overhead doors and generous gated gravel parking.
    • The warehouse boasts 20‑foot ceilings.
    • Office space includes four private offices, reception area, and two restrooms.
    • No water bill thanks to the well and septic system.

    Overview

    This 16,000 SF commercial facility is available for lease. The well-maintained commercial space is conveniently located just north of I-74 on Route 45. The property includes approximately 15,000 SF of concrete warehouse space with 20-foot ceilings, along with 800 SF of office space. The office area features four newly painted private offices, a reception area, and two restrooms. Central AC and a furnace are included in the office area, while the warehouse is heated. The building offers four 16-foot overhead doors and generous gated gravel parking. Signage is permitted for added business visibility. Operating on well and septic, the tenant will not incur a water bill. The property is ideal for businesses needing flexible commercial space with excellent accessibility and functionality. The landlord is willing to demise the warehouse space for the right tenant, potentially creating three separate spaces, all with overhead doors. The property is located in Urbana, IL.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    GFL-Area Disposal Urbana Waste Management Facility

    Suggested Use

    Building Supply Gym & Fitness Center Veterinary Clinic

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

    Similar Places Nearby

    • Own Your Own Storage — 1502 Airport Rd, Urbana, IL 61802
    • A To Z Storage — 3602 N Countryview Rd, Urbana, IL 61802

    Location Insight

    • Map
    • Local Demand
    City
    Urbana
    County
    Champaign
    State
    Illinois
    Longitude
    -88.1810516
    Latitude
    40.1670582

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    FAQs

    What type of property is this?
    Warehouse - 16,000 SF commercial space with warehouse and office areas.
    Where is this warehouse located?
    The property is located at 4808 N Cunningham Avenue Urbana, IL.
    What are key features of this property?
    This property features: 16,000 SF commercial facility featuring 15,000 SF of warehouse space and 800 SF of office space.; Conveniently located just north of I‑74 on Route 45.; Benefit from **four 16‑foot overhead doors** and generous gated gravel parking.
    (217) 356-8750
    We can help!
    Listing Contact
    Shannon Collins
    Shannon Collins
    Real Estate License ID: ILLINOIS475.178418
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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