Collision Repair Auto
New
For Sale
$5,200,000
501 W Kenyon Rd, Champaign, IL 61820
Established collision repair operation with vehicle storage and convenient access to Interstate 57.
Property Size19,440 SF
Lot Size2.51 Acres
Price / SF$268.04
Days on Market5
Property Features for 501 W Kenyon Rd
General Information
Standard status
Active
Size
19,440 SF
Lot size
2.51 Acres
Property subtype
Commercial
Additional Details
Business Included
Yes
Highway Access
Yes
Amenities
secure vehicle storage
Building Details
Building Size
19,440 SF
Year Built
1999
Buildings
1
Listing Agency:
Matthews Real Estate Investment Services
(949) 570-8799
Listed By:
Cody Wellington · License #02220548 (CA)
(949) 570-8799
Source:
Matthews
Added: Aug 14
Changed: Aug 15
Last Checked: Aug 17 at 3:36AM
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 Matthews Real Estate Investment Services
Investment Insights
Based on property information with market context.
This automotive property includes a ±19,400 SF collision repair facility on a ±2.51-acre site. Built in 1999, the improvements support a large-format shop operation with ample parking and secure vehicle storage. The business, Gallo-Miller Paint & Collision, has operated in the Champaign market for decades and serves as an established local collision repair provider.
The property is located at 501 W Kenyon Rd in Champaign, Illinois, just off Interstate 57. Its interstate access provides a direct connection to the broader Champaign-Urbana area and supports regional customer and vehicle movement. The expansive site offers relatively low coverage compared with the facility size, leaving room for parking and secured vehicle staging.
The property is located at 501 W Kenyon Rd in Champaign, Illinois, just off Interstate 57. Its interstate access provides a direct connection to the broader Champaign-Urbana area and supports regional customer and vehicle movement. The expansive site offers relatively low coverage compared with the facility size, leaving room for parking and secured vehicle staging.
Key Highlights
- ±19,400 SF collision repair facility
- ±2.51‑acre automotive property
- Just off Interstate 57 in Champaign, IL
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
$164,019
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
3.15%
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%
$3,280,380
$3.3M
Cap Rate 7%
$2,343,129
$2.3M
Cap Rate 9%
$1,822,433
$1.8M
Market Conditions
NOI Build-Up for 19,400 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
$256.1K $13.20/SF
− Vacancy
−$21.8K −$1.12/SF
EGI
$234.3K $12.08/SF
− OpEx
−$70.3K −$3.62/SF
NOI
$164.0K $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 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%
$3,280,380
Cap Rate 7%
$2,343,129
Cap Rate 9%
$1,822,433
Alternative Uses
Best Use
Retail
$2.34M
$2.05M – $2.73M
NOI $164,019 @ 7.0% cap · market cap 3.15%
Second Best
Industrial
$1.28M
$1.12M – $1.49M
NOI $89,602 @ 7.0% cap · market cap 1.72%
Theoretical Best
Office A
$4.04M
$3.53M – $4.71M
NOI $282,526 @ 7.0% cap · market cap 5.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
693
Businesses Nearby
20k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Office Supplies 96%
Shops & Services 4%
Office Depot
Office Supplies
19,225 visits/mo
0.4 miles
U-Haul
Shops & Services
853 visits/mo
0.3 miles
Demographics for 61820, IL
40,822
Population
18,672
Households
2.2
Avg Household Size
25
Median Age
55%
College-Educated
93%
High-School Grad
5.9 sq mi
ZIP Area
6,919
Density / Sq Mi
$31,031
Median Household Income
$14,828
Median Earnings
$1,077
Median Rent
$175,900
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Auto shop - Established collision repair operation with vehicle storage and convenient access to Interstate 57.
Where is this auto shop located?
The property is located at 501 W Kenyon Rd Champaign, IL.
What is the asking price?
The asking price for this property is $5,200,000.
What are key features of this property?
This property features: ±19,400 SF collision repair facility; ±2.51‑acre automotive property; Just off Interstate 57 in Champaign, IL
