Landscaped Office
For Sale
Contact for pricing
Pending
505 DEVONSHIRE DR, Champaign, IL 61820
Professional office layout with private offices, an executive suite, conference room, and supplemental basement space.
Property Size4,352 SF
Lot Size1.00 Acre
Days on Market79
Property Features for 505 DEVONSHIRE DR
General Information
Standard status
Pending
Size
4,352 SF
Class
B
Total Parking Spaces
14
Lot size
1.00 Acre
Property subtype
Office
Zoning
Commercial Office
Investment Type
Owner/User
Additional Details
Road Access
Yes
Building Details
Year Built
1984
Buildings
1
Stories
2
Units
1
Listing Agency:
Guth & Associates
Listed By:
Jill Guth · License #IL 471.020488
(217) 355-2545
Source:
Crexi
Added: Jul 20
Changed: Sep 30
Last Checked: Oct 5 at 4:54PM
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 Guth & Associates
Investment Insights
Based on property information with market context.
This 4,352-square-foot office building occupies a landscaped 1-acre site and was constructed in 1984. The 1½-story layout includes multiple private offices, a spacious executive suite, and a conference room on the second floor. A partial basement provides additional storage or support space, while the overall configuration offers functional accommodations for a professional office operation.
The property is positioned at the corner of Devonshire Drive and Fox Drive within an established professional office corridor in Champaign. Commercial Office zoning supports its current office use. The site also provides room for potential expansion of the existing building or construction of a secondary building, as described in the property information.
The property is positioned at the corner of Devonshire Drive and Fox Drive within an established professional office corridor in Champaign. Commercial Office zoning supports its current office use. The site also provides room for potential expansion of the existing building or construction of a secondary building, as described in the property information.
Key Highlights
- 4,352 SF office building on a landscaped 1‑acre site
- 1½‑story configuration with multiple private offices
- Spacious executive suite included
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$44,299
Cap Rate
5.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$885,980
$886.0K
Cap Rate 7%
$632,843
$632.8K
Cap Rate 9%
$492,211
$492.2K
Market Conditions
NOI Build-Up for 4,352 SF
Gross rent
$75.7K $17.40/SF
− Vacancy
−$16.7K −$3.83/SF
EGI
$59.1K $13.57/SF
− OpEx
−$14.8K −$3.39/SF
NOI
$44.3K $10.18/SF
Area
Champaign County, IL
Vacancy
22.00%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$885,980
Cap Rate 7%
$632,843
Cap Rate 9%
$492,211
Alternative Uses
Best Use
Office B
$632.8K
$553.7K – $738.3K
NOI $44,299 @ 7.0% cap · market cap 5.54%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$905.4K
$792.2K – $1.06M
NOI $63,379 @ 7.0% cap · market cap 7.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
1,221
Businesses Nearby
Explore this area
Business Placement
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
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Market
Vacancy Rate% for Office in Midwest region
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Frequently Asked Questions
What type of property is this?
Office building - Professional office layout with private offices, an executive suite, conference room, and supplemental basement space.
Where is this office building located?
The property is located at 505 DEVONSHIRE DR Champaign, IL.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: 4,352 SF office building on a landscaped 1‑acre site; 1½‑story configuration with multiple private offices; Spacious executive suite included
