Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    805 E Perkins Rd Urbana, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    16,975 SF industrial building remodeled in 2022 & 2023.

    Type:INDUSTRIAL
    Property size:
    16,975 SF
    Lot size:
    1.23 Acres
    Price / SF:
    $70/SF
    Added:
    Aug 25, 2025
    Days on Market:
    248
    Last Refresh:
    Apr 5 at 9:31 pm

    Property Features for 805 E Perkins Rd

    General Information

    Standard status
    Active
    Size
    16,975 SF
    Lot size
    1.23 Acres
    Property subtype
    INDUSTRIAL

    Properties For Sale

    at 805 E Perkins Rd Contact us

    We can help!

    Listing Contact
    Zach Wetherell
    Zach Wetherell

    Listing agent Zach Wetherell

    Listing office Coldwell Banker Commercial Devonshire Realty

    Listing date Aug 25, 2025

    Source Moodyscre

    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

    Overview

    Remodeled Industrial Building with Solar

    The subject property encompasses a total of 16,975 square feet and is currently divided into three separate suites, situated on 1.22 acres of land. Originally constructed in 1971 with an addition in 1989, the building underwent interior remodeling in 2022 and 2023. The exterior was painted in 2024. A new roof was installed in 2019, and solar panels were added in 2020. Unit C has access to a fenced lot on the east side of the building. Unit A is currently occupied by the owner, who intends to vacate upon the sale of the building.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    TCT Construction, Inc General Contractor ECI Construction Services, ... Construction Company

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Gym & Fitness Center

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

    Similar Places Nearby

    • Extra Space Storage — 1710 N Cunningham Ave, Urbana, IL 61802
    • Jenkins & Key Moving & Storage — 1108 Carroll Ave, Urbana, IL 61802

    Location Insight

    • Map
    • Local Demand
    City
    Urbana
    County
    Champaign
    State
    Illinois
    Longitude
    -88.198
    Latitude
    40.1272

    Nearby Similar for Sale

    • $1,300,000

      Urbana Commercial Property For Sale

      Prime commercial property in Urbana, Illinois, ideal for various ventures.
      306 W Springfield Avenue W, Urbana, IL 61801
      View Details
    • $459,900

      Downtown Urbana Retail Condominium

      Prime retail condominium in downtown Urbana with renovated space.
      110 W Main Street, Urbana, IL 61801
      View Details
    • $159,900

      Urbana Duplex Near U of I

      Well-located Urbana duplex with strong rental potential near U of I.
      1207 N Linview Avenue, Urbana, IL 61801
      View Details
    • $410,000

      Urbana Multifamily Investment Opportunity

      Fully leased 5-unit building with parking and coin laundry.
      212 W High Street, Urbana, IL 61801
      View Details
    • $384,900

      Urbana Duplex with Investment Potential

      Side-by-side duplex in Deerfield Trails neighborhood with rental income.
      3202 Chatham Drive, Urbana, IL 61802
      View Details
    • $149,900

      Urbana Commercial Property for Sale

      Commercial property with potential for redevelopment in Urbana, Illinois.
      507 Crystal Lake Drive, Urbana, IL 61802
      View Details
    • $274,000

      Updated Duplex with Fenced Yards

      Well-maintained duplex featuring updates, private yards, and modern amenities.
      1105 E Florida Avenue, Urbana, IL 61801
      View Details
    • $599,000

      Well-Maintained 5-Unit Near Campus

      Prime location near University of Illinois with on-site parking.
      709 W Nevada Street, Urbana, IL 61801
      View Details
    • $475,000

      Downtown Urbana Commercial Building

      Two-story commercial building with first-floor restaurant in downtown Urbana.
      114 S Race, Urbana, IL 61801
      View Details
    • $175,000

      Urbana Commercial Property For Sale

      Versatile commercial building in Urbana with convenient interstate access.
      4904 N Cunningham Avenue, Urbana, IL 61802
      View Details
    • $275,000

      Fully Leased Urbana Multifamily Property

      Five-unit building near downtown Urbana, fully leased with remodeling.
      202 S Grove Street, Urbana, IL 61802
      View Details
    • $970,000
      8,800 SF

      Remodeled Bar & Karaoke Venue

      Turnkey bar and karaoke venue with leaseback opportunity.
      214 W Main St, Urbana, IL
      View Details

    FAQs

    What type of property is this?
    Warehouse - 16,975 SF industrial building remodeled in 2022 & 2023.
    Where is this warehouse located?
    The property is located at 805 E Perkins Rd Urbana, IL.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Remodeled interior (2022 & 2023) and freshly painted exterior (2024).; New roof (2019) with solar panels (2020).; Total of 16,975 SF divided into three separate suites.
    (217) 821-8553 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Zach Wetherell
    Zach Wetherell
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!