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    409 Town Center Blvd Champaign, IL 61822

    For Sale
    $3,100,000

    High-yield retail investment, NNN lease.

    Property size:
    9,020 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    369
    This exceptional retail investment opportunity presents a newly constructed (2022), 9,020 square foot multi-tenant building situated on a 0.79-acre lot in Champaign, Illinois (APN: 41-20-01-126-047). The property boasts four inline units, including two drive-thru suites, with unit sizes starting at 2,240 square feet. Currently, the building has one signed lease, with an occupancy rate of 25%, generating a pro-forma NOI of $180,000 and a pro-forma cap rate of 5.81%. The asking price is $3,100,000, representing a price per square foot of $343.68. The property benefits from a highly desirable location, just west of a new Costco and surrounded by major retailers such as Menards, Target, Macy's, Dick's Sporting Goods, Sam's Club, Meijer, Aldi, Walmart Supercenter, Ashley Furniture, Kohl's, PetSmart, and Hobby Lobby. The property features ample parking with 68 spaces on-site. The building is zoned CG - Commercial General and has a remaining lease term of 3 years under a NNN lease structure. High traffic counts are reported on nearby roads: W. Town Center Blvd. (8,500 CPD), N. Neil St. (10,000 CPD), and N. Prospect Ave. (15,000 CPD). The property is currently configured as a convenience store, pharmacy/drug store, and QSR/fast food establishment.

    Property Features for 409 Town Center Blvd

    General Information

    Property type
    Restaurants
    Square Feet
    9,020 SF
    Lot Size
    34,412 SF

    Building Details

    Year Built
    2022

    HighLights

    • $3,100,000 asking price for a 9,020 square foot retail property.
    • NNN lease, multi‑tenant, with a remaining lease term of 3 years.
    • 6.00% cap rate, 5.81% pro‑forma cap rate, and a current occupancy of 25%.
    • Located at 409 W Town Center Blvd, Champaign, IL 61822, on a 0.79‑acre lot (APN: 41‑20‑01‑126‑047).
    • New construction (2022) with four inline units, two with drive‑thrus, in a CG (Commercial General) zoned area.
    • $343.68 price per square foot, with a pro‑forma NOI of $180,000.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Royal Nail Spa Nail Salon

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Auto Repair Shop

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

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.2495289
    Latitude
    40.1413278

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    FAQs

    What type of property is this?
    Restaurant - High-yield retail investment, NNN lease.
    Where is this restaurant located?
    The property is located at 409 Town Center Blvd Champaign, IL.
    What is the asking price?
    The asking price for this property is $3,100,000.
    What are key features of this property?
    This property features: $3,100,000 asking price for a 9,020 square foot retail property.; NNN lease, multi-tenant, with a remaining lease term of 3 years.; 6.00% cap rate, 5.81% pro-forma cap rate, and a current occupancy of 25%.
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    Realmo Value Estimation

    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.

    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.

    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
    409 Town Center Blvd Champaign, IL 61822
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