Champaign Industrial/Flex Space
For Sale
Contact for pricing
2602 N Mattis Ave, Champaign, IL 61822
Two buildings totaling 26,456 SF with 100% occupancy.
Property Size26,456 SF
Price / SF$54.81
Days on Market826
Property Features for 2602 N Mattis Ave
General Information
Standard status
Active
Size
26,456 SF
Property subtype
Industrial
Lease Type
Gross
Investment Type
Core+
Net Operating Income
$105,000
Building Details
Buildings
2
Tenancy
Multi
Listing Agency:
Ramshaw Real Estate, Inc.
Listed By:
Jordan Dunahee · License #IL 475181066
(217) 359-3131
Source:
Crexi
Added: Jul 11, 2024
Changed: Oct 2
Last Checked: Oct 12 at 7:54PM
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 Ramshaw Real Estate, Inc.
Investment Insights
Based on property information with market context.
Located in northwest Champaign, Illinois, this property features two buildings with a total area of 26,456 square feet. The property is currently 100% occupied. It is suitable for industrial or flex space investment. The property includes ample parking and multiple overhead doors.
Key Highlights
- 100% Occupancy: Provides immediate income
- Prime Investment Opportunity: Valuable asset in Champaign, IL
- Total of 26,456 SF of industrial/flex space
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$122,191
Cap Rate
8.43%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,443,820
$2.4M
Cap Rate 7%
$1,745,586
$1.7M
Cap Rate 9%
$1,357,678
$1.4M
Market Conditions
NOI Build-Up for 26,456 SF
Gross rent
$184.1K $6.96/SF
− Vacancy
−$9.6K −$0.36/SF
EGI
$174.6K $6.60/SF
− OpEx
−$52.4K −$1.98/SF
NOI
$122.2K $4.62/SF
Area
Champaign County, IL
Vacancy
5.20%
Lease Rate
$6.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,443,820
Cap Rate 7%
$1,745,586
Cap Rate 9%
$1,357,678
Alternative Uses
Best Use
Flex RnD
$2.08M
$1.82M – $2.42M
NOI $145,482 @ 7.0% cap · market cap 10.03%
Second Best
Industrial
$1.75M
$1.53M – $2.04M
NOI $122,191 @ 7.0% cap · market cap 8.43%
Theoretical Best
Office A
$5.50M
$4.82M – $6.42M
NOI $385,284 @ 7.0% cap · market cap 26.57%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
256
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 61822, IL
25,091
Population
11,923
Households
2.1
Avg Household Size
38
Median Age
58%
College-Educated
96%
High-School Grad
107.2 sq mi
ZIP Area
234
Density / Sq Mi
$97,044
Median Household Income
$55,385
Median Earnings
$1,265
Median Rent
$264,600
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in Midwest region
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Frequently Asked Questions
What type of property is this?
Flex space - Two buildings totaling 26,456 SF with 100% occupancy.
Where is this flex space located?
The property is located at 2602 N Mattis Ave Champaign, IL.
What is the asking price?
The asking price for this property is $1,450,000.
What are key features of this property?
This property features: 100% Occupancy: Provides immediate income; Prime Investment Opportunity: Valuable asset in Champaign, IL; Total of 26,456 SF of industrial/flex space
