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    920 Anthony Dr Champaign, IL 61821

    Sponsored
    For Lease
    Contact for pricing

    Build-to-suit retail lot, 0.93 acres.

    Lot size:
    4,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    401
    This exceptional 0.93-acre commercial/industrial land parcel presents a unique build-to-suit opportunity in Champaign County's most coveted retail area. Zoned CG, this single-tenancy lot offers 8,100 square feet of vacant space, ideal for a variety of retail developments. The property boasts unparalleled visibility, strategically located just west of the high-traffic North Prospect Retail Corridor and the I-74 interchange, ensuring maximum exposure to a substantial customer base. Its proximity to numerous established businesses, including Rural King, DaVita Dialysis, Goodwill, Chipotle, and Sam's Club, further enhances its desirability. The site benefits from excellent access and high traffic counts, with W Anthony Drive registering 5,400 AADT and N Prospect Ave boasting 27,300 AADT. This presents a rare chance to establish a thriving retail presence in a thriving commercial hub. Building sizes from 1,100 to 4,500 square feet are negotiable, making this an adaptable and attractive investment for developers seeking a prime location with significant growth potential. The APN is 41-20-02-276-014. This is a truly exceptional opportunity to capitalize on a high-demand location in a rapidly growing market. Contact us today to discuss your build-to-suit plans.

    Property Features for 920 Anthony Dr

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    4,500 SF

    Unit(s) available at that property

    Space
    Size
    4,500 SF

    HighLights

    • 0.93‑acre commercial/industrial land parcel available for build‑to‑suit retail development.
    • 8,100 square feet vacant, single‑tenant site.
    • Located in a prime Champaign County retail area near I‑74 and North Prospect Avenue.
    • Zoned CG.
    • APN: 41‑20‑02‑276‑014.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.26015
    Latitude
    40.1363251

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    FAQs

    What type of property is this?
    Retail property - Build-to-suit retail lot, 0.93 acres.
    Where is this retail property located?
    The property is located at 920 Anthony Dr Champaign, IL.
    What are key features of this property?
    This property features: 0.93-acre commercial/industrial land parcel available for build-to-suit retail development.; 8,100 square feet vacant, single-tenant site.; Located in a prime Champaign County retail area near I-74 and North Prospect Avenue.
    Request Owner's contact information
    920 Anthony Dr Champaign, IL 61821
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    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
    920 Anthony Dr Champaign, IL 61821
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