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    608 Town Center Blvd Champaign, IL 61822

    Sponsored
    For Sale
    $2,150,000

    High-yield restaurant & development land

    Property size:
    6,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional Champaign, IL property presents a lucrative investment opportunity. Located at 608 W Town Center Blvd, this mixed-use offering combines a 6,000 square foot restaurant currently under a 5-year gross lease with a $7,500 monthly rent, renewable for an additional 10 years, and a nearly two-acre vacant lot. The existing restaurant building is well-constructed and situated on a major thoroughfare connecting prominent shopping centers, including the nearby Costco. The vacant 1.9-acre lot offers significant development potential, allowing for the construction of an additional 6,000 square foot building. The property's strategic location and strong rental income make it an ideal investment for owner-users or developers seeking a high-return asset. The asking price for the entire property is $2,150,000; the vacant land alone is priced at $1,100,000. This is a rare opportunity to acquire a substantial commercial property in a thriving Illinois market. The property is zoned for commercial and restaurant use. The address is 608 W Town Center Blvd, Champaign, IL 61822.

    Property Features for 608 Town Center Blvd

    General Information

    Property type
    Restaurants
    Square Feet
    6,000 SF
    Lot Size
    82,764 SF

    HighLights

    • $2,150,000 asking price for a mixed‑use property.
    • 1.9‑acre lot with a 6,000 square foot restaurant building.
    • Located at 608 W Town Center Blvd, Champaign, IL 61822.
    • Gross lease in place for five years with renewal options.
    • Currently generating $7,500 monthly gross rent.
    • Potential for additional development on the vacant portion of the lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Las Palmas Mexican ... Mexican Restaurant

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.25202567
    Latitude
    40.14312883

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    FAQs

    What type of property is this?
    Restaurant - High-yield restaurant & development land
    Where is this restaurant located?
    The property is located at 608 Town Center Blvd Champaign, IL.
    What is the asking price?
    The asking price for this property is $2,150,000.
    What are key features of this property?
    This property features: $2,150,000 asking price for a mixed-use property.; 1.9-acre lot with a 6,000 square foot restaurant building.; Located at 608 W Town Center Blvd, Champaign, IL 61822.
    Request Owner's contact information
    608 Town Center Blvd Champaign, IL 61822
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    Champaign, IL 61822
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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
    608 Town Center Blvd Champaign, IL 61822
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