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    2208 Springfield Ave Champaign, IL 61821

    Sponsored
    For Sale
    $1,350,000

    12-Bay Self-Service Car Wash, High Traffic Area

    Property size:
    7,680 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional investment opportunity presents a 7,680 square foot, twelve-bay self-service car wash located at 2208 W Springfield Ave, Champaign, IL 61821. Built in 1979, this block building sits on a 0.75-acre lot (APN: 41-20-10-451-027) and boasts 3-phase, 600-amp electrical service. Currently featuring twelve bays, six were inoperable in 2023 but will be fully operational by June 2024. Internal space includes a central storage area, mechanical/maintenance room, and a restroom. The property enjoys a prime location on a high-traffic arterial road (Springfield Avenue), seeing 16,200 vehicles daily. Surrounding businesses include national chains like Burger King, Taco Bell, Papa Johns, Dunkin Donuts, and Circle K, as well as regional banks. The property's zoning is CG - Commercial General. A potential cross-access parking agreement may be needed with the adjacent property at 2206 W. Springfield Ave. This property is also available for purchase in conjunction with the neighboring property. Noteworthy is the strong historical net operating income (NOI): $184,858 in 2023, $192,711 in 2022, and $198,209 in 2021. The asking price is $1,350,000, translating to $175.78 per square foot.

    Property Features for 2208 Springfield Ave

    General Information

    Property type
    Automotive properties
    Square Feet
    7,680 SF
    Lot Size
    32,670 SF

    Building Details

    Year Built
    1979

    HighLights

    • $1,350,000 asking price for a 7,680 SF retail property.
    • 12‑bay self‑service car wash, built in 1979.
    • Located at 2208 W Springfield Ave, Champaign, IL 61821, on a 0.75‑acre lot (APN: 41‑20‑10‑451‑027).
    • Features 3‑phase, 600‑amp electrical service; all twelve bays will be operational by June 2024.
    • 2023 NOI: $184,858; 2022 NOI: $192,711; 2021 NOI: $198,209.
    • High‑traffic location (16,200 vehicles per day) on Springfield Avenue, near national and regional retailers.
    Property Profile Location Intelligence

    Current Use by Public Records

    CU Auto Bath ... Car Wash

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.285232
    Latitude
    40.1133871

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    FAQs

    What type of property is this?
    Automotive property - 12-Bay Self-Service Car Wash, High Traffic Area
    Where is this automotive property located?
    The property is located at 2208 Springfield Ave Champaign, IL.
    What is the asking price?
    The asking price for this property is $1,350,000.
    What are key features of this property?
    This property features: $1,350,000 asking price for a 7,680 SF retail property.; 12-bay self-service car wash, built in 1979.; Located at 2208 W Springfield Ave, Champaign, IL 61821, on a 0.75-acre lot (APN: 41-20-10-451-027).
    (217) 352-7712
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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
    2208 Springfield Ave Champaign, IL 61821
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