2208 W Springfield Ave Champaign, IL 61821

Building Details

Year Built

1979

Listing office Coldwell Banker Commercial Devonshire Realty z***@cbcdr.com Show Phone

Listing date May 24, 2024

Source Crexi

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Investment Insights

Based on property information with market context.

The property is a 7,680 square foot, twelve-bay self-service car wash constructed in 1979. Located in the middle of the building is storage, a mechanical/maintenance room, and one restroom. The building is of block construction and has 3-Phase, 600 amp service. The property is located along West Springfield Avenue, just west of Country Fair Drive, in an area with a mixture of retail, office, and multifamily uses. Springfield Avenue has a traffic count of 16,200 vehicles per day at this location. National retailers in the area include Burger King, Taco Bell, Papa Johns, Dunkin Donuts, and Circle K, along with regional banks like Busey and Heartland Bank & Trust. There may be a need for a cross-access parking agreement with the property at 2206 W. Springfield, next door to the east. Six of the twelve bays were not operable in 2023 and part of 2024; all twelve bays were operable as of August 2024. The property can also be purchased along with 2206 W. Springfield Ave. The Net Operating Income was $184,858 in 2023 and $108,346 in 2024. The projected NOI for 2025 is $75,000-$80,000 based on current performance.

Key Highlights

• High‑traffic location on Springfield Avenue with 16,200 vehicles per day.
• Substantial 7,680 SF building suitable for car wash operation.
• Strong NOI: $184,858 in 2023.

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FAQs

What type of property is this?

Self service car wash - 7,680 SF car wash on Springfield Avenue.

Where is this self service car wash located?

The property is located at 2208 W Springfield Ave Champaign, IL.

What is the asking price?

The asking price for this property is $825,000.

What are key features of this property?

This property features: High‑traffic location on Springfield Avenue with 16,200 vehicles per day.; Substantial **7,680 SF building** suitable for car wash operation.; Strong **NOI: $184,858** in 2023.