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    1502 Prospect Ave Champaign, IL 61820

    Sponsored
    For Lease
    Contact for pricing

    Freestanding building, 2600 sq ft, high visibility

    Lot size:
    2,600 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional 2,600 square foot freestanding commercial building is ideally situated at 1502 North Prospect Avenue in Champaign, Illinois, within Champaign County. The property boasts a single-tenant occupancy, offering a blank canvas for a variety of retail or restaurant concepts. The entire 2,600 square feet is currently vacant, presenting a unique opportunity for immediate occupancy and customization. The generous 0.48-acre lot provides ample space for parking and potential outdoor seating or signage, enhancing visibility and accessibility for customers. Located in the vibrant city of Champaign, this property benefits from high traffic volume and excellent exposure, making it an attractive location for businesses seeking a strong presence in a thriving market. The property's classification as both retail and restaurant suitable makes it versatile and adaptable to a wide range of commercial uses. The building's single-tenant configuration simplifies management and provides a cohesive brand identity. The zip code is 61820. This is a rare opportunity to secure a prominent commercial space in a desirable location. The property's size and location offer significant potential for growth and profitability. Serious inquiries are encouraged.

    Property Features for 1502 Prospect Ave

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,600 SF

    Unit(s) available at that property

    Space
    Available Space 1
    Size
    2,600 SF

    HighLights

    • Freestanding restaurant building with drive‑thru.
    • High‑traffic corner location at Prospect Avenue (21,600 VPD) and Bloomington Road (12,100 VPD).
    • Existing restaurant equipment included.
    • Visible pylon sign included.
    • Abundant on‑site parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    Freestanding property

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.2575824
    Latitude
    40.1311947

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    FAQs

    What type of property is this?
    Restaurant - Freestanding building, 2600 sq ft, high visibility
    Where is this restaurant located?
    The property is located at 1502 Prospect Ave Champaign, IL.
    What are key features of this property?
    This property features: Freestanding restaurant building with drive-thru.; High-traffic corner location at Prospect Avenue (21,600 VPD) and Bloomington Road (12,100 VPD).; Existing restaurant equipment included.
    Request Owner's contact information
    1502 Prospect Ave Champaign, IL 61820
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    Champaign, IL 61820
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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
    1502 Prospect Ave Champaign, IL 61820
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