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    The Largest CRE Database in the US with Over 1 Million Listings

    908 Town Center Blvd Champaign, IL 61822

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    For Lease
    $22 SF/Yr

    High-traffic retail spaces near University of Illinois.

    Lot size:
    2,401 SF

    Property Features for 908 Town Center Blvd

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    2,401 SF

    Spaces For Lease

    at 908 Town Center Blvd, Champaign, IL 61822 Contact us
    Unit 914 Town Center Blvd

    $22 /Mo

    Size
    1,631 SF
    Contact us
    Unit 908 Town Center Blvd.

    $24 /Mo

    Size
    770 SF
    Contact us

    We can help!

    Listing Contact
    Mike Carpenter
    Mike Carpenter

    Listing Agency: RVG Commercial Real Estate Listing Agent: Mike Carpenter

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    This Champaign, Illinois retail property, located at 908 & 914 West Town Center Boulevard, offers two available spaces totaling 770 to 1,631 square feet. Situated on a Meijer's outlot at the highly visible corner of Prospect and Town Center Boulevard, this retail center benefits from exceptional exposure to a large volume of daily traffic. The property boasts a strong tenant mix, including established national brands such as Verizon Wireless, Great Clips, Americash, and Penn Station, creating a synergistic and desirable retail environment. The spaces are ideal for a variety of retail uses, providing an excellent opportunity to establish a presence in a thriving market. The Champaign-Urbana area is a dynamic community anchored by the University of Illinois, ensuring a consistent flow of customers and a robust local economy. This prime location offers unparalleled visibility and accessibility, making it an attractive investment for businesses seeking to capitalize on the area's strong retail market. The property is in Champaign County, Illinois, with a zip code of 61822. While the center has historically maintained 100% occupancy since its construction, these two spaces present a unique opportunity for new tenants to join this successful retail center.
    Property Profile Location Intelligence

    Current Use by Public Records

    AmeriCash Loans Loan Service

    Suggested Use

    Real Estate Agency Restaurant Law Firm Building Supply Dental Office Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Gym & Fitness Center

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

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.2592171
    Latitude
    40.1432154

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    FAQs

    What type of property is this?
    Retail property - High-traffic retail spaces near University of Illinois.
    Where is this retail property located?
    The property is located at 908 Town Center Blvd Champaign, IL.
    What is the lease rate?
    The lease rate is $22-$24 SF/Yr.
    What are key features of this property?
    This property features: Two retail spaces available, totaling 770-1,631 square feet, in Champaign, IL.; Located on a Meijer's outlot at a high-traffic corner, offering excellent visibility.; Strong tenant mix includes national brands like Verizon and Great Clips.
    Request Owner's contact information
    908 Town Center Blvd Champaign, IL 61822
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    Champaign, IL 61822
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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
    908 Town Center Blvd Champaign, IL 61822
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    Listing Contact
    Mike Carpenter
    Mike Carpenter
    Real Estate License ID: 471009955
    Learn more
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