Your AI Navigator in Commercial Real Estate
Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    1701 Springfield Ave Champaign, IL 61821

    For Sale
    $2,029,230

    High-return NNN lease, strong tenant.

    Property size:
    1,372 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    370
    This exceptional investment opportunity presents a 1,372 square foot Take 5 Oil Change franchise located at 1701 West Springfield Avenue, Champaign, IL 61821. The property, built in 2024, sits on a 0.98-acre lot and boasts a 100% occupancy rate with a 14.8-year remaining lease term (expiring 08/31/2039). The lease commenced on 08/31/2024 and is a triple-net (NNN) lease, meaning the tenant is responsible for all operating expenses, offering zero landlord responsibilities. The asking price is $2,029,230, representing a price per square foot of $1,479.03 and a 6.50% cap rate based on a net operating income (NOI) of $131,900. Rent increases are built into the lease with 7.5% bumps every five years. The property benefits from a prime location in a high-traffic retail corridor with over 25,000 vehicles per day, offering excellent visibility. Surrounding businesses include 7 Brew, Jersey Mike's Subs, Starbucks, Arby's, Smoothie King, Walgreens, FedEx, and a Big Lots anchored center. The area has a high single-family home density, with over 98,000 people within a 3-mile radius, further enhanced by the proximity to the University of Illinois Urbana-Champaign (approximately 36,000 students) and the State Farm Center (17,000+ capacity), located just 8 minutes away. This presents a secure, long-term investment with significant upside potential. The lease includes eight 5-year renewal options.

    Property Features for 1701 Springfield Ave

    General Information

    Property type
    Automotive properties
    Square Feet
    1,372 SF
    Lot Size
    42,689 SF

    Building Details

    Year Built
    2024

    HighLights

    • High‑visibility location on West Springfield Avenue and South Mattis Avenue, experiencing over 25,000 vehicles per day (VPD).
    • Brand new (2024) construction with a long‑term, triple‑net (NNN) lease; zero landlord responsibilities.
    • Excellent retail location surrounded by strong national tenants including 7 Brew, Jersey Mike's, Starbucks, Arby's, Smoothie King, Walgreens, FedEx, and a Big Lots‑anchored center.
    • High residential density, with over 98,000 people within a 3‑mile radius.
    • Strong local economy, with over $448.7 million in visitor spending annually.
    • Proximity to the University of Illinois Urbana‑Champaign (36,000 students) and the State Farm Center (17,000+ capacity), located just 8 minutes away.
    Property Profile Location Intelligence

    Current Use by Public Records

    Take 5 Oil ... Oil Change Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.275289970272
    Latitude
    40.112803887657

    Nearby Similar for Sale

    • $3,850,000
      22,052 SF

      Historic Downtown Champaign Mixed-Use Building

      Historic mixed-use building in downtown Champaign with retail, office, residential.
      41 E University Ave, Champaign, IL 61820
      View Details
    • $1,250,000
      10,440 SF

      Commercial Property with Residential Home

      10-acre commercial property with income, residential home, expansion potential.
      3612 W Bloomington Rd, Champaign, IL 61822
      View Details
    • $2,750,000
      Pending

      Turnkey Storage Business Opportunity

      Successful, recently expanded storage business with four commercial buildings.
      2713 Hundman Dr, Champaign, IL 61822
      View Details
    • $999,900
      8,628 SF

      Bi-Level Retail Facility For Sale

      Standalone retail facility on a prime out lot of Market Place Mall.
      6 Convenience Center Rd, Champaign, IL 61820
      View Details
    • New
      $698,000
      5,700 SF

      Commercial Building Near Major Intersection

      Retail, office, and warehouse space near high-traffic area.
      909 W Bloomington Rd, Champaign, IL 61821
      View Details
    • $6,400,000
      28,960 SF

      Multifamily Investment Near Campus

      Value-add multifamily property with 29 units and 85 beds.
      1007 S Locust St, Champaign, IL 61820
      View Details

    FAQs

    What type of property is this?
    Automotive property - High-return NNN lease, strong tenant.
    Where is this automotive property located?
    The property is located at 1701 Springfield Ave Champaign, IL.
    What is the asking price?
    The asking price for this property is $2,029,230.
    What are key features of this property?
    This property features: High-visibility location on West Springfield Avenue and South Mattis Avenue, experiencing over 25,000 vehicles per day (VPD).; Brand new (2024) construction with a long-term, triple-net (NNN) lease; zero landlord responsibilities.; Excellent retail location surrounded by strong national tenants including 7 Brew, Jersey Mike's, Starbucks, Arby's, Smoothie King, Walgreens, FedEx, and a Big Lots-anchored center.
    Request Owner's contact information
    1701 Springfield Ave Champaign, IL 61821
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1701 Springfield Ave
    Champaign, IL 61821
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    1701 Springfield Ave Champaign, IL 61821
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.