1803-1809 Philo Rd Urbana, IL 61802
- Lifestyle centers
- 25,576 SF
- 1.22 lot acres
Current Use by Public Records
- Lifestyle centers
Property Details for 1803-1809 Philo Rd
- Lot size
- 1.22 lot acres
- Property size
- 25,576 SF
- Property type
- Lifestyle centers
- Property subtype
- Power centers
Description
This exceptional investment opportunity presents a 25,576-square-foot shopping center in Urbana, Illinois, strategically located less than one mile from the University of Illinois, a major university with over 55,000 students. The property boasts a strong tenant lineup, including Planet Fitness, Hot Spot LLC, Sister Sister's, Scrub N' Cuts, and Well Experience, resulting in a 92.48% occupancy rate. The center offers a compelling 9.00% cap rate and a price per square foot of $72.33, representing a significant value-add opportunity. The property features five tenants with varying lease terms and rent bumps. Built in 2010, the 1.22-acre lot benefits from a high population density, with over 120,000 residents within a five-mile radius. The Planet Fitness location is operated by a large franchisee with over 120 locations nationwide, ensuring stability and operational expertise. Nearby national retailers include Walgreens, CVS, McDonald's, Burger King, Papa Johns, Meijer, and Circle K, further enhancing the property's visibility and appeal. The asking price is $1,850,000, and seller financing options are available. The Net Operating Income (NOI) is $166,286. This property is an ideal investment for those seeking a stable, high-performing retail asset in a vibrant university town.
Value Estimation
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Urbana
- County
- Champaign
- State
- Illinois
- Longitude
- -88.1918
- Latitude
- 40.0959
