110 University Ave Urbana, IL 61801

Property Details for 110 University Ave

Year built

2011

Lot size

4.51 lot acres

Property size

29,595 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional retail investment opportunity, Gateway Shoppes at Five Points, presents two single-story buildings totaling 29,595 net rentable square feet on a 4.51-acre lot in Urbana, Illinois. Built in 2011 and 2015, the property boasts 100% occupancy with twelve tenants, including a mix of local and national, e-commerce resistant businesses. The strong tenant base features staggered lease expirations, mitigating vacancy risk. A corporate guarantee further enhances security. The property benefits from a prime location at the intersection of E University Ave and Highway 45, experiencing over 35,000 vehicles daily. Its proximity to the University of Illinois (nearly 60,000 students) and Carle Foundation Hospital (827 beds, over 1,000 doctors) ensures consistent high traffic. The surrounding area features numerous other retailers, creating a vibrant commercial hub. The property offers a current NOI of $285,911 and a pro-forma NOI of $315,522, translating to an 8.17% cap rate and a pro-forma cap rate of 9.01%, respectively. The asking price is $3,500,000, or $118.26 per square foot. Rent bumps are included in the lease agreements. The average household income within a five-mile radius is $68,723, with 132,757 residents in that area. This presents a compelling investment opportunity with significant upside potential.

Location Insight

City

Urbana

County

Champaign

State

Illinois

Longitude

-88.2069

Latitude

40.1177