1701 Springfield AveChampaign, IL 61821

Property Details for 1701 Springfield Ave

Year built

2024

Lot size

0.98 AC

Property size (Sq ft)

1,372 SF

Property type

Retail properties

Property subtype

Other retail properties

Description

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.

Location Insight

City

Champaign

County

Champaign

State

Illinois

Latitude

40.1128

Longitude

-88.2753

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at support@realmo.com and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at support@realmo.com.