312 Kirby Ave Champaign, IL 61820
- Retail space
Current Use by Public Records
- CSL Plasma / Blood Donation Center
Property Details for 312 Kirby Ave
- Property type
- Retail space
- APN
- 432013456001
- APU
- 432013456001
Description
This fee-simple investment opportunity presents a 15,486 square-foot medical office building in Champaign, Illinois, currently 100% occupied by CSL Plasma under a triple-net (NNN) lease. The lease, commencing August 1, 2019, and expiring August 1, 2034, has approximately 9.7 years remaining, with two five-year renewal options. The property boasts a 6.75% cap rate and a net operating income (NOI) of $235,967. The lease includes 10% rental increases every five years, providing built-in growth and inflation protection. The corporate guarantee from CSL Plasma, a leader in plasma collection, mitigates risk. Situated on a 1.34-acre lot with 77 parking spaces, the building is located at a signalized intersection with high visibility and daily traffic exceeding 22,000 vehicles. The property benefits from its proximity to major shopping centers, Interstate access (I-57, 72, and 74), and the University of Illinois Urbana-Champaign. The strong demographics of the 5-mile trade area, including over 151,400 residents and 92,500 daytime employees, further enhance the investment potential. The property's zoning is commercial, and it was built in 2019. An on-site billboard provides additional income. The asking price is $3,496,000, translating to $225.75 per square foot. The property includes a land and building ownership (Fee Simple).
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Champaign
- County
- Champaign
- State
- Illinois
- Longitude
- -88.2477
- Latitude
- 40.0985
- CBSA code
- 16580
- CBSA name
- CHAMPAIGN-URBANA, IL METROPOLITAN STATISTICAL AREA
