12 Main St Champaign, IL 61820
- Retail space
Current Use by Public Records
- Retail space
Property Details for 12 Main St
- Property type
- Retail space
- APN
- 422012429004
- APU
- 422012429004
Description
This exceptional 2531-square-foot retail/office space is located in the vibrant heart of Downtown Champaign, Illinois. Currently undergoing a complete exterior facade restoration, the property will feature a stunning new storefront and glazing, returning it to its original architectural glory. The first floor comprises two combined retail units, offering a flexible, open layout ideal for a variety of businesses. Amenities include a restroom and ample backroom storage. The space can be delivered as a "vanilla box" or with a substantial tenant improvement allowance, providing flexibility to suit individual business needs. The second floor is currently under conversion into multiple apartments, presenting a unique opportunity for a synergistic business model. This prime location benefits from its proximity to a diverse range of amenities, including numerous restaurants, bars, cafes, hotels, and a robust retail sector. Its strategic position within two miles of the University of Illinois campus ensures a constant flow of students, faculty, and visitors, creating a strong and diverse customer base. The property is managed by a leading Central Illinois commercial property management firm, ensuring seamless operations and professional management. This is a rare opportunity to secure a high-profile space in a thriving downtown area with significant potential for growth and success.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $130,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $180,000
- 6.5%
- $175,000
- 7%
- $190,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $210,000
- Geo Method
- $185,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $160,000
- Retail
- $190,000
- Mixed-Use
- $160,000
- Hospitality
- $180,000
- Educational
- $165,000
- Residential Income
- $170,000
- Energy
- $185,000
- Income-Based Land
- $155,000
- Food Service
- $160,000
Location Insight
- Map
- Local Demand
- City
- Champaign
- County
- Champaign
- State
- Illinois
- Longitude
- -88.243
- Latitude
- 40.1178
- CBSA code
- 16580
- CBSA name
- CHAMPAIGN-URBANA, IL METROPOLITAN STATISTICAL AREA