1207 N Mattis Ave Champaign, IL 61821

Property Details for 1207 N Mattis Ave

Construction

WOOD

Property type

Commercial real estate

APN

412003477003

APU

412003477003

Description

This single-story, 11,975 square foot medical office building, located at 1207 S Mattis Ave in Champaign, IL 61821, is available for sale or lease. Built in 1956 with renovations in 1986, 2001, and 2005, including a new roof in 2021, the property features five units and currently houses four tenants, boasting an 80% occupancy rate. The building sits on a 40,354 square foot lot and is zoned CN Commercial Neighborhood. The asking price is $1,250,000, representing a price per square foot of $104.38 and a pro-forma cap rate of 8.56%. The pro-forma NOI is $107,000. The property offers a flexible layout, currently configured to accommodate a variety of professional services, including healthcare and financial businesses. The building's prime location on Mattis Avenue provides high visibility and accessibility, benefiting from approximately 17,000 cars passing daily. Its proximity to the University of Illinois and major retail areas further enhances its appeal. The lease type is NNN (Net Lease) with a multi-tenant occupancy. The property presents a compelling investment opportunity due to its central location, diverse tenant mix, and potential for owner/operator involvement. The space is divisible, with a minimum leasable area of 1,600 square feet. The building includes two kitchens and a large open workspace.