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Property profile & analytics
OFF-MARKET
Commercial real estate
1608 Interstate Dr Champaign, IL 61822-1067
Entity Owned
7-yr Hold
Absentee Owner
Free & Clear
Property ID
US28-2511014
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Construction
WOOD
APN
411435303002
UPID
US28-2511014
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Tower Hobbies (Bike/Boat/Book/etc) Store
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
by Request
Owner & transaction history
Vereit Real Estate LP · 7 yrs held
Vereit Real Estate LP
since 2019
7 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Champaign submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Champaign submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$255,977
Tax year 2023
Assessed value
$3,056,090
Assessed 2023
Previous assessed
$2,819,270
+8.4% YoY
Effective rate
8.38%
On assessed value
Assessed land
$121,430
Assessed improvement
$2,934,660
Land market value
$364,290
Improvement market value
$8,803,980
Total market value
$9,168,270
Applied tax rate
4,102.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Construction
WOOD
Heating
NONE
APN
411435303002
UPID
US28-2511014
Jurisdiction
CHAMPAIGN
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Construction
WOOD
Heating
NONE
Current owner
From public records · entity-resolved
Vereit Real Estate LP
Entity
Free & Clear · 7 yrs held
Mailing address
2325 E CAMELBACK RD STE #1100, PHOENIX, AZ 85016-9078
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2019
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jun 25, 2019
$19,350,000
Vereit Real Estate LP
Hh Real Estate Holdings LLC
Grant Deed
—
Apr 9, 2018
—
Hh Real Estate Holdings LLC
Hobbico INC
Quit Claim Deed
related
$10,000,000 · Cibc Bank USA
Jan 27, 2017
—
Hobbico INC
—
Deed
related
$108,125 · Wells Fargo Bk
Jul 15, 2014
—
Hobbico INC
—
Deed Of Trust
related
$30,000,000 · Cyprium Investors IV Aiv LP
Dec 29, 2010
—
Hobbico INC
—
Deed Of Trust
related
$30,000,000 · Kpp Investors III LP
—
—
Hobbico INC
—
Deed Of Trust
related
—
—
—
Hobbico INC
—
Loan Modification
related
$108,125 · Wells Fargo Bk
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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