1706 State St Champaign, IL 61820-7241
This exceptional 6,584-square-foot free-standing retail building, constructed in 1998, is ideally situated at 1706 S State Street in Champaign, Illinois, zip code 61820. Currently vacant, this single-tenant property offers significant flexibility for a variety of uses. Its CG zoning allows for adaptation to flex space, office space, storage, or other retail configurations. The building's strategic location between State Street and Neil Street, just half a block south of Kirby Avenue, ensures high visibility and accessibility. Benefit from daily exposure to University of Illinois and Champaign-Savoy residential traffic, further enhanced by prominent Neil Street signage. The property includes a generous 40 parking spaces, a significant advantage in a high-traffic area. The building's adaptable design even allows for the potential addition of an overhead door, perfectly suited for flex space users. For qualified tenants, an attractive incentive of two months of free rent is available upfront. This presents a unique opportunity to secure a well-located, versatile commercial space with substantial parking in a thriving Illinois market. The property is zoned CG.
Cap rate
Implied · in-place · derived from last sale + estimated NOIValue
AI, CAP & Alternative Use estimations · Realmo proprietary blendProperty tax & assessments
Tax year 2023Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Property description
Physical attributes from public recordsZoning & alternative use
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.