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    FOR SALE
    Turn key restaurants

    1905 N Neil St, Champaign, IL 61822

    Entity Owned ~ Est. High Equity
    Property ID
    US28-2190923
    Property summary
    AI-generated overview

    This exceptional 5,200-square-foot freestanding retail building presents a unique investment opportunity in a high-traffic location. Previously used as a restaurant, the property boasts a convenient drive-thru, ample parking accommodating 62 vehicles, and sits on a sizable 1.52-acre lot. Its strategic placement directly across from Market Place Mall, Costco, and Dick's House of Sport ensures high visibility and accessibility. The property's proximity to Interstate 74 (less than one mile) further enhances its appeal to a wide range of potential tenants. The building is zoned CG - Commercial General, offering flexibility for various retail uses. The entire 5,200 square feet is currently vacant, providing a blank canvas for a new business to establish its presence. For qualified tenants, attractive tenant improvement packages are available. This single-tenant building represents a compelling chance to capitalize on a prime retail location within one of Champaign's most vibrant shopping areas. The property's size and location make it ideal for a variety of retail concepts seeking high visibility and convenient access for customers. The ample parking and drive-thru further enhance its operational efficiency and customer convenience.

    Property profile
    Verified
    Property type Turn key restaurants
    Use group RESTAURANT
    APN 412001204002
    UPID US28-2190923
    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
    • Oberweis Ice Cream and Dairy Store Grocery & Convenience Store Specialty Food Shop
    • That Burger Joint Restaurant
    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
    Laxmi Realty LLC
    Laxmi Realty LLC
    since 2025
    7 recorded transactions
    2026
    2025
    2021
    2019
    $760,000
    2018
    2018
    2017
    Zoning & alternative use
    Permitted uses
    Permitted uses
    Allowed · conditional · prohibited
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    “Is 15.6% cap rate sustainable?” · “Best tenant mix for BU1?” · “What’s the redev upside?”
    More about this property
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