Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    2017 S Neil St Champaign, IL 61820

    • Commercial real estate
    • 1.28 lot acres
    For Lease
    View listing
    $16 SF/Yr
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-4157769
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Moki Sushi / Restaurant

    Property Details for 2017 S Neil St

    Lot size
    1.28 lot acres
    Property type
    Commercial real estate
    APN
    452024251021
    APU
    452024251021

    Description

    This exceptional 9,200 square foot retail building, constructed in 2015, offers two available suites totaling 3,966 square feet. Suite A comprises 3,966 square feet, while Suite B offers 1,893 square feet. Both boast finished open floor plans with high ceilings, ample natural light from large windows, and convenient storage. The property benefits from an end-cap location within the thriving Carriage Center development, providing excellent visibility and accessibility. Ample on-site parking is available for tenants and customers. The CG zoning allows for versatile retail or office use. Carriage Center is strategically located near a major upscale grocery store, numerous national retailers, and a Hilton hotel, ensuring high foot traffic and strong brand recognition. Its proximity to the University of Illinois Research Park and a large office campus guarantees a substantial pool of potential customers and employees. This prime location in Champaign, Illinois (zip code 61820), offers unparalleled opportunities for businesses seeking a vibrant and convenient setting. The property's modern design and convenient amenities make it an ideal choice for a variety of businesses.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Champaign
    County
    Champaign
    State
    Illinois
    Longitude
    -88.2474
    Latitude
    40.0918
    CBSA code
    16580
    CBSA name
    CHAMPAIGN-URBANA, IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $55,394
    $210,590
    $403,680
    $614,270
    -
    $631,770
    $1,211,040
    $1,842,810

    Comparable in this City

    • Value Estimation by Request

      601 Richards Ln

      COMMERCIAL (GENERAL)
      601 Richards Ln, Champaign, IL 61820-7009
      View Details
    • Value Estimation by Request
      0.84 Acres

      331 Stoughton St

      COMMERCIAL (GENERAL) • 0.84 Acres
      331 Stoughton St, Champaign, IL 61820-5432
      View Details
    • Value Estimation by Request

      40 University Ave

      COMMERCIAL (GENERAL)
      40 University Ave, Champaign, IL 61820-4021
      View Details
    • Value Estimation by Request

      313 Water St, Unit 315

      COMMERCIAL (GENERAL)
      313 Water St, Champaign, IL 61820-4137
      View Details
    • Value Estimation by Request

      2104 Windsor Pl

      COMMERCIAL (GENERAL)
      2104 Windsor Pl, Champaign, IL 61820-7772
      View Details
    • Value Estimation
      $610,000
      18.58 Acres

      2000 Neil St

      COMMERCIAL (GENERAL) • 18.58 Acres
      2000 Neil St, Champaign, IL 61820-7808
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      0.59 Acres

      Champaign Gateway: Prime Development Land

      University Ave. Mixed-Use Opportunity
      0 Clark St, Champaign, IL 61820
      View Details
    • $5,950,000
      3.31 Acres

      Champaign Development Land - 3.3 Acres

      Prime Champaign location, flexible zoning, development potential.
      234 Neil St, Champaign, IL 61820
      View Details
    • $949,000

      Downtown Champaign Corner Lot

      High-traffic commercial/residential land
      502 Neil St, Champaign, IL 61820
      View Details
    • $2,212,848
      3.80 Acres

      Champaign Commercial Land - 18.8 Acres

      Prime Champaign development land, mixed zoning, I-57/74 access
      0 Wood Duck Ln, Champaign, IL 61820
      View Details
    • Contact for pricing
      0.59 Acres

      Champaign Gateway: Prime Development Land

      University Ave. mixed-use opportunity.
      113 University Ave, Champaign, IL 61820
      View Details
    • $2,300,000
      3.20 Acres

      Champaign Commercial Land - 3.2 Acres

      Prime Commercial Land, High Visibility, I-74 Access
      1512 Neil St, Champaign, IL 61820
      View Details

    Similar Nearby for Lease

    • $14,400 /Mo
      309 SF

      Champaign Executive Office Suites

      Downtown Champaign Office Space, 309 sq ft
      301 Neil St, Champaign, IL 61820
      View Details
    • $15 SF/Yr
      10,075 SF

      Champaign Office Suites: Downtown Charm

      Historic building, flexible spaces, prime location.
      44 Main St, Champaign, IL 61820
      View Details
    • $18 SF/Yr
      32,000 SF

      Midtown Plaza

      Lifestyle centers • 32,000 SF
      310 1St St, Champaign, IL 61820
      View Details
    • $17 SF/Yr
      52,724 SF

      Champaign Research Park Office Space

      Class A Office Suites Available Now
      2021 1St St, Champaign, IL 61820
      View Details
    • $125 SF/Yr

      Colony Square Business Technology Center (Btc)

      Colony Square Business Technology Center (Btc)
      701 Devonshire Dr Building C, Champaign, IL 61820
      View Details
    • $18 SF/Yr
      3,579 SF

      Prime Office Space in Champaign

      High-end office space between Campustown and Downtown Champaign.
      302-310 S 1St St, Champaign, IL 61820
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    2017 S Neil St
    Champaign, IL 61820
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.