Your AI Navigator in Commercial Real Estate
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
    Property profile & analytics

    301 Murray Rd Rantoul, IL 61866

    • Commercial real estate
    For Sale
    View listing
    $300,000
    Last Sale
    Jul 12, 2021
    $1,177,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2425308
    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

    • Cardtronics ATM / Atm
    • Circle K / Atm / Convenience Store

    Property Details for 301 Murray Rd

    Property type
    Commercial real estate
    APN
    200903151014
    APU
    200903151014

    Description

    This exceptional 0.71-acre commercial land parcel presents a unique investment opportunity in Rantoul, Illinois. Located at 301 S. Murray Road, this prime corner lot sits at the southeast intersection of S. Murray Road and W. Champaign Ave, offering unparalleled visibility and accessibility. Its strategic location provides convenient access to Interstate 57, maximizing exposure to a large volume of daily traffic. The property is zoned C-2, allowing for a wide range of commercial uses. The existing 2,682 square foot building offers potential for redevelopment or repurposing. This property boasts a highly desirable location, benefiting from both local residents and the significant interstate traffic flow. The APN is 20-09-03-151-014. The asking price for this exceptional commercial land is $300,000. Don't miss this chance to capitalize on this high-traffic location and establish your business in a thriving community. This is a rare opportunity to acquire a substantial corner lot with significant development potential.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $1,100,000

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

    Location Insight

    • Map
    • Local Demand
    City
    Rantoul
    County
    Champaign
    State
    Illinois
    Longitude
    -88.1743
    Latitude
    40.3078
    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
    $17,487
    $21,390
    $151,830
    $173,220
    -
    $64,170
    $455,490
    $519,660

    Comparable in this City

    • Value Estimation by Request
      1.10 Acres

      626 Champaign Ave

      Land • 1.10 Acres
      626 Champaign Ave, Rantoul, IL 61866
      View Details
    • Value Estimation by Request
      58.80 Acres

      1356 County Road 2900

      Farms • 11,054 SF
      1356 County Road 2900, Rantoul, IL 61866
      View Details
    • Value Estimation by Request
      3.40 Acres

      101 Neal Dr

      Commercial real estate • 3.40 Acres
      101 Neal Dr, Rantoul, IL 61866
      View Details
    • Value Estimation by Request

      Rantoul, IL 61866

      COMMERCIAL (GENERAL)
      Rantoul, IL 61866
      View Details
    • Value Estimation by Request

      Rantoul, IL 61866

      COMMERCIAL (GENERAL)
      Rantoul, IL 61866
      View Details
    • Value Estimation by Request

      Rantoul, IL 61866

      COMMERCIAL (GENERAL)
      Rantoul, IL 61866
      View Details

    Similar Nearby for Sale

    • $149,900
      3.40 Acres

      Prime Rantoul Commercial Theater

      Spacious theater, ample land, investment opportunity.
      101 Neal Dr, Rantoul, IL 61866
      View Details
    • $149,900
      5.10 Acres

      Prime Rantoul Commercial Property

      Four Brick Dormitories, 288 Units
      101 Borman Dr, Rantoul, IL 61866
      View Details
    • $300,000
      0.71 Acres

      Prime Rantoul Commercial Land

      High-traffic corner lot, 0.71 acres, C-2 zoning.
      301 Murray Rd, Rantoul, IL 61866
      View Details
    • $563,000
      5.63 Acres

      Rantoul Commercial Land - 5.63 Acres

      Prime Commercial Development Opportunity in Rantoul, IL
      2995 County Road 1400, Rantoul, IL 61866
      View Details
    • Contact for pricing
      48.48 Acres

      Prime Rantoul Commercial Land

      48 Acres, I-57 Frontage, High Traffic
      1050 Champaign Ave, Rantoul, IL 61866
      View Details
    • $233,000
      4,800 SF

      Rantoul Commercial Building - $233K

      Spacious 4800 sq ft building, endless potential.
      1902 County Road 3000, Rantoul, IL 61866
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,982 SF

      Retail Space in Rantoul, IL

      Retail space available for lease in Rantoul, Illinois.
      301 E Champaign Ave, Rantoul, IL 61866
      View Details
    • $4 SF/Yr
      73,500 SF

      Rantoul Industrial Property with Dock Doors

      73,500 SF industrial property featuring multiple dock doors.
      106 W Flessner Ave, Rantoul, IL 61866
      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.
    301 Murray Rd
    Rantoul, IL 61866
    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.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.