402 W Griggs St Urbana, IL 61801

FOR SALE

Commercial real estate

Property ID

US28-2268700

Entity Owned Absentee Owner Free & Clear

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$400,000

402 W Griggs St, Urbana, IL 61801
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This exceptional 1.05-acre commercial land parcel presents a prime development opportunity in Urbana, Illinois. Strategically located just a few blocks east of the University of Illinois campus, south of the Carle Hospital campus, and one block from downtown Urbana, this property enjoys unparalleled accessibility and visibility. The property is zoned B3, offering a wide range of potential uses, making it highly versatile for various development projects. The asking price is $699,000. The lot's size and zoning regulations provide significant flexibility for developers seeking to capitalize on the area's strong demand for commercial and residential space. Its proximity to major institutions and the vibrant downtown area ensures high foot traffic and potential for strong returns on investment. This location offers a unique blend of convenience and growth potential, making it an attractive proposition for developers seeking a high-impact project in a thriving Illinois community. The address is 402 W Griggs St, Urbana, IL 61801. This is a rare opportunity to acquire a sizable, well-situated commercial lot in a highly desirable area.

Property type Commercial real estate

Use group COMMERCIAL (GENERAL)

APN 912108379005

UPID US28-2268700

Implied cap rate, NOI & suggested price

Cap rate vs submarket · NOI estimate · 3 price anchors

402 W Griggs St Urbana, IL 61801

Urbana metro Census 11100 CHAMPAIGN-URBANA, IL METROPOLITAN STATISTICAL AREA

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Blend (final) Blend

$195k

Comparables

6 recent transactions · within 1.5 mi

Comparable in this City

Value Estimation
$245,000

0.03 Acres

Urbana, IL 61801

COMMERCIAL (GENERAL)

Urbana, IL 61801

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Value Estimation by Request

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