507 Town Ctr Blvd, Champaign, IL 61822-1248
- Retail space
- 3.31 lot acres
Current Use by Public Records
- Lewis Jeffrey M OD / Physician
- 7 days spa / Alternative Medicine Practice / Spa & Massage Center
- 7iay spa / Alternative Medicine Practice / Spa & Massage Center
- Krystal Valentin Carde / Alternative Medicine Practice
- Stanfield Chiropractic of Champaign / Alternative Medicine Practice
Property Details for 507 Town Ctr Blvd
- Lot size
- 3.31 lot acres
- Property type
- Retail space
- APN
- 412001126045
- APU
- 412001126045
Sales History
| Date | Price | Buyer | Seller | Deed Type | Mortgage |
|---|---|---|---|---|---|
| Dec 19, 2024 | $5,100,000 | Pgp Champaign Station 1 LLC | Scp Champaign LLC | Special Warranty Deed | $6.6M · Standard Insurance Co |
| Nov 25, 2020 | $6,112,500 | Scp Champaign LLC | Skyline Finl | Grant Deed | $3.5M · Commerceone Bk |
| Jan 23, 2020 | — | Skyline Financial LLC | — | Deed · related | $2.9M · Cadence Bk NA |
| Jan 30, 2017 | — | Skyline Finl | — | Deed · related | $2.7M · State Bk&tr |
| — | — | Skyline Financial LLC | — | Loan Modification · related | $2.9M · Cadence Bk NA |
| — | — | Skyline Finl | — | Loan Modification · related | $2.7M · State Bk&tr |
Description
This exceptional Class A, 21,152 square foot shopping center in Champaign, IL, presents a compelling investment opportunity. Boasting an 8.0% cap rate and a $5,475,000 asking price, the property enjoys a prime location directly across from a high-traffic Menards, attracting over 1.4 million annual visitors. The center is 100% occupied by eight tenants, featuring a diverse mix of e-commerce resistant businesses, with a weighted average lease term exceeding four years. The largest tenant recently signed a seven-year renewal. The property benefits from strong rent bumps and a stable NOI of $437,800. Built in 2007, this single-story building features a low-maintenance brick exterior and energy-efficient LED lighting. A significant value-add opportunity exists with an included 41,000 square foot developable pad site, offering potential for expansion or separate sale. The property's strategic location is further enhanced by its proximity to a top-performing regional mall and other major retailers, including Walmart, Target, and Meijer. This multi-tenant retail investment offers a compelling combination of strong current performance and future growth potential. The property is offered as a fee simple interest on a 3.31-acre site. NNN lease structure.
Value Estimations
-
AI approach
- Method
- Estimation
- Statistic approach
- $5,100,000
- ML approach
- $5,100,000
Get a detailed, property-specific estimation — fast and free
Location Insight
- Map
- Local Demand
- City
- Champaign
- County
- Champaign
- State
- Illinois
- Longitude
- -88.2519
- Latitude
- 40.1416
- CBSA code
- 16580
- CBSA name
- CHAMPAIGN-URBANA, IL METROPOLITAN STATISTICAL AREA
