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$ 3,000,000
Est. payment | /mo
13,050 SqFt
$ 3,000,000
Est. payment | /mo
13,050 SqFt
Key Details
Property Type Commercial
Sub Type Retail/Stores
Listing Status Active
Purchase Type For Sale
Square Footage 13,050 sqft
Price per Sqft $229
MLS Listing ID 12402207
Annual Tax Amount $30,921
Tax Year 2023
Lot Dimensions 264 X 132
Property Sub-Type Retail/Stores
Property Description
Located at 505-507 E. University Avenue in Champaign, Illinois, this versatile 3,600-square-foot multi-tenant building presents a prime investment opportunity. The property is currently occupied by a liquor store, an international fast-food restaurant, and a therapy center, offering an attractive mix of tenants that appeal to a broad customer base. The available space is delivered in vanilla box condition, allowing future tenants to customize the interior to suit their operational needs. The site offers excellent visibility along University Avenue, one of the busiest east-west thoroughfares in the area, providing outstanding exposure and consistent vehicle and pedestrian traffic. Ample on-site parking enhances accessibility for both tenants and customers, making it a convenient destination for retail, service, or professional office users. Additionally, the property's location near the University of Illinois campus, Carle Foundation Hospital, and OSF Heart of Mary Medical Center further bolsters its appeal by attracting a diverse population of students, medical professionals, and visitors. With a CG - Commercial General zoning designation, this property supports a wide range of commercial uses. Its central location in a densely populated area surrounded by businesses and residential neighborhoods makes it an ideal opportunity for both owner-users and investors looking to capitalize on Champaign's strong economic and demographic growth.
Location
State IL
County Champaign
Area Champaign, Savoy
Zoning COMMR
Interior
Cooling Central Air, Zoned
Fireplace N
Building
Dwelling Type Retail/Stores
Level or Stories 1
© 2025 Listings courtesy of MRED as distributed by MLS GRID. All Rights Reserved.
Listed by Carol Meinhart • The Real Estate Group,Inc
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Sarah Leonard
Broker | Owner