For Sale
$1,350,000

2208 Springfield Ave Champaign, IL 61821

12-Bay Self-Service Car Wash, High Traffic Area

Overview

Added:
Dec 11, 2024
Days on market:
133
This exceptional investment opportunity presents a 7,680 square foot, twelve-bay self-service car wash located at 2208 W Springfield Ave, Champaign, IL 61821. Built in 1979, this block building sits on a 0.75-acre lot (APN: 41-20-10-451-027) and boasts 3-phase, 600-amp electrical service. Currently featuring twelve bays, six were inoperable in 2023 but will be fully operational by June 2024. Internal space includes a central storage area, mechanical/maintenance room, and a restroom. The property enjoys a prime location on a high-traffic arterial road (Springfield Avenue), seeing 16,200 vehicles daily. Surrounding businesses include national chains like Burger King, Taco Bell, Papa Johns, Dunkin Donuts, and Circle K, as well as regional banks. The property's zoning is CG - Commercial General. A potential cross-access parking agreement may be needed with the adjacent property at 2206 W. Springfield Ave. This property is also available for purchase in conjunction with the neighboring property. Noteworthy is the strong historical net operating income (NOI): $184,858 in 2023, $192,711 in 2022, and $198,209 in 2021. The asking price is $1,350,000, translating to $175.78 per square foot.

Highlights

  • $1,350,000 asking price for a 7,680 SF retail property.
  • 12-bay self-service car wash, built in 1979.
  • Located at 2208 W Springfield Ave, Champaign, IL 61821, on a 0.75-acre lot (APN: 41-20-10-451-027).
  • Features 3-phase, 600-amp electrical service; all twelve bays will be operational by June 2024.
  • 2023 NOI: $184,858; 2022 NOI: $192,711; 2021 NOI: $198,209.
  • High-traffic location (16,200 vehicles per day) on Springfield Avenue, near national and regional retailers.

Property Details for 2208 Springfield Ave

Property type
Retail properties
Square Feet
7,680 SF
Year Built
1979
Lot Size (sq. ft)
32,670 SF

Location Insight

City
Champaign
County
Champaign
State
Illinois
Latitude
40.1133871
Longitude
-88.285232

FAQs

What type of property is this?
Retail property - 12-Bay Self-Service Car Wash, High Traffic Area
Where is the retail property located?
The property is located at 2208 Springfield Ave Champaign, IL.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: $1,350,000 asking price for a 7,680 SF retail property.; 12-bay self-service car wash, built in 1979.; Located at 2208 W Springfield Ave, Champaign, IL 61821, on a 0.75-acre lot (APN: 41-20-10-451-027).
How can I contact the broker?
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2208 Springfield Ave
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