1803-1809 Philo RdUrbana, IL 61802

Property Details for 1803-1809 Philo Rd

Lot size

1.22 AC

Property size (Sq ft)

25,576 SF

Property type

Lifestyle centers

Property subtype

Power centers

Description

This exceptional investment opportunity presents a 25,576-square-foot shopping center in Urbana, Illinois, strategically located less than one mile from the University of Illinois, a major university with over 55,000 students. The property boasts a strong tenant lineup, including Planet Fitness, Hot Spot LLC, Sister Sister's, Scrub N' Cuts, and Well Experience, resulting in a 92.48% occupancy rate. The center offers a compelling 9.00% cap rate and a price per square foot of $72.33, representing a significant value-add opportunity. The property features five tenants with varying lease terms and rent bumps. Built in 2010, the 1.22-acre lot benefits from a high population density, with over 120,000 residents within a five-mile radius. The Planet Fitness location is operated by a large franchisee with over 120 locations nationwide, ensuring stability and operational expertise. Nearby national retailers include Walgreens, CVS, McDonald's, Burger King, Papa Johns, Meijer, and Circle K, further enhancing the property's visibility and appeal. The asking price is $1,850,000, and seller financing options are available. The Net Operating Income (NOI) is $166,286. This property is an ideal investment for those seeking a stable, high-performing retail asset in a vibrant university town.

Location Insight

City

Urbana

County

Champaign

State

Illinois

Latitude

40.0959

Longitude

-88.1918

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