1405 Florida AveUrbana, IL 61801

Property Details for 1405 Florida Ave

Lot size

0.59 AC

Property type

Commercial real estate

APN

932121126046

APU

932121126046

Description

This exceptional one-story office building, situated at 1405 E Florida Ave in Urbana, Illinois, presents a compelling investment opportunity. Built in 1976, the property boasts a total of 5,973 square feet, encompassing a main level of 3,451 square feet and a fully finished basement adding another 2,522 square feet of usable space. The brick exterior is complemented by four convenient exterior entrances, making it ideally suited for multi-tenant occupancy. Currently housing a State Farm office, the building's layout includes eleven private offices and open work areas, catering to a variety of professional uses. Its location on the Philo Road Retail Corridor, just one mile from the University of Illinois campus, ensures high visibility and significant traffic exposure. The combined average daily traffic (ADT) count on E Florida Ave and Philo Rd exceeds 13,000 vehicles. The property sits on a 25,700 square foot lot and features a sprinkler system. The asking price is $340,000, translating to $56.92 per square foot. The property is zoned B3 and is offered fee simple. This is a rare opportunity to acquire a well-located, versatile office building with significant upside potential.

• Alternative Use

  Use

  Valuation

  Residential

  $9,453,662

  Hospitality

  $8,659,503

  Educational

  $7,204,605

  Medical

  $7,452,382

  Retail

  $11,207,164

Location Insight

City

Urbana

County

Champaign

State

Illinois

Latitude

40.098

Longitude

-88.1917

CBSA code

16580

CBSA name

CHAMPAIGN-URBANA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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