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1803-1809 Philo Rd
Urbana, IL 61802
Retail Property For Sale
Executive Summary
Colliers is pleased to introduce this value-add retail center at 1803-1809 Philo Rd, Urbana, IL. The multi-tenant property totals 25,576 SF, including a 13,332 SF vacant Planet fitness JR box. The center sits on the Philo Road retail corridor, roughly two miles from the University of Illinois campus, with strong daytime population and steady, student-driven demand. The opportunity lies in filling the vacant Jr box.
The property spans approximately 25,576 square feet on a 1.22-acre lot and was originally constructed in 1965. With the anchor vacant, the offering is priced on a per-square-foot basis well below replacement cost rather than on in-place income.
The property spans approximately 25,576 square feet on a 1.22-acre lot and was originally constructed in 1965. With the anchor vacant, the offering is priced on a per-square-foot basis well below replacement cost rather than on in-place income.
Property Facts
Sale Type
Investment
Property Type
Retail
Property Subtype
Supermarket
Building Size
25,576 SF
Building Class
C
Year Built
1965
Price
$1,023,040
Price Per SF
$40
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.48
Lot Size
1.22 AC
Zoning
B-3 - General Business District
Amenities
- Security System
- Signage
Property Taxes
| Parcel Number | 93-21-21-126-050 | Improvements Assessment | $431,960 |
| Land Assessment | $62,370 | Total Assessment | $494,330 |
Property Taxes
Parcel Number
93-21-21-126-050
Land Assessment
$62,370
Improvements Assessment
$431,960
Total Assessment
$494,330
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