Diverse: restaurants, gym, spa, bakery, grocery, and more
4
Unit Sizes
12 units at 1,500 sqft, two at 2,236 sqft
Located in Wal-Green's shadow, close to University of Illinois & Carle Health, QSRs, retail, cannabis dispensary, and other strip centers.
Location and Traffic
Situated at 510 N Cunningham Ave., Urbana, Illinois 61802, this retail center benefits from high visibility and traffic. The intersection of Cunningham & University sees 37,600 cars per day, ensuring consistent exposure for tenants.
37.6K
Daily Traffic
Cars passing the intersection daily
14
Units
Diverse retail spaces
22.4K
Square Feet
Total retail space
Financial Highlights
Key Figures
Property Value: $2,000,000.00
Loan Amount: $1,000,000.00
Equity: $1,000,000.00
Cap Rate: 9.75%
Income and Expenses
Gross Scheduled Income: $318,525.00
Vacancy Loss: $15,926.00
Expenses: $107,567.25
NOI: $195,031.75
Tenant Update and Lease Information
As of 12/1/2024, tenant #9 will be moving to #7 at $1/sqft/month + $6.78 NNN for the remainder of their lease (50 months). A girls dance studio, will occupy #9 with a 3-year lease at $1/ft/month + $6.78 NNN. The next renewal is March 2025 for #14 (El Oasis, end cap with drive-through). February 2025 the lease for the City of Urbana in #6 expires. It is possible they extend their lease.
Ownership and Management
1
Ownership Structure
TIC (Tenants in Common) with 3 owners
2
Property Owner
Bearhorn Et Al
3
Management
Only Epic Holdings 4350 Brownsboro Rd, Suite 110, Louisville, KY 40207
4
Exclusive Listing Broker
Spencer Schelp for Swick Realty schelp@gmail.com 217.823.3110
Investment Potential
This retail center offers a strong investment opportunity with its 100% occupancy, diverse tenant mix, and prime location seeing 34,600 CPD at the intersection of Cunningham & University. Offered at a 9.75% cap rate with $195,031.75 annual cash flow. Recent lease renewals and net-new tenants indicate a stable and attractive property for long-term investment.
Placer.AI data
Area Demographics Overview
Population Trends (2018-2022)
1 Mile
3 Miles
5 Miles
2022 Income Distribution
2022 Income Distribution
Key 2022 Metrics
Median Age (1 Mile)
Median Income (1 Mile)
Total Employees (1 Mile)
Housing Occupancy Rate
Primary employment sectors within 1 mile: Education (University of Illinois) & Healthcare (Carley Health) (9,769), Management & Business (10,262), and Retail Trade (2,148). The area shows a predominantly younger population with high renter ratio (2:1) and steady population trends.
T-9, Rent Roll:
One-time fees that should be walked out of Expenses:
5011 Lease Commission/Coordination Fee $5,865.00
5107 Make Ready $1,530.89 (#6 clean out)
5108 Other Repairs $3,792.00 (masonry calk of exterior)
5109 Plumbing $2,216.00 (pipe burst / repair from winter storm)