Champaign, Illinois, is an attractive destination for investors seeking to capitalize on the city's diverse economy and strong educational institutions. With 6 retail properties for sale, Champaign offers a range of opportunities for investors to tap into the local market. Retail properties in Champaign can represent a variety of investments, from strip centers and shopping malls to freestanding buildings and restaurants. The city's strong presence of the University of Illinois and Parkland College creates a significant student population, driving demand for retail services and amenities. Champaign's infrastructure, including 60 parks, 11 trails, and 14 facilities for recreation, also contributes to its appeal. The city's location, with easy access to major highways like I-57, I-72, and I-74, makes it an ideal spot for businesses and residents alike. Additionally, Champaign is home to a number of notable companies, including Jimmy John's, Caterpillar, and ADM, which further enhances its economic vitality.
Champaign's retail properties are situated in a city that boasts a diverse economy, with major sectors including technology and software development, industrial manufacturing, and the information sector. The city's strong educational institutions, including the University of Illinois and Parkland College, provide a steady supply of skilled workers and drive innovation. Shopping centers in Champaign offer a range of retail options, while restaurants in the city cater to a diverse range of tastes and cuisines. Office properties in Champaign are home to a variety of businesses, from startups to established companies, and hotels in the city provide accommodations for visitors and business travelers. With its unique blend of education, innovation, and commerce, Champaign is an attractive destination for investors seeking to capitalize on the city's growth and potential.
What is the average cap rate for retail properties in Champaign?
When it comes to retail properties in Champaign, investors can expect an average cap rate of 6.35%, which is a key indicator of a property's potential return on investment. To better understand how this rate is calculated and what it means for your investment, be sure to check out our article on what is a cap rate, which provides a comprehensive overview of this important metric.
How do location and foot traffic affect retail property values?
In Champaign, Illinois, the location and foot traffic of a retail property play a significant role in determining its value. Properties situated in high-demand areas like Campustown, which caters to the University of Illinois student population, or near major transportation hubs like the Illinois Terminal, tend to command higher prices due to their exposure to a large and consistent customer base, with 6 available listings averaging $657 USD per square foot and ranging in size from 142,681 square feet to 304,588 square feet.
