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Planet Fitness Anchored Shopping Center 1803-1809 Philo Rd

25,576 SF 100% Leased Retail Building Urbana, IL 61802 $1,850,000 ($72/SF) 8.99% Cap Rate

Investment Highlights

  • Located Less Than 1-Mile From the University of Illinois Urbana- Champaign, Illinois’ Largest University, Featuring Over 55,000 Students
  • Planet Fitness is Operated and Guaranteed By One of the Largest Franchisees (Black Duck Partners) in the Industry
  • Attractive Price Per Square Foot - Less Than $73 Per Square Foot
  • The University of Illinois is Ranked as the #12 Best Public University in the Country (U.S. News 2023-2024 Report)
  • Surrounding National Retailers Include Walgreens, CVS, McDonald's, Burger King, Papa Johns, Meijer and Circle K
  • Low Occupancy Cost For Planet Fitness, With a Base Rent of $8.50 Per Square Foot, Allowing For Improved Business Economics

Executive Summary

Sands Investment Group is Pleased to Exclusively Offer For Sale the 25,576 SF  Planet Fitness Anchored Shopping Center Located at  1803-1809 Philo Road  in Urbana, IL. This Property is Located Less Than 1-Mile From the University of Illinois Urbana-Champaign, Illinois’ Largest University, Featuring Over 55,000 Students. 

In Cooperation With Sands Investment Group Illinois, LLC - Lic. #481013714 BoR: Andrew Ackerman - Lic. IL #471021429

Property Facts

Sale Type
Investment
Property Type
Retail
Property Subtype
Supermarket
Building Size
25,576 SF
Building Class
C
Year Built/Renovated
1965/2010
Price
$1,850,000
Price Per SF
$72
Cap Rate
8.99%
NOI
$166,286
Percent Leased
100%
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.48
Land Acres
1.22 AC
Zoning
B-3 - General Business District

Amenities

  • Security System
  • Signage

MAJOR TENANTS

  • Tenant
  • Industry
  • SF OCCUPIED
  • RENT/SF
  • Lease Type
  • Lease End
  • Hot Spot LLC.
  • Retailer
  • 1,342 SF
  • -
  • Double Net
  • Sep 2028
  • Planet Fitness
  • Retailer
  • 13,332 SF
  • -
  • Double Net
  • Dec 2026
  • Scrub N' Cuts
  • Retailer
  • 1,524 SF
  • -
  • Modified Gross
  • Jan 2025
  • Sister Sister's
  • Retailer
  • 609 SF
  • -
  • Modified Gross
  • Aug 2025
  • Well Experience
  • Accommodation and Food Services
  • 5,790 SF
  • -
  • Modified Gross
  • Aug 2030
  • Well Experience (Expansion)
  • Accommodation and Food Services
  • 1,056 SF
  • -
  • Modified Gross
  • Sep 2027
Tenant Industry SF OCCUPIED RENT/SF Lease Type Lease End
Hot Spot LLC. Retailer 1,342 SF - Double Net Sep 2028
Planet Fitness Retailer 13,332 SF - Double Net Dec 2026
Scrub N' Cuts Retailer 1,524 SF - Modified Gross Jan 2025
Sister Sister's Retailer 609 SF - Modified Gross Aug 2025
Well Experience Accommodation and Food Services 5,790 SF - Modified Gross Aug 2030
Well Experience (Expansion) Accommodation and Food Services 1,056 SF - Modified Gross Sep 2027

Space Availability

  • Space
  • Size
  • Space Use
  • Position
  • Available
  • 1809 - F
  • 1,525 SF
  • Retail
  • End Cap
  • 30 Days

Suite F is located on the south side of the building and faces Salt & Light. The space was a former dry cleaner and most recently a dog grooming business. The space has two sections a front open area and a back area. There is a restroom and storage room in the back of the space. The space makes for a nice retail area and has drive-through capabilities. The anchor tenant of the center is Planet Fitness. Signage is available along Philo Rd.

Space Size Space Use Position Available
1809 - F 1,525 SF Retail End Cap 30 Days

1809 - F

Size
1,525 SF
Space Use
Retail
Position
End Cap
Available
30 Days

1809 - F

Size 1,525 SF
Space Use Retail
Position End Cap
Available 30 Days

Suite F is located on the south side of the building and faces Salt & Light. The space was a former dry cleaner and most recently a dog grooming business. The space has two sections a front open area and a back area. There is a restroom and storage room in the back of the space. The space makes for a nice retail area and has drive-through capabilities. The anchor tenant of the center is Planet Fitness. Signage is available along Philo Rd.

Bike Score ®
Very Bikeable (73)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
93-21-21-126-050
Land Assessment
$53,790
Improvements Assessment
$372,520
Total Assessment
$426,310
  • Listing ID: 32385559

  • Date on Market: 7/9/2024

  • Last Updated:

  • Address: 1803-1809 Philo Rd, Urbana, IL 61802

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