Updated Feb 17, 2025
Ravel Properties LLC Sells 182084 Square Foot Industrial Asset In Champaign For $11.5M
2802 West Bloomington Road
$11,500,000
$63/SF
Building Size
182,084 SF
Asset Type
Industrial
Closing
Feb 17, 2025
About this deal
AI
The property involved in this transaction is an industrial asset located at 2802 Bloomington Road in Champaign. The sale price for this 182,084-square-foot warehouse was $11,500,000, translating to a price per square foot of $63. The asset encompasses 30 acres of land, indicating significant space for operational uses.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $11,500,000
- Address: 2802 Bloomington Road
- Market: Champaign
- Square Footage: 182,084
- Price per Square Foot: $63
- Seller: Ravel Properties LLC
- Broker: AJ Thoma III - Coldwell Banker Commercial Devonshire Realty
AJ Thoma III represented the seller, Ravel Properties LLC, in this transaction. The facility is intended for utilization by an agricultural chemical company, showcasing its strategic operational purpose within the Champaign market.
Players
Champaign Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.38%
Cash-on-Cash
-0.39%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93