703 Miami St

Investment Highlights

Security Lights

Executive Summary

This outstanding commercial property, zoned B-2 General Business, is just 6 blocks from downtown Urbana and offers 3,570 square feet of usable space. This property is situated in a prime location with excellent exposure on Miami Street (US Hwy 36 and State Route 29) which is the main, East/West Street through Urbana. Nearby are 3 major regional attractions to include Crabill's Hamburgers being next door to the West and the Depot Coffee House and the hub of Simon Kenton Bike Path, just across the Street to the East. Two major industries are within walking distance, ORBIS Manufacturing being just behind the property and Weidmann Electrical Technology to the North. Also, the former Q3/Johnson Manufacturing Company building is to the East and has just completed a nearly $2 million renovation with 3 new businesses to include Community Health and Wellness, True Inspections Services (TIS) and The Door Shop, a commercial door company. The building was built in 3 sections and could potentially be made into a multi-tenant property. The original building was built in 1991 and consists of 1,152 sq ft of office space and warehouse. In 1994, a 1024 sq ft addition was added which double the size of the building and includes a large retail showroom. In 1997, another 1403 sq ft was added to allow for a second showroom and additional warehouse. Each unit has separate furnaces and there are 2 air conditioning units. There are 3 bathrooms, one in each unit, 2 are handicap accessible. The property offers a blacktop parking lot which was sealed and striped in September 2020. The entire roof was replaced in August 2015 and all HVAC units were inspected and serviced in June 2022. The white vinyl fence, on the West side of the parking lot belongs to this property and is on the property line. Seller has original blueprints on site for review. Possible uses are endless with some being office space, retail, restaurant, a carry out and so much more. Additional info is available.

• Sale Type    Investment or Owner User
• Property Type    Retail
• Property Subtype    Retail
• Building Size    3,579
• Year Built/Renovated    1991/1997
• Price    399,900
• Price Per SF    112
• Percent Leased    Vacant
• Tenancy    Multiple
• Building Height    1 Story
• Building FAR    0.26
• Land Acres    0.32 AC