FREESTANDING RETAIL – FORMER CVS

Property Description

This former CVS Pharmacy is a well-maintained, freestanding commercial building offering over 16,000 square feet of flexible retail or medical space on 1.35 acres (two parcels). The building includes a functional drive-thru pharmacy lane, 77 dedicated parking spaces, 3-phase power (1,200 Amps, 208Y/120V), 16.5-foot clear ceiling heights above a 14-foot drop ceiling, and a large walk-in display cooler, supporting a wide range of high-traffic uses including healthcare, grocery, specialty retail, quick-service concepts, fitness, or financial services. Designed for maximum visibility and accessibility, the property features an efficient interior layout, prominent signage opportunities, dual ingress/egress, and infrastructure that significantly reduces tenant build-out costs. Built to modern commercial standards and exceptionally maintained, the site presents a move-in ready opportunity for tenants seeking a high-quality facility with strong infrastructure. The property is currently available for sublease, offering flexible occupancy terms.

Area Description

The subject property is located at the intersection of Philo Road and Colorado Avenue, directly across from Salt & Light. It lies within one of Urbana’s primary neighborhood business districts, serving the surrounding residential community with a mix of retailers, restaurants, and professional offices. The district is conveniently situated just five minutes from the University of Illinois campus. Nearby points of interest include the Sunnycrest Center and major national retailers such as McDonald’s, Papa John’s Pizza, Planet Fitness, Dollar Tree, U-Haul, and Meijer. The area is also surrounded by numerous residential subdivisions and apartment communities, including The Pointe at U of I University Housing.