STATE LEASE INVESTMENT OFFERING

For Sale

407 N Franklin St, Danville, IL 61832

This Danville property for sale is located at 407 N Franklin St. The current listed sale price for STATE LEASE INVESTMENT OFFERING is $1,950,000. STATE LEASE INVESTMENT OFFERING is situated on a lot that is 1.13 acre in size.

Contacts

broker
AJ Thoma III

Coldwell Banker Commercial Devonshire Realty

Property Details

  • Property Type Office - General Office
  • Lot Size 1.13 Acre
  • Additional Rent Contact for pricing
  • Year Built 1981
  • Year Renovated 1997
  • Date Updated Dec 21, 2024
Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to exclusively offer for sale this multi-tenant Value-Add Investment Property. Subject property is located just north of Downtown Danville. Danville is the county seat of Vermilion County located in eastern Illinois adjacent to the state line of Indiana. Danville is 35 miles east of Champaign, IL via I-74, 93 miles northwest of Indianapolis, IN via I-74, and 130 miles south of Chicago via Rt. 1. The property is currently leased to the State of Illinois occupying 401 N. Franklin/407C N. Franklin., Danville Area Community College (DACC) in 407B N. Franklin, and currently 3,412 SF (usable SF) vacant at 407A N. Franklin. The Illinois Department of Central Management Services (CMS) is a code department of the Illinois state government that is generally responsible for certain state properties, acquisitions, and services. Specifically the space houses; The Illinois Department of Children and Family Services (DCFS) is the code department of the Illinois state government responsible for child protective services occupying 11,700 SF, and The Illinois Department of Human Services is the code department of the Illinois state government responsible for providing a wide variety of safety net services to Illinois residents in poverty, who are facing other economic challenges, or who have any of a variety of disabilities or health challenges occupying 5,586 SF. Danville Area Community College (DACC) is a community college in Danville, Illinois. It was founded in 1946 as an extension of the University of Illinois; it has grown into an independent college offering courses in 76 areas of study occupying 6,204 SF.
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Highlights

  • Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to exclusively offer for sale this multi-tenant Value-Add Investment Property. Subject property is located just north of Downtown Danville. Danville is the county seat of Vermilion County located in eastern Illinois adjacent to the state line of Indiana. Danville is 35 miles east of Champaign, IL via I-74, 93 miles northwest of Indianapolis, IN via I-74, and 130 miles south of Chicago via Rt. 1.
  • Lot Size: 1-2 Acres
  • NOI - $146,029.09 Gross Income (2019) - $208,009.00 Total Expenses (2019) - $61,978.91 Cap Rate - 10.23% RE: $33,520.92

Getting around

  • 31/100

    Walk Score ®

  • 40/100

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Location

  • City Danville, IL
  • Zip Code 61832

Points of Interest

  • Shell

    2.71 miles

  • Murphy USA

    5.22 miles

  • Fast Stop

    5.55 miles

  • Love's

    9.89 miles

  • Phillips 66

    9.97 miles

  • Speedway

    9.98 miles

  • Parking Garage

    2.27 miles

  • Kickapoo Mountain Biking Trailhead

    6.88 miles

  • Rest Area I-74 (West Bound)

    8.17 miles

  • Days Inn

    2.45 miles

  • Holiday Inn Express & Suites Danville

    2.54 miles

  • Hampton Inn & Suites Danville

    2.56 miles

  • Best Western Regency Inn

    2.60 miles

  • Sleep Inn & Suites Danville

    2.66 miles

  • Super 8

    2.69 miles

  • Quality Inn & Suites

    2.76 miles

  • Red Roof

    2.78 miles

  • Silver Dollar Inn

    6.92 miles

  • Ruler Foods

    0.72 miles

  • Save-A-Lot

    1.38 miles

  • Danville County Market, Towne Center

    2.11 miles

  • Big Lots

    2.53 miles

  • ALDI

    2.75 miles

  • Village Mall

    3.41 miles

  • Meijer

    4.28 miles

  • Kohl's

    4.41 miles

  • Walmart Supercenter

    5.19 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker
broker
AJ Thoma III

Coldwell Banker Commercial Devonshire Realty