Warehouse Building with Overhead
For Sale
$1,200,000
1 South Street, Danville, IL 61832
COMMERCIAL - Danville, IL
Property Size15,904 SF
Lot Size1.91 Acres
Price / SF$75.45
Days on Market25
Property Features for 1 South Street
General Information
Property type
Commercial Sale
Property subtype
Other
Zoning
COMMR
Directions
From Georgetown Rd, Head East on Southgate Dr. Continue North on S Hodge St and building will be located on the East side of the Road
Subdivision
Confidential Commercial Listings
Standard status
Active
APN
23-20-201-023
Lot size
1.91 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
8238
Building Details
Year built
2017
Floors in Building
1
Listing Agency:
KELLER WILLIAMS-TREC · Keller Williams Realty
(217) 356-6100
Listed By:
Clayton Maddox · License #475189441
(217) 356-6100
Added: Jul 8
Last Checked: Aug 1 at 9:06AM
MLS# 12698474
Copyright © 2026 Midwest Real Estate Data, LLC. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This property is a meticulously maintained, flex-style commercial building designed to support multiple business types. It includes two shop spaces: Shop 1 at 96' x 88' (8,448 sq. ft. +/-) and Shop 2 at 60' x 88' (5,280 sq. ft. +/-). A 24' x 24' breezeway (576 sq. ft. +/-) connects the areas, and there is an office sized 32' x 50' (1,600 sq. ft. +/-). Total building area is 15,904 sq. ft. +/-. Ceiling height is listed at 16', with overhead door height at 14'.
The building is positioned within Tilton’s Commercial district, with access to I-74 described in the remarks. The property is also located within Tilton’s TIF District #3 and within an Enterprise Zone, both noted as potential considerations for business owners. The offering is listed as a for-sale transaction.
With separate shop spaces plus an office, the layout can support a range of operational needs for tenants seeking adaptable manufacturing, storage, or service-oriented space alongside office space. The commercial zoning classification (COMMR) aligns with a variety of commercial uses, and the overhead door clear height supports practical loading and work-in-shop activity.
The building is positioned within Tilton’s Commercial district, with access to I-74 described in the remarks. The property is also located within Tilton’s TIF District #3 and within an Enterprise Zone, both noted as potential considerations for business owners. The offering is listed as a for-sale transaction.
With separate shop spaces plus an office, the layout can support a range of operational needs for tenants seeking adaptable manufacturing, storage, or service-oriented space alongside office space. The commercial zoning classification (COMMR) aligns with a variety of commercial uses, and the overhead door clear height supports practical loading and work-in-shop activity.
Key Highlights
- Built in 2017 commercial facility in Tilton’s Commercial district with total approx. 15,904 sqft +/−
- Shop 1: 96' x 88' (approx. 8,448 sqft +/−) with 16' ceiling height and 14' overhead door height
- Shop 2: 60' x 88' (approx. 5,280 sqft +/−) for flexible business use
Financial Insights For Warehouse
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $126.0k | $7.92 |
| − Vacancy | −$10.8k | −$0.68 |
| EGI | $115.1k | $7.24 |
| − OpEx | −$17.3k | −$1.09 |
| NOI | $97.9k | $6.15 |
15,904 SF · lease $7.92/SF/yr · vacancy 8.60% · expense 15.00%
Alternative Uses
Best Use
Warehouse
$1.40M
$1.22M – $1.63M
NOI $97,858 @ 7.0% cap · market cap 8.15%
Second Best
Industrial
$1.15M
$1.01M – $1.34M
NOI $80,589 @ 7.0% cap · market cap 6.72%
Theoretical Best
Specialty Retail
$3.10M
$2.71M – $3.61M
NOI $216,883 @ 7.0% cap · market cap 18.07%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
16 ft
Clear height
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
813
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 61832, IL
32,878
Population
16,390
Households
2
Avg Household Size
40
Median Age
17%
College-Educated
90%
High-School Grad
27.3 sq mi
ZIP Area
1,204
Density / Sq Mi
$45,264
Median Household Income
$37,288
Median Earnings
$805
Median Rent
$78,400
Median Home Value
Market
Vacancy Rate% for Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - A flex-style warehouse with multiple shop bays and office space, zoned COMMR and served by 14' overhead doors.
Where is this flex space located?
The property is located at 1 South Street Danville, IL.
What is the asking price?
The asking price for this property is $1,200,000.
What are key features of this property?
This property features: Built in 2017 commercial facility in Tilton’s Commercial district with total approx. 15,904 sqft +/−; Shop 1: 96' x 88' (approx. 8,448 sqft +/−) with 16' ceiling height and 14' overhead door height; Shop 2: 60' x 88' (approx. 5,280 sqft +/−) for flexible business use
