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    57 N Vermilion St Danville, IL 61832

    View on Map
    Sponsored
    For Sale
    $135,000

    COMMERCIAL - Danville, IL

    Type:Retail
    Lot size:
    0.08 Acres
    Days on Market:
    138
    Last Refresh:
    Mar 21 at 8:06 pm

    Property Features for 57 N Vermilion St

    General Information

    Property type
    Commercial Sale
    Property subtype
    Retail
    Standard status
    Active
    Zoning
    COMMR
    APN
    23082140710000
    Lot size
    0.08 Acres

    Utilities

    Utilities
    Water Available
    Cooling system
    Central Air

    Building Details

    Year built
    1920
    Floors in Building
    1
    Number of units
    1
    Flooring type
    Vinyl
    Building materials
    Brick

    We can help!

    Listing Contact
    Darnell Cox
    Darnell Cox

    RE/MAX Realty Associate

    Listing agent Darnell Cox

    Listing date Nov 3, 2025

    MLS# 12469567

    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.

    Learn more

    Property Insight Report

    Overview

    Historic Storefront in Downtown Danville

    Located in the heart of downtown Danville, the property at 57 N. Vermilion is a historic storefront suitable for retail or office use. The space features classic architectural elements, including original exposed brick walls and paneling, a decorative tin ceiling, and period-style pendant lighting. Large display windows provide natural light and street visibility, complemented by two custom-built front display alcoves with electrical outlets. The open floor plan offers flexibility for various uses, such as retail, office, or a creative studio. The property includes a limited-use kitchen and a single restroom, along with existing shelving, counter space, and storage solutions. A glass storefront door, marked with suite number 57, provides access from a busy downtown corner. A historic Wall Dogs mural adorns the side of the building. The property benefits from high foot and vehicle traffic, situated across from local shops and near municipal buildings. A new roof with a 30-year warranty was installed in 2024. The property is located in a vibrant community with walkable streets. The annual property tax amount of $2,593.00 includes the property to the East. The county is in the process of splitting the tax amount for each space, which will result in a lower tax amount.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Storefront properties

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Vermilion
    State
    Illinois
    Longitude
    -87.629871
    Latitude
    40.125518

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    FAQs

    What type of property is this?
    Storefront property - Preserved historic storefront with modern functionality in downtown Danville.
    Where is this storefront property located?
    The property is located at 57 N Vermilion St Danville, IL.
    What is the asking price?
    The asking price for this property is $135,000.
    What are key features of this property?
    This property features: - High-visibility location in the heart of downtown Danville with excellent foot and vehicle traffic.; - Beautifully preserved historic storefront with original exposed brick, decorative tin ceiling, and period-style lighting.; - Large display windows and custom-built display alcoves for maximum street visibility and product showcasing.
    (217) 352-5700
    Request Owner's contact information
    57 N Vermilion St Danville, IL 61832
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    Danville, IL 61832
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    57 N Vermilion St Danville, IL 61832
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    We can help!
    Listing Contact
    Darnell Cox
    Darnell Cox
    Real Estate License ID: 471022439
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