Flex Space with High Ceiling
For Sale
$1,200,000
1 South Street, Danville, IL 61832
Flex space built in 2017 with two shops, office space, a breezeway, and 16-foot ceiling height.
Property Size15,904 SF
Price / SF$75.45
Days on Market25
Property Features for 1 South Street
General Information
Standard status
Active
Size
15,904 SF
Property subtype
Commercial
Warehouse & Industrial
Clear Height
16 ft
Office Build-Out
1,600 SF
Additional Details
Highway Access
Yes
Building Details
Building Size
15,904 SF
Year Built
2017
Buildings
1
Listing Agency:
KELLER WILLIAMS-TREC
(217) 356-6100
Listed By:
Clayton Maddox · License #475189441
(217) 356-6100
Source:
Perillorealestategroup
Added: Jul 8
Changed: Jul 31
Last Checked: Jul 31 at 12:26PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of KELLER WILLIAMS-TREC
Investment Insights
Based on property information with market context.
This flex space facility was built in 2017 and is set up with multiple components for business use. It includes Shop 1 (96' x 88', 8,448 +/- SF), Shop 2 (60' x 88', 5,280 +/- SF), a breezeway (24' x 24', 576 +/- SF), and an office (32' x 50', 1,600 +/- SF). The total building size is 15,904 +/- SF, with a 16' ceiling height and a 14' overhead door height.
The property is located in Tilton’s commercial district and described as having great access to I-74. It is within Tilton’s TIF District #3 and also within an Enterprise Zone.
The layout supports a tenant looking for a combination of shop and office areas within one facility, with the added advantage of a breezeway connecting spaces.
The property is located in Tilton’s commercial district and described as having great access to I-74. It is within Tilton’s TIF District #3 and also within an Enterprise Zone.
The layout supports a tenant looking for a combination of shop and office areas within one facility, with the added advantage of a breezeway connecting spaces.
Key Highlights
- Total building size 15,904 +/- SF with two shops, breezeway, and office
- Shop 1: 96' x 88' (8,448 +/- SF) and Shop 2: 60' x 88' (5,280 +/- SF)
- Office area: 32' x 50' (1,600 +/- SF)
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
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 - Flex space built in 2017 with two shops, office space, a breezeway, and 16-foot ceiling height.
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: Total building size 15,904 +/- SF with two shops, breezeway, and office; Shop 1: 96' x 88' (8,448 +/- SF) and Shop 2: 60' x 88' (5,280 +/- SF); Office area: 32' x 50' (1,600 +/- SF)
