Flex Facility With Two
For Sale
$1,200,000
1 South St, Danville, IL 61832
Commercial facility combines dedicated shop areas with office space and a connecting breezeway.
Property Size15,904 SF
Price / SF$75.45
Days on Market87
Property Features for 1 South St
General Information
Standard status
Active
Size
15,904 SF
Warehouse & Industrial
Clear Height
16 ft
Office Build-Out
1,600 SF
Additional Details
Highway Access
Yes
Building Details
Year Built
2017
Building Size
15,904 SF
Listing Agency:
KELLER WILLIAMS-TREC
Listed By:
Clayton Maddox · License #475189441
(217) 356-6100
Source:
Realtopiare
Added: Jul 20
Changed: Sep 13
Last Checked: Oct 7 at 1:58PM
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.
Built in 2017, this flex facility includes two shop areas, an office, and a breezeway within approximately 15,904 square feet. Shop 1 measures 96' by 88' for approximately 8,448 square feet, while Shop 2 measures 60' by 88' for approximately 5,280 square feet. The 24' by 24' breezeway adds approximately 576 square feet, and the 32' by 50' office contributes approximately 1,600 square feet.
The building provides 16' ceiling height and 14' overhead door height. Its commercial setting includes access to I-74, with the property situated within a TIF District and an Enterprise Zone. The existing configuration supports a combination of shop, office, and flex-space functions.
The building provides 16' ceiling height and 14' overhead door height. Its commercial setting includes access to I-74, with the property situated within a TIF District and an Enterprise Zone. The existing configuration supports a combination of shop, office, and flex-space functions.
Key Highlights
- 15,904 sqft +/- total building area
- Two shop areas: 8,448 sqft +/- and 5,280 sqft +/-
- 16' ceiling height
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$97,858
Cap Rate
8.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,957,160
$2.0M
Cap Rate 7%
$1,397,971
$1.4M
Cap Rate 9%
$1,087,311
$1.1M
Market Conditions
NOI Build-Up for 15,904 SF
Gross rent
$126.0K $7.92/SF
− Vacancy
−$10.8K −$0.68/SF
EGI
$115.1K $7.24/SF
− OpEx
−$17.3K −$1.09/SF
NOI
$97.9K $6.15/SF
Area
Vermilion County, IL
Vacancy
8.60%
Lease Rate
$7.92 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,957,160
Cap Rate 7%
$1,397,971
Cap Rate 9%
$1,087,311
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.
How Realmo checks its estimates
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 - Commercial facility combines dedicated shop areas with office space and a connecting breezeway.
Where is this flex space located?
The property is located at 1 South St 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: 15,904 sqft +/- total building area; Two shop areas: 8,448 sqft +/- and 5,280 sqft +/-; 16' ceiling height
