Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Two-Story Office Building with Warehouse Title is generated by Realmo AI

    2500 N Vermilion Street, Danville, IL 61832

    View on Map
    Claim this Listing
    For Sale
    $435,000

    6,157 SF office building with walk-out basement and warehouse.

    Type:Office
    Property size:
    6,157 SF
    Price / SF:
    $70/SF
    Added:
    May 8, 2024
    Days on Market:
    754
    Last Refresh:
    May 13 at 8:23 pm

    Property Features for 2500 N Vermilion Street

    General Information

    Standard status
    Active
    Size
    6,157 SF
    Property subtype
    Office

    Building Details

    Year Built
    1977

    We can help!

    Listing Contact
    Thomas Restivo

    Listing agent Thomas Restivo

    Listing office SVN

    Listing date May 8, 2024

    Source Xome

    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 SVN

    HighLights

    • Prime location on North Vermilion in a high‑traffic area with excellent visibility and accessibility.
    • 6,157 square foot two‑story office building with walk‑out basement and warehouse space.
    • Proven rent history, making it an attractive investment for steady rental income.
    • Versatile office space across two floors.
    • Warehouse area with an 8‑foot garage door/loading dock for operational efficiency.
    • Three balconies for outdoor enjoyment.

    Overview

    This 6,157 square foot two-story office building features a walk-out basement and warehouse space. Located on North Vermilion, the property has a proven rent history. The main building provides versatile office space across two floors, along with three balconies. A spacious walk-out basement offers additional flexibility. The warehouse area includes an 8-foot garage door/loading dock. Situated in a main traffic area running north/south, the property benefits from excellent visibility and accessibility.
    Property Profile Location Intelligence

    Current Use by Public Records

    Dimond Bros. Insurance ... Insurance Agency

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Vermilion
    State
    Illinois
    Longitude
    -87.6307
    Latitude
    40.1365

    Nearby Similar for Sale

    • $500,000

      American Inn Motel For Sale

      34-room motel with development potential in Danville, Illinois.
      1824 E Main Street, Danville, IL 61832
      View Details
    • $399,900

      Versatile Updated Commercial Property

      Updated property with living, workspace, and investment potential.
      176 S Henning Road, Danville, IL 61832
      View Details
    • $135,000

      Historic Storefront in Downtown Danville

      Preserved historic storefront with modern functionality in downtown Danville.
      57 N Vermilion Street, Danville, IL 61832
      View Details
    • $129,900

      Danville Multifamily Investment Opportunity

      Five units with value-add potential in Danville, Illinois.
      716 Robinson Street, Danville, IL 61832
      View Details
    • $699,000
      5,800 SF

      Turn-Key Commercial Buildings For Sale

      2.82-acre property with three commercial buildings, two turn-key.
      2412 Georgetown Road, Danville, IL 61832
      View Details
    • $400,000
      7,824 SF

      Danville Transportation Warehouse For Sale

      7,824 SF transportation warehouse on 1.6 acres in Danville, IL.
      200 E 14th St, Danville, IL 61832
      View Details
    • $275,000
      35,000 SF

      Historic Danville Office Building For Sale

      Two-story, 35,000 SF office building with redevelopment potential.
      17 W North St Danville, IL 61832
      View Details
    • $450,000
      3,600 SF

      Office Building with Private Offices

      Office space featuring private offices, conference room, and break room.
      306 N Gilbert St, Danville, IL
      View Details
    • $1,500,000
      13,500 SF

      Stand-Alone Retail Building For Sale

      13,500 SF stand-alone retail building on Danville's main corridor.
      842 E Main, Danville, IL 61832
      View Details
    • $731,300
      3,000 SF

      Two-Tenant Retail Investment Opportunity

      Fully occupied retail property with long-term leases and built-in rent growth.
      302 W Fairchild St, Danville, IL 61832
      View Details
    • $5,963,000
      126,153 SF

      Retail

      2917 N Vermilion St, Danville, IL 61832
      View Details
    • $545,000
      10,000 SF

      Restaurant with Banquet Room For Sale

      Restaurant with lower level banquet room and seasonal seating.
      3605 N Vermilion St, Danville, IL
      View Details

    FAQs

    What type of property is this?
    Office building - 6,157 SF office building with walk-out basement and warehouse.
    Where is this office building located?
    The property is located at 2500 N Vermilion Street Danville, IL.
    What is the asking price?
    The asking price for this property is $435,000.
    What are key features of this property?
    This property features: Prime location on North Vermilion in a high‑traffic area with excellent visibility and accessibility.; 6,157 square foot two‑story office building with walk‑out basement and warehouse space.; Proven rent history, making it an attractive investment for steady rental income.
    We can help!
    Listing Contact
    Thomas Restivo
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    2500 N Vermilion Street, Danville, IL 61832
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!