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    401-407 N Franklin St Danville, IL 61832

    For Sale
    $1,950,000

    Office buildings

    Property size:
    28,312 SF
    Lot size:
    1.08 Acres

    Property Features for 401-407 N Franklin St

    General Information

    Size
    28,312 SF
    Lot size
    1.08 Acres

    Source: Coldwell Banker Commercial Devonshire Realty Agent AJ Thoma III

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    - Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to exclusively offer for sale this multi-tenant Value-Add Investment Property. Subject property is located just north of Downtown Danville. Danville is the county seat of Vermilion County located in eastern Illinois adjacent to the state line of Indiana. Danville is 35 miles east of Champaign, IL via I-74, 93 miles northwest of Indianapolis, IN via I-74, and 130 miles south of Chicago via Rt. 1.
    - The property is currently leased to the State of Illinois occupying 401 N. Franklin/407C N. Franklin., Danville Area Community College (DACC) in 407B N. Franklin, and currently 3,412 SF (usable SF) vacant at 407A N. Franklin. The Illinois Department of Central Management Services (CMS) is a code department of the Illinois state government that is generally responsible for certain state properties, acquisitions, and services. Specifically the space houses; The Illinois Department of Children and Family Services (DCFS) is the code department of the Illinois state government responsible for child protective services occupying 11,700 SF, and The Illinois Department of Human Services is the code department of the Illinois state government responsible for providing a wide variety of safety net services to Illinois residents in poverty, who are facing other economic challenges, or who have any of a variety of disabilities or health challenges occupying 5,586 SF. Danville Area Community College (DACC) is a community college in Danville, Illinois. It was founded in 1946 as an extension of the University of Illinois; it has grown into an independent college offering courses in 76 areas of study occupying 6,204 SF.
    Location Intelligence

    Current Use by Public Records

    Office buildings

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Vermilion
    State
    Illinois
    Longitude
    -87.632654
    Latitude
    40.131866

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    FAQs

    Where is this office building located?
    The property is located at 401-407 N Franklin St Danville, IL.
    What is the asking price?
    The asking price for this property is $1,950,000.
    What are key features of this property?
    This property features: - Leased to the State of Illinois (DCFS & DHS) and DACC, providing stable income.; - Value-add investment: **3,412 SF of vacant space** offers potential for increased revenue.; - Strategic location just north of Downtown Danville, the county seat.
    (217) 520-3299
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    401-407 N Franklin St Danville, IL 61832
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    Danville, IL 61832
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    Realmo Value Estimation

    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.

    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.

    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
    401-407 N Franklin St Danville, IL 61832
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