Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    3232 N Vermilion St Danville, IL 61832

    Loading data...
    Loading data...
    Loading data...
    For Sale
    $299,000

    4000 sq ft showroom on a busy corner lot.

    Lot size:
    0.62 Acres

    Property Features for 3232 N Vermilion St

    General Information

    Standard status
    Active
    Lot size
    0.62 Acres

    We can help!

    Listing Contact
    Steve Diveley
    Source: Exprealty

    Listing Agency: Classic Homes Realty Listing Agent: Steve Diveley

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

    Learn more

    Property Insight Report

    Overview

    Corner Lot Showroom on Vermilion

    This 4000 sq ft building is located on a corner lot along the North Vermilion Street corridor, which has a traffic count of 20,000 cars per day. The interior features a spacious showroom, ample storeroom areas, and eight rooms. These rooms could serve as small offices, be transformed into cubicles, or be removed to expand the floor space. A two-car garage is located at the back of the property and is included in the sale. The single membrane roof is five years old.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    B & J Music ... Music Store

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Auto Repair Shop Hair Salon Clothing Store

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

    Similar Places Nearby

    Wood's Flooring Services, Danville's Flooring Warehouse

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Vermilion
    State
    Illinois
    Longitude
    -87.630281
    Latitude
    40.175104

    Nearby Similar for Sale

    • $549,000

      Versatile Office Space Near Hospitals

      9,381 SF office building ideal for medical or professional use.
      701 W Fairchild St, Danville, IL 61832
      View Details
    • $599,900
      0.50 Acres

      Established Bar & Grill Opportunity

      Turnkey bar and grill with equipment in southeast Danville.
      3124 Perrysville Rd, Danville, IL 61834
      View Details
    • $135,000
      0.08 Acres

      Historic Storefront in Downtown Danville

      Preserved historic storefront with high visibility and modern functionality.
      57 N Vermilion St, Danville, IL 61832
      View Details
    • $55,000

      Danville, IL Residential Income Property

      Three-unit residential income property in Danville, Illinois, fully leased.
      409 Chandler St, Danville, IL 61832
      View Details
    • $50,000

      Danville, IL Residential Income Property

      Duplex suitable for cash flow or owner-occupancy with rental income.
      716 Robinson St, Danville, IL 61832
      View Details
    • $650,000
      0.92 Acres

      Operating Motel with Development Potential

      33-room motel with land on a strategic arterial corridor.
      1824 E Main St, Danville, IL 61832
      View Details
    • $90,000
      0.12 Acres

      Danville Duplex with Rental Income

      Two-unit duplex in Danville, Illinois, fully rented and managed.
      123 N Gilbert St, Danville, IL 61832
      View Details
    • New
      $55,000
      Pending

      Danville Brick Duplex For Sale

      Brick duplex with one-bedroom units, centrally located and professionally managed.
      1003 N Franklin St, Danville, IL 61832
      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 St, Danville, IL 61832
      View Details
    • $1,950,000
      28,312 SF

      401-407 N Franklin St, Danville, IL

      Office buildings • 28,312 SF
      401-407 N Franklin St, Danville, IL 61832
      View Details
    • $435,000

      Two-Story Office Building with Warehouse

      Two-story office building with walk-out basement and warehouse space.
      2500 N Vermilion St, Danville, IL 61832
      View Details
    • $189,500

      Commercial Building with Expansion Potential

      Well-maintained commercial building with two units and expansion opportunity.
      809 N Gilbert St, Danville, IL 61832
      View Details

    FAQs

    What type of property is this?
    Showroom - 4000 sq ft showroom on a busy corner lot.
    Where is this showroom located?
    The property is located at 3232 N Vermilion St Danville, IL.
    What is the asking price?
    The asking price for this property is $299,000.
    What are key features of this property?
    This property features: - High-traffic location on North Vermilion St corridor (20,000 cars per day).; - Spacious 4000 sq ft building with flexible floor plan.; - Includes a 2-car garage.
    (217) 304-0208
    Request Owner's contact information
    3232 N Vermilion St Danville, IL 61832
    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.
    3232 N Vermilion St
    Danville, IL 61832
    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
    3232 N Vermilion St Danville, IL 61832
    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

    We can help!
    Listing Contact
    Steve Diveley
    (217) 304-0208
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.