Drive-Through Restaurant
New
For Sale
Contact for pricing
2201 E MAIN ST, Danville, IL 61832
Configured for food service with a kitchen, customer seating, storefront parking, and B-2 Highway Business zoning.
Property Size3,000 SF
Price / SF$125
Days on Market6
Property Features for 2201 E MAIN ST
General Information
Standard status
Active
Size
3,000 SF
Class
C
Total Parking Spaces
24
Property subtype
Retail
Zoning
B-2 Highway Business
Site & Location
Corner Location
Yes
Drive-Thru
Yes
Amenities
full kitchen
service counter
patron seating
walk-in cooler
convenient storefront parking
Building Details
Year Built
1984
Buildings
1
Units
1
Listing Agency:
Realty 54
(217) 918-0871
Listed By:
Larry Kuchefski · License #471.008990
Source:
Crexi
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 9 at 10:23AM
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 Realty 54
Investment Insights
Based on property information with market context.
This 3,000 SF commercial building was built in 1984 and is configured for restaurant operations. The interior includes a full kitchen, service counter, patron seating, and an 18' x 8' walk-in cooler, while a drive-thru window supports customer service from the building. Storefront parking is also provided.
The property occupies a signalized corner along Danville’s east-west corridor at 2201 E Main St. It is directly across from DACC and the VA Hospital and lies within the East Main TIF District. B-2 Highway Business zoning is in place.
The property occupies a signalized corner along Danville’s east-west corridor at 2201 E Main St. It is directly across from DACC and the VA Hospital and lies within the East Main TIF District. B-2 Highway Business zoning is in place.
Key Highlights
- 3,000 SF commercial building constructed in 1984
- Drive‑thru window, full kitchen, service counter, and patron seating
- 18' x 8' walk‑in cooler
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$30,208
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.06%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$604,160
$604.2K
Cap Rate 7%
$431,543
$431.5K
Cap Rate 9%
$335,644
$335.6K
Market Conditions
NOI Build-Up for 3,000 SF
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.
Gross rent
$45.0K $15.00/SF
− Vacancy
−$1.8K −$0.61/SF
EGI
$43.2K $14.39/SF
− OpEx
−$12.9K −$4.32/SF
NOI
$30.2K $10.07/SF
Area
Vermilion County, IL
Vacancy
4.10%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$604,160
Cap Rate 7%
$431,543
Cap Rate 9%
$335,644
Alternative Uses
Best Use
Specialty Retail
$584.4K
$511.4K – $681.9K
NOI $40,911 @ 7.0% cap · market cap 10.91%
Second Best
Retail
$431.5K
$377.6K – $503.5K
NOI $30,208 @ 7.0% cap · market cap 8.06%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
232
Businesses Nearby
Balanced
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 Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Conventional restaurant - Configured for food service with a kitchen, customer seating, storefront parking, and B-2 Highway Business zoning.
Where is this conventional restaurant located?
The property is located at 2201 E MAIN ST Danville, IL.
What is the asking price?
The asking price for this property is $375,000.
What are key features of this property?
This property features: 3,000 SF commercial building constructed in 1984; Drive‑thru window, full kitchen, service counter, and patron seating; 18' x 8' walk‑in cooler
