Add Listing
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    22864 St Rte 1 Danville, IL 61834

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Sale
    Contact for pricing

    5 acre commercial land with frontage on N. Vermilion.

    Type:LAND
    Lot size:
    5.10 Acres
    Added:
    Feb 18, 2025
    Days on Market:
    420
    Last Refresh:
    Apr 5 at 11:09 pm

    Property Features for 22864 St Rte 1

    General Information

    Standard status
    Active
    Lot size
    5.10 Acres
    Property subtype
    LAND

    We can help!

    Listing Contact
    Larry Kuchefski, CCIM
    Larry Kuchefski, CCIM

    Listing agent Larry Kuchefski, CCIM

    Listing office Coldwell Banker Commercial Devonshire Realty

    Listing date Feb 18, 2025

    Source Moodyscre

    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 Coldwell Banker Commercial Devonshire Realty

    Overview

    5 Acre Commercial Land Parcel

    This property features 5 acres of commercial land with 404 feet of frontage along North Vermilion Street, also known as State Route 1.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Restaurant Law Firm Building Supply Spa & Massage Center Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon Gym & Fitness Center Auto Parts Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Vermilion
    State
    Illinois
    Longitude
    -87.6312
    Latitude
    40.2032

    Nearby Similar for Sale

    • $415,000

      Versatile Commercial Property Near I-74

      Updated commercial property with living, workspace, and investment potential.
      176 S Henning Road, Danville, IL 61832
      View Details
    • $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
    • $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
    • $8,500

      Corner Lot in Danville, IL

      Corner lot offers convenience to restaurants, shopping, and amenities.
      616 Robinson Street, Danville, IL 61832
      View Details
    • $37,900

      Danville Land with Creek Frontage

      6.33 acres with no zoning and creek frontage.
      2920 Vine Street, Danville, IL 61834
      View Details
    • $549,000

      Commercial Property in Danville, IL

      Commercial property for sale in Danville, Illinois.
      701 W Fairchild Street, Danville, IL 61832
      View Details
    • $79,900

      Danville Brick Duplex For Sale

      Brick duplex in Danville, Illinois, with rental income potential.
      1003 N Franklin Street, 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
    • $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
    • $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
    • $995,000

      Commercial Land with High Frontage

      1.6 acre commercial site with significant frontage on Gilbert.
      130 S. Gilbert Danville, IL 61832
      View Details

    FAQs

    What type of property is this?
    Land - 5 acre commercial land with frontage on N. Vermilion.
    Where is this land located?
    The property is located at 22864 St Rte 1 Danville, IL.
    What is the asking price?
    The asking price for this property is $445,000.
    What are key features of this property?
    This property features: 5 acres of land; **404' frontage on N. Vermilion (St. Rte 1)**; Property on N. Vermilion (St. Rte 1)
    (217) 918-0871 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Larry Kuchefski, CCIM
    Larry Kuchefski, CCIM
    Learn More
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!