Turn-Key Commercial Buildings For
For Sale
$649,000
2412 Georgetown Road, Danville, IL 61832
2.82-acre property with three commercial buildings, two turn-key.
Property Size5,800 SF
Lot Size2.82 Acres
Price / SF$111.90
Days on Market149
Property Features for 2412 Georgetown Road
General Information
Standard status
Active
Size
5,800 SF
Total Parking Spaces
35
Lot size
2.82 Acres
Zoning
COM
Taxes and HOA fees
Annual Taxes
$8,060
Amenities
One
yes
1
Gas Water Heater
Central Air
Forced Air
Appraiser
Metal
Public Sewer
no
Public
2.82
35
Acres
Asphalt
Slab
2.82 acres
122839
Other
Building Details
Year Built
2012
Stories
1
Listed By:
Josh Burgener
(217) 820-0182
Source:
Jburgenerrealty.idxbroker
Added: May 16
Changed: Sep 30
Last Checked: Oct 9 at 4:27PM
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 Josh Burgener
Investment Insights
Based on property information with market context.
This 2.82-acre property features three commercial buildings. Two buildings are ready-to-go, turn-key opportunities. The third building is leased, providing passive income. The first building, spans over 5,800 square feet and features 3 overhead doors. All equipment will stay with the building, including a 6-color auto press, one infrared power house heater, one infrared quartz heater, a 6-station manual head, a washing and drying station, 4 embroidery machines, a direct-to-garment machine, and so much more. The second building, spans over 1,450 square feet and was remodeled in 2020. As you enter, you will find a reception area, a waiting room, a bathroom, a laundry room, and 8 tanning rooms. All 7 lay-down beds were replaced in 2020. There is one stand-up bed that will convey with the building as well. The third building, which is leased out, spans over 1,440 square feet. The renters pay their own power and water bills.
Key Highlights
- 2.82‑acre property with three commercial buildings
- Two turn‑key commercial buildings ready for immediate business operation
- One building is currently leased, providing immediate passive income
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$58,403
Cap Rate
9.00%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,168,060
$1.2M
Cap Rate 7%
$834,329
$834.3K
Cap Rate 9%
$648,922
$648.9K
Market Conditions
NOI Build-Up for 5,800 SF
Gross rent
$87.0K $15.00/SF
− Vacancy
−$3.6K −$0.61/SF
EGI
$83.4K $14.39/SF
− OpEx
−$25.0K −$4.32/SF
NOI
$58.4K $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 Rate 5%
$1,168,060
Cap Rate 7%
$834,329
Cap Rate 9%
$648,922
Alternative Uses
Best Use
Retail
$834.3K
$730.0K – $973.4K
NOI $58,403 @ 7.0% cap · market cap 9.00%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.13M
$988.7K – $1.32M
NOI $79,094 @ 7.0% cap · market cap 12.19%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
91
Businesses Nearby
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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Midwest region
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Frequently Asked Questions
What type of property is this?
Retail space - 2.82-acre property with three commercial buildings, two turn-key.
Where is this retail space located?
The property is located at 2412 Georgetown Road Danville, IL.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: 2.82‑acre property with three commercial buildings; Two turn‑key commercial buildings ready for immediate business operation; One building is currently leased, providing immediate passive income
