Two-Tenant Retail Investment
For Sale
Contact for pricing
302 W Fairchild St, Danville, IL 61832
Fully occupied retail property with long-term leases and built-in rent growth.
Property Size3,000 SF
Price / SF$230.22
Days on Market229
Property Features for 302 W Fairchild St
General Information
Standard status
Active
Size
3,000 SF
Property subtype
Retail
Occupancy
100%
Lease Type
NNN
Net Operating Income
$62,159
Building Details
Buildings
1
Stories
1
Units
2
Tenancy
Multi
Listing Agency:
Bellagio Real Estate Partners
Listed By:
Connor Oke · License #RB23002366
(765) 293-2933
Source:
Crexi
Added: Feb 18
Changed: Sep 10
Last Checked: Oct 4 at 7:00AM
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 Bellagio Real Estate Partners
Investment Insights
Based on property information with market context.
This 100% occupied, two-tenant retail property is located at the signalized corner of Gilbert Street and Fairchild Street. The property is leased to Bajco 100, LLC, a large private franchisee of Papa Johns in North America with over 275 locations, and The Joint Smoke Shop, a regional operator with five locations across Illinois and Indiana. The asset benefits from strong visibility, convenient access from both Gilbert Street and Fairchild Street, and ample on-site parking with over 35 spaces. The property is positioned adjacent to a high-performing Dollar General. National retailers in the surrounding area include Walgreens, CVS, Dollar Tree, Hardee’s, Sonic, Domino’s, and AutoZone. The surrounding trade area is supported by over 40,000 residents within a five-mile radius. This offering features long-term leases with built-in rent growth and presents a stabilized, low-management investment in e-commerce-resistant retail categories within a strong neighborhood retail corridor. The property size is 3000 square feet.
Key Highlights
- 100% occupied, two‑tenant retail property providing immediate income.
- Located at a signalized corner with high visibility and convenient access.
- Long‑term leases with built‑in rent growth offer a stabilized investment.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,208
Cap Rate
4.37%
Suggested Prices Based on Cap Rates
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
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 Rate 5%
$604,160
Cap Rate 7%
$431,543
Cap Rate 9%
$335,644
Alternative Uses
Best Use
Retail
$431.5K
$377.6K – $503.5K
NOI $30,208 @ 7.0% cap · market cap 4.37%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$584.4K
$511.4K – $681.9K
NOI $40,911 @ 7.0% cap · market cap 5.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
864
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
Check the figures for this property
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 - Fully occupied retail property with long-term leases and built-in rent growth.
Where is this retail space located?
The property is located at 302 W Fairchild St Danville, IL.
What is the asking price?
The asking price for this property is $690,655.
What are key features of this property?
This property features: 100% occupied, two‑tenant retail property providing immediate income.; Located at a signalized corner with high visibility and convenient access.; Long‑term leases with built‑in rent growth offer a stabilized investment.
