Retail Building with Two
3546 N Vermilion St Danville, IL 61832
For Sale
Contact for pricing
Pending
Single-tenant-occupied retail building leased to Verizon and Sport Clips under triple net arrangements.
Property Size3,520 SF
Lot Size0.83 Acres
Days on Market105
Property Features for 3546 N Vermilion St
General Information
- Standard status
- Pending
- Size
- 3,520 SF
- Lot size
- 0.83 Acres
- Property subtype
- Retail
Listing Agency:
Marcus & Millichap - Indianapolis
(317) 218-5329
Listed By:
Nathan Whalen · License #IN AB21402364
Source:
Crexi
Added: Apr 11
Changed: Jul 23
Last Checked: Jul 23 at 7:24AM
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 Marcus & Millichap - Indianapolis
Investment Insights
Based on property information with market context.
The property is a 3,520-square-foot retail building originally built in 2016, situated on 0.83 acres. The building is reported to be in great condition with zero deferred maintenance and is currently occupied by its two original tenants, Sport Clips and Verizon.
Both tenants are on triple net leases, creating a hands-off structure for an investor. Verizon signed a ten-year lease in March 2016, with four additional years remaining on the original term, and two five-year option terms following the base term. The lease includes 1% annual rent bumps during the option terms. Sport Clips signed a five-year lease in June 2017 and extended it in 2020, leaving five years remaining on its current term, with annual rent increases and an additional five-year renewal option in 2027.
The building is located off Vermillion St. in Danville, IL, which the listing notes attracts over 21,000 vehicles per day, alongside nearby retailers including Monical’s Pizza, Popeyes, Harbor Freight, Tractor Supply, Lowe’s, and Meijer.
Both tenants are on triple net leases, creating a hands-off structure for an investor. Verizon signed a ten-year lease in March 2016, with four additional years remaining on the original term, and two five-year option terms following the base term. The lease includes 1% annual rent bumps during the option terms. Sport Clips signed a five-year lease in June 2017 and extended it in 2020, leaving five years remaining on its current term, with annual rent increases and an additional five-year renewal option in 2027.
The building is located off Vermillion St. in Danville, IL, which the listing notes attracts over 21,000 vehicles per day, alongside nearby retailers including Monical’s Pizza, Popeyes, Harbor Freight, Tractor Supply, Lowe’s, and Meijer.
Key Highlights
- 3,520 SF retail building built in 2016 on 0.83 acres, currently occupied by two original tenants: Verizon and Sport Clips.
- Verizon lease: 10‑year lease signed March 2016 with four years remaining on the original term plus two additional 5‑year options.
- Triple net leases in place for Verizon and Sport Clips for a more hands‑off ownership structure.
Property Analytics
Location Intelligence
Current Use by Public Records
Verizon
Mobile Phone Store
Sport Clips Haircuts ...
Hair Salon
FAQs
What type of property is this?
NNN property - Single-tenant-occupied retail building leased to Verizon and Sport Clips under triple net arrangements.
Where is this nnn property located?
The property is located at 3546 N Vermilion St Danville, IL.
What are key features of this property?
This property features: 3,520 SF retail building built in 2016 on 0.83 acres, currently occupied by two original tenants: Verizon and Sport Clips.; Verizon lease: 10‑year lease signed March 2016 with four years remaining on the original term plus two additional 5‑year options.; Triple net leases in place for Verizon and Sport Clips for a more hands‑off ownership structure.
