42-Unit Hotel with Interior
For Sale
Contact for pricing
360 Eastgate Dr, Danville, IL 61834
Two-story hospitality property with on-site manager’s quarters and a 2023 Baymont conversion.
Property Size30,584 SF
Price / SF$80.11
Days on Market191
Property Features for 360 Eastgate Dr
General Information
Standard status
Active
Size
30,584 SF
Property subtype
Hospitality
Additional Details
Opportunity Zone
Yes
Amenities
interior corridors
on-site manager's quarters
Building Details
Year Built
1995
Year Renovated
2023
Stories
3
Listing Agency:
BPG Hotels
Listed By:
Andrew Post · License #CA 01960611
Source:
Crexi
Added: Apr 8
Changed: Oct 11
Last Checked: Oct 12 at 8:45PM
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 BPG Hotels
Investment Insights
Based on property information with market context.
The property is a 42-unit, two-story hotel totaling 30,584 square feet. Built in 1995, it completed a Baymont conversion in 2023 and includes interior corridors, refreshed infrastructure, and on-site manager’s quarters. The property is currently operated under absentee ownership, with the manager’s residence supporting an on-site management arrangement.
Located at 360 Eastgate Dr in Danville, Illinois, the hotel is positioned within an Opportunity Zone and is eligible for USDA financing. Revenue increased 10% year over year following the brand transition. Recent capital improvements accompanied the conversion, and the property combines an established hospitality layout with updated branding and operating features.
Located at 360 Eastgate Dr in Danville, Illinois, the hotel is positioned within an Opportunity Zone and is eligible for USDA financing. Revenue increased 10% year over year following the brand transition. Recent capital improvements accompanied the conversion, and the property combines an established hospitality layout with updated branding and operating features.
Key Highlights
- 42‑unit hotel with 30,584 square feet
- Two‑story building constructed in 1995
- Baymont conversion completed in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$191,762
Cap Rate
7.83%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,835,240
$3.8M
Cap Rate 7%
$2,739,457
$2.7M
Cap Rate 9%
$2,130,689
$2.1M
Market Conditions
NOI Build-Up for 30,584 SF
Gross rent
$458.8K $15.00/SF
− Vacancy
−$55.1K −$1.80/SF
EGI
$403.7K $13.20/SF
− OpEx
−$211.9K −$6.93/SF
NOI
$191.8K $6.27/SF
Area
Vermilion County, IL
Vacancy
12.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
52.50%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$3,835,240
Cap Rate 7%
$2,739,457
Cap Rate 9%
$2,130,689
Alternative Uses
Best Use
Hotel Hospitality
$2.74M
$2.40M – $3.20M
NOI $191,762 @ 7.0% cap · market cap 7.83%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$5.96M
$5.21M – $6.95M
NOI $417,073 @ 7.0% cap · market cap 17.02%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
Explore this area
Business Placement
Demographics for 61834, IL
7,895
Population
2,811
Households
2.8
Avg Household Size
45
Median Age
20%
College-Educated
86%
High-School Grad
106.9 sq mi
ZIP Area
74
Density / Sq Mi
$80,901
Median Household Income
$42,411
Median Earnings
$853
Median Rent
$162,000
Median Home Value
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Frequently Asked Questions
What type of property is this?
Hotel - Two-story hospitality property with on-site manager’s quarters and a 2023 Baymont conversion.
Where is this hotel located?
The property is located at 360 Eastgate Dr Danville, IL.
What is the asking price?
The asking price for this property is $2,450,000.
What are key features of this property?
This property features: 42‑unit hotel with 30,584 square feet; Two‑story building constructed in 1995; Baymont conversion completed in 2023
