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401 - 407 N Franklin St. Danville, IL 61832

View on Map
For Sale
$1,950,000

28,312 SF State Lease Investment Offering

Property size:
28,312 SF
Lot size:
1.13 Acres
Added:
Apr 9, 2025
Days on Market:
364
Last Refresh:
Mar 16 at 9:06 am

Property Features for 401 - 407 N Franklin St.

General Information

Standard status
Active
Property type
Other office properties, Office buildings, Other investment properties, Office properties & Spaces, Investment properties
Size
28,312 SF
Elevators
N/A
Lot size
1.13 Acres
Investment Type
Value Add
Net Operating Income
$146,029

Building Details

Year Built
1981
Year Renovated
1997
Buildings
1
Stories
1

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Listing Contact
Aj Thoma Iii Ccim, Sior

Listing agent Aj

Listing office

Listing date Apr 9, 2025


Overview

28,312 SF Investment Opportunity

This multi-tenant investment property, totaling 28,312 square feet, is located just north of Downtown Danville, Illinois. Danville is the county seat of Vermilion County, situated in eastern Illinois adjacent to the Indiana state line. The property is 35 miles east of Champaign, IL, 93 miles northwest of Indianapolis, IN, and 130 miles south of Chicago. The property is currently leased to the State of Illinois, occupying 401 N. Franklin and 407C N. Franklin, and Danville Area Community College (DACC) in 407B N. Franklin. There is currently 3,412 square feet of usable space vacant at 407A N. Franklin. The Illinois Department of Children and Family Services (DCFS) occupies 11,700 square feet, and The Illinois Department of Human Services occupies 5,586 square feet. Danville Area Community College (DACC) occupies 6,204 square feet. The property has a net operating income of $146,029.09, with a gross income of $208,009.00 and total expenses of $61,978.91 in 2019. The property has a cap rate of 10.23% and real estate taxes of $33,520.92. The lot size is 1.13 acres.
Location Intelligence

Current Use by Public Records

DCFS Social Service Agency Family Service Department Social Service Agency

Suggested Use

Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Center Auto Repair Shop

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

Location Insight

  • Map
  • Local Demand
City
Danville
County
Vermilion
State
Illinois
Longitude
-87.6307
Latitude
40.1365

FAQs

What type of property is this?
Office property - 28,312 SF State Lease Investment Offering
Where is this office property located?
The property is located at 401 - 407 N Franklin St. Danville, IL.
What is the asking price?
The asking price for this property is $1,950,000.
More about this property
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