735 N Logan Ave, Danville, IL 61832

Building Details

Year Built 1978 More

Year Renovated 2010 More

Listing Agency: Realty 54

Listed By: Larry Kuchefski · License IL 471.008990 Show Phone

Source: Crexi

Added: Aug 16, 2019 Changed: Nov 8 Last Checked: Nov 8 at 6:41AM

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Investment Insights

Based on property information with market context.

The property, originally constructed in 1978 and expanded in 2010, is located across the street from OSF Hospital, surrounded by numerous other medical offices. The office space includes 13 exam rooms, a large reception area, a check-in and check-out station, a records office, three additional offices, and a lab area. The property also features a full basement with a break room, additional office space, exam rooms, and a file room. The total property size is 5304 square feet. Furniture, fixtures, and equipment (FF&E) are negotiable.

Key Highlights

• Prime location across the street from OSF Hospital, ideal for medical professionals
• Thirteen exam rooms, suitable for a large medical practice
• Expanded in 2010, offering modern and updated facilities

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$64,295

Cap Rate

6.59%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,285,900 $1.3M

Cap Rate 7%

$918,500 $918.5K

Cap Rate 9%

$714,389 $714.4K

Is this asking price fair?

Market Conditions

NOI Build-Up for 5,304 SF

Gross rent

$116.5K $21.96/SF

− Vacancy

−$9.3K −$1.76/SF

EGI

$107.2K $20.20/SF

− OpEx

−$42.9K −$8.08/SF

NOI

$64.3K $12.12/SF

Area

Vermilion County, IL

Vacancy

8.00%

Lease Rate

$21.96 /SF/Yr

Expense Ratio

40.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$1,285,900

Cap Rate 7%

$918,500

Cap Rate 9%

$714,389

Alternative Uses

Best Use

Healthcare Medical

$918.5K

$803.7K – $1.07M (±1% cap)

NOI $64,295 @ 7.0% cap · market cap 6.59%

Second Best

Office B

$762.1K

$666.8K – $889.1K (±1% cap)

NOI $53,345 @ 7.0% cap · market cap 5.47%

Theoretical Best

Specialty Retail

$1.03M

$904.1K – $1.21M (±1% cap)

NOI $72,331 @ 7.0% cap · market cap 7.42%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Who owns this building? See the owner, sales and loan history

Open Analytics

Current Use

Family Practice Medical Clinic Sadiq Naveed I ... Physician Sadiq Raja M ... Pediatrician Kara K. Wangler, ... Physician Kara Sharpf Physician

Suggested Use

Top Pick Building Supply Real Estate Agency Big Box & Wholesale Store Parking Lot & Garage Electrical Service HVAC Service

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

808

Businesses Nearby

Well-served

Demand for This Use

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

Market

Vacancy Rate% for Office in Midwest region

13.7% 2019

15.6% 2020

17.1% 2021

18.9% 2022

21% 2023

22% 2024

21.3% 2025

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Frequently Asked Questions

What type of property is this?

Medical Office Space - Medical office building with exam rooms and basement near hospital.

Where is this medical office space located?

The property is located at 735 N Logan Ave Danville, IL.

What is the asking price?

The asking price for this property is $975,000.

What are key features of this property?

This property features: Prime location across the street from OSF Hospital, ideal for medical professionals; Thirteen exam rooms, suitable for a large medical practice; Expanded in 2010, offering modern and updated facilities