Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search

    23 W North St Danville, IL 61832

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $10 SF/Yr ($11,666 /Mo)

    14,000 SF space suitable for retail, apartments, or pub.

    Property size:
    14,000 SF
    Lot size:
    0.21 Acres

    Property Features for 23 W North St

    General Information

    Size
    14,000 SF
    Lot size
    0.21 Acres

    We can help!

    Listing Contact
    Larry Kuchefski, Ccim
    Source: Moodyscre

    Listing Agent: Larry Kuchefski, Ccim

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Overview

    Versatile Space in Danville, IL

    This property features a 5,000-square-foot main floor, an additional 9,000-square-foot upstairs area, and a full basement. The interior includes wooden floors and tin ceilings throughout. Potential uses for the space include a banquet or meeting hall, retail shop, loft apartments, or a rooftop pub.
    Location Intelligence

    Current Use by Public Records

    Golden Insurance Services ... Auto Insurance Agency Taylor's Trends Boutique Boutique Usagimen Noodle Shop Health Claim Services Insurance Agency

    Suggested Use

    Realty agency Restaurant Law Firm Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Vermilion
    State
    Illinois
    Longitude
    -87.630757
    Latitude
    40.126392

    Nearby Similar for Lease

    • $6 SF/Yr
      10,000 SF

      Downtown Danville Second-Floor Office Suite

      Spacious, ADA-accessible office suite in Downtown Danville with included utilities.
      27 N Vermilion St, Danville, IL 61832
      View Details
    • Contact for pricing
      8,533 SF

      Danville Medical Office Space Available

      Prime Medical Office, Danville, IL - 8,533 SF
      707 Logan Ave, Danville, IL 61832
      View Details
    • $8 SF/Yr
      20,000 SF

      Retail Space in Holiday Square

      20,000 SF retail space available in Danville, Illinois.
      1505 N Bowman Avenue Rd, Danville, IL 61832
      View Details
    • $8 SF/Yr
      35,000 SF

      Danville Industrial Retail Space

      Prime Danville location, 35,000 SF, 20,000 SF vacant.
      1507 Bowman Ave, Danville, IL 61832
      View Details
    • $15 SF/Yr
      14,400 SF

      Danville Crossing Retail Space

      Prime Retail Space Available, Danville, IL
      4111 Vermilion St, Danville, IL 61834
      View Details
    • Contact for pricing
      6,200 SF

      Danville Retail Space: 6,200 SF

      Prime Danville storefront, 6,200 sq ft, 80 parking spaces. High visibility location.
      705 Gilbert St, Danville, IL 61832
      View Details
    • $15 SF/Yr
      14,400 SF

      Danville Crossing Retail Space

      Prime retail space, high traffic area.
      4111 Vermilion St, Danville, IL 61834
      View Details
    • $13 SF/Yr
      13,500 SF

      Danville Retail Building For Sale

      13,500 SF freestanding retail, high traffic.
      842 Main St, Danville, IL 61832
      View Details
    • $15 SF/Yr
      1,330 SF

      Danville Retail Space For Lease

      1330 sq ft, 58 parking spaces
      3216 Vermilion St, Danville, IL 61832
      View Details
    • Contact for pricing
      800 SF

      Meijer In-Store Retail Space

      800 SF Danville, IL Retail Space
      3649 Vermilion St, Danville, IL 61832
      View Details
    • Contact for pricing
      6,840 SF

      Freestanding Retail Building on Gilbert

      6,840 SF freestanding retail building with high visibility.
      704-708 N Gilbert St, Danville, IL 61832
      View Details
    • Contact for pricing
      50,232 SF

      Retail Space on Vermilion Street

      Retail spaces available in Danville, Illinois shopping center.
      2917 N Vermilion St, Danville, IL 61832
      View Details

    FAQs

    What type of property is this?
    Retail space - 14,000 SF space suitable for retail, apartments, or pub.
    Where is this retail space located?
    The property is located at 23 W North St Danville, IL.
    What is the lease rate?
    The lease rate is $10 SF/Yr.
    What are key features of this property?
    This property features: - 5,000 SF main floor with an additional 9,000 SF upstairs and a full basement.; - Potential uses include: banquet/meeting hall, retail shop, loft apartments and rooftop pub.; - Wooden floors throughout.
    (217) 918-0871
    Request Owner's contact information
    23 W North St Danville, IL 61832
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    23 W North St
    Danville, IL 61832
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    23 W North St Danville, IL 61832
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Larry Kuchefski, Ccim
    (217) 918-0871
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.