900 East Main Street, Danville, IL 61832

Building Details

Year Built 2010 More

Buildings 1 More

Tenancy Single More

Listing Agency: Pharma Property Group

Listed By: Jason Pongsrikul · License CA #01918332 Show Phone

Source: Crexi

Added: Oct 21 Changed: Nov 8 Last Checked: Nov 8 at 3:58PM

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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 Pharma Property Group

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Review the available facts, identify missing information and prepare questions for the agent.

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Investment Insights

Based on property information with market context.

The freestanding drug store contains approximately 13,225 square feet and was built in 2010. CVS has a lease obligation through January 30, 2035, backed by a corporate guarantee during the base term. A rent-free period begins February 1, 2032.

The property fronts East Main Street (IL-1), a north-south arterial in Danville, with access to US Route 150 and Danville Mass Transit.

Key Highlights

• 13,225‑square‑foot freestanding drug store
• Constructed in 2010
• CVS lease obligation through January 30, 2035, with a corporate guarantee during the base term

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$180,349

Cap Rate

6.43%

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,606,980 $3.6M

Cap Rate 7%

$2,576,414 $2.6M

Cap Rate 9%

$2,003,878 $2.0M

Is this asking price fair?

Market Conditions

NOI Build-Up for 13,225 SF

Gross rent

$250.7K $18.96/SF

− Vacancy

−$10.3K −$0.78/SF

EGI

$240.5K $18.18/SF

− OpEx

−$60.1K −$4.55/SF

NOI

$180.3K $13.64/SF

Area

Vermilion County, IL

Vacancy

4.10%

Lease Rate

$18.96 /SF/Yr

Expense Ratio

25.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$3,606,980

Cap Rate 7%

$2,576,414

Cap Rate 9%

$2,003,878

Alternative Uses

Best Use

Specialty Retail

$2.58M

$2.25M – $3.01M (±1% cap)

NOI $180,349 @ 7.0% cap · market cap 6.43%

Second Best

Retail

$1.90M

$1.66M – $2.22M (±1% cap)

NOI $133,169 @ 7.0% cap · market cap 4.75%

Theoretical Best

—

—

same as Best Use

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

Drug stores

Suggested Use

Top Pick Real Estate Agency Grocery & Convenience Store (Bike/Boat/Book/etc) Store Locksmith Hair Salon Catering 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.

Lease Details

Single-tenant

Tenancy

Yes

Highway access

Yes

Paved road access

Location Intelligence

Trade Area within ½ mile

243

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 Retail in Midwest region

8% 2020

7.3% 2021

6.5% 2022

6% 2023

5.7% 2024

6.3% 2025

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Similar Off Market Nearby

• Walgreens Pharmacy — 842 E Main St, Danville, IL 61832
• Marie Tam, RPh — 842 E Main St, Danville, IL 61832
• Mark D. Reeves, PharmD — 842 E Main St, Danville, IL 61832
• Cameron Norton — 842 E Main St, Danville, IL 618325957
• COVID-19 Drive-Thru Testing at Walgreens — 842 E Main St, Danville, IL 61832

Frequently Asked Questions

What type of property is this?

Drug store - A corporate-guaranteed CVS lease runs through January 2035, with a rent-free period beginning in 2032.

Where is this drug store located?

The property is located at 900 East Main Street Danville, IL.

What is the asking price?

The asking price for this property is $2,806,392.

What are key features of this property?

This property features: 13,225‑square‑foot freestanding drug store; Constructed in 2010; CVS lease obligation through January 30, 2035, with a corporate guarantee during the base term