Danville Mixed-Use Center For
610 N Gilbert St Danville, IL 61832
610 N Gilbert St, Danville, IL, 61832
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For Sale
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Value-add mixed-use center in Danville with diverse tenant mix.
Property Size8,133 SF
Price / SF$215.17
Days on Market972
Property Features for 610 N Gilbert St
General Information
- Standard status
- Active
- Size
- 8,133 SF
- Property subtype
- Retail
Building Details
- Year Built
- 1969
Listing agency
Realty 54
(217) 918-0871
Listed by
Larry Kuchefski · License #471.008990
Source
Crexi
Added: Nov 22, 2023 Updated: Jul 6 at 8:37AM Checked: Jul 17 at 11:06AM
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 Realty 54
Investment Insights
Based on property information with market context.
This mixed-use center, constructed in 1969, is available for sale. Originally built for home goods, sporting equipment, and construction supplies, the building has been divided into five storefronts. Recent additions include Industry Labs, Full Access Healthcare, and Swing Sports, complementing long-term tenants Aunt Martha’s Medical Group and Rent-A-Center. The property is currently 75% occupied. Located 140 miles south of Chicago and 90 miles west of Indianapolis, Danville is home to museums and shops. The city offers a range of activities, including the Danville Dans baseball team, the NJCAA Division II Men’s National Basketball Tournament, ice skating, canoeing, horseback riding, and hiking. The property is located in Danville, Illinois.
Key Highlights
- Value‑added, mixed‑use center with cash flow and upside potential.
- Diverse tenant mix including Industry Labs, Full Access Healthcare, Swing Sports, Aunt Martha’s Medical Group, and Rent‑A‑Center.
- Current occupancy rate of 75%.
Local Financial Insights For Retail
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $122.0k | $15.00 |
| − Vacancy | −$5.0k | −$0.61 |
| EGI | $117.0k | $14.39 |
| − OpEx | −$35.1k | −$4.32 |
| NOI | $81.9k | $10.07 |
8,133 SF · lease $15.00/SF/yr · vacancy 4.10% · expense 30.00%
Alternative Uses
Best Use
Retail
$1.17M
$1.02M – $1.36M
NOI $81,895 @ 7.0% cap · market cap 4.68%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.58M
$1.39M – $1.85M
NOI $110,910 @ 7.0% cap · market cap 6.34%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Shopping centers
Similar For Sale Nearby
FAQs
What type of property is this?
Shopping center - Value-add mixed-use center in Danville with diverse tenant mix.
Where is this shopping center located?
The property is located at 610 N Gilbert St Danville, IL.
What is the asking price?
The asking price for this property is $1,750,000.
What are key features of this property?
This property features: Value‑added, mixed‑use center with cash flow and upside potential.; Diverse tenant mix including Industry Labs, Full Access Healthcare, Swing Sports, Aunt Martha’s Medical Group, and Rent‑A‑Center.; Current occupancy rate of 75%.
