401 Franklin St Danville, IL 61832
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Multi-tenant office building, high cap rate.
Property size:
28,312 SFProperty Features for 401 Franklin St
General Information
- Property type
- Individual retail properties
- Square Feet
- 28,312 SF
- Class
- B
- Lot Size
- 49,223 SF
Building Details
- Year Built/Renovated
- 1981/1997
- Stories
- 1
Listing Agency: Coldwell Banker Commercial Devonshire Realty Listing Agent: Aj Thoma Iii, Ccim, Sior
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional investment opportunity presents a 28,312 square foot, multi-tenant office building located at 401-407 N Franklin St, Danville, IL 61832. The property, built in 1981 and renovated in 1997, sits on a 1.13-acre lot and boasts a desirable B-4 Central Business zoning. Currently, the building houses several prominent tenants including the Illinois Department of Children and Family Services (11,700 sq ft), the Illinois Department of Human Services (5,586 sq ft), and Danville Area Community College (6,204 sq ft). An additional 3,412 square feet of usable space is currently vacant, presenting a value-add opportunity for potential investors. The building features a single story and is classified as a Class B property with a modified lease type. The asking price is $1,950,000, representing a compelling 10.00% capitalization rate. Its strategic location just north of downtown Danville offers convenient access to I-74, providing easy commutes to Champaign (35 miles), Indianapolis (93 miles), and Chicago (130 miles). The property's strong tenant base, coupled with the vacant space, makes it an attractive investment prospect with significant upside potential. The APN is 23-05-320-050, -051, -052.
Property Profile
Location Intelligence
Current Use by Public Records
DCFS
Social Service Agency
Family Service Department
Social Service Agency
Location Insight
- Map
- Local Demand
- City
- Danville
- County
- Vermilion
- State
- Illinois
- Longitude
- -87.58981
- Latitude
- 40.13271
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FAQs
What type of property is this?
Individual retail property - Multi-tenant office building, high cap rate.
Where is this individual retail property located?
The property is located at 401 Franklin St Danville, IL.
What is the asking price?
The asking price for this property is $1,950,000.
What are key features of this property?
This property features: 28,312 SF multi-tenant office building on 1.13 acres in Danville, IL.; Built in 1981, renovated in 1997, B-4 zoning.; Strong tenant occupancy including state agencies and Danville Area Community College.
