Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    306 Fairchild St Danville, IL 61832
    Back to Search
    Property profile & analytics

    306 Fairchild St, Danville, IL 61832

    View on Map
    • Retail properties & Spaces
    • 3,000 SF
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Jimmy John's / Take-out & Catering / Catering Service

    Property Details for 306 Fairchild St

    Year built
    1991
    Property type
    Retail properties & Spaces
    Property subtype
    Restaurants

    Description

    This exceptional 2,000 square foot retail space, ideally suited for a restaurant, becomes available Spring 2025. Located at 306 W Fairchild St, Danville, IL 61832 (APN 23-05-311-005), this single-tenant property boasts a recently remodeled interior within a larger 3,000 square foot building constructed in 1991. The space features attractive brick interior walls, an open ceiling with exposed ductwork, a fully equipped kitchen, a dedicated order counter, and two ADA-compliant restrooms. The property is zoned B3- General Business, offering flexibility for various restaurant concepts. Its prime location at the southeast corner of N. Gilbert and W. Fairchild Streets (State Route 1) benefits from a signaled intersection, ensuring high visibility and accessibility. This strategic location places the property amongst established businesses including Papa Johns, Dollar General, Walgreens, and a soon-to-open Kirshner Lumber, as well as First Financial Bank, creating a vibrant and thriving commercial environment. This is a rare opportunity to secure a well-appointed space in a high-traffic area of Danville, Illinois. Contact us today to learn more about this exciting opportunity.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Vermilion
    State
    Illinois
    Longitude
    -87.6353
    Latitude
    40.138

    Comparable in this City

    • Value Estimation by Request
      35,000 SF

      1507 Bowman Ave

      Retail properties & Spaces
      1507 Bowman Ave, Danville, IL 61832
      View Details
    • Value Estimation by Request
      14,000 SF

      23 North St

      Individual retail properties
      23 North St, Danville, IL 61832
      View Details
    • Value Estimation by Request
      28,312 SF

      401 Franklin St

      Individual retail properties
      401 Franklin St, Danville, IL 61832
      View Details
    • Value Estimation by Request
      6.62 Acres

      Vermilion St & Newell Ave

      Individual retail properties
      0 Vermilion St & Newell Ave, Danville, IL 61832
      View Details
    • Value Estimation by Request
      8,133 SF

      610 Gilbert St

      Retail properties & Spaces
      610 Gilbert St, Danville, IL 61832
      View Details
    • Value Estimation by Request
      1.13 Acres

      10 Southgate Dr

      Individual retail properties
      10 Southgate Dr, Tilton, IL 61832
      View Details

    Similar Nearby for Sale

    • Contact for pricing
      10,000 SF

      Restaurant with Banquet Room For Sale

      Restaurant with lower level banquet room and seasonal seating.
      3605 N Vermilion St, Danville, IL 61832
      View Details
    • Contact for pricing
      4,710 SF

      Three-Suite Building in Central Danville

      Three-suite building with food service potential in central Danville.
      212 W Fairchild St, Danville, IL 61832
      View Details
    • Contact for pricing
      40,092 SF

      Tilton Commercial Land For Sale

      Commercial land available in Tilton, near Georgetown Rd.
      10 Southgate Dr, Tilton, IL 61832
      View Details
    • Contact for pricing
      3,000 SF

      Two-Tenant Retail Investment Opportunity

      Fully occupied retail property with long-term leases and built-in rent growth.
      302 W Fairchild St, Danville, IL 61832
      View Details
    • Contact for pricing

      New Danville Restaurant with Drive-Thru

      Recently built restaurant with drive-up window and on-site parking.
      2828 N Vermilion St, Danville, IL 61832
      View Details
    • Contact for pricing

      Established Auto Shop For Sale

      Turn-key auto shop with equipment and additional lots included.
      210 South St, Danville, IL 61832
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      14,000 SF

      Versatile Space in Danville, IL

      14,000 SF space suitable for retail, apartments, or pub.
      23 W North St, Danville, IL 61832
      View Details
    • Contact for pricing

      Retail Space Inside Meijer

      Prime retail opportunity within high-traffic Meijer stores in the Midwest.
      3649 N Vermilion St, Danville, IL 61832
      View Details
    • Contact for pricing

      Danville Retail Stand-Alone Building

      Stand-alone retail building in Danville, Illinois, available for sale/lease.
      842 E Main St, Danville, IL 61832
      View Details
    • Contact for pricing
      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
    • Contact for pricing

      Danville Retail Space For Lease

      Retail space available for lease in Danville, Illinois.
      3216 N Vermilion St, Danville, IL 61832
      View Details
    • Contact for pricing
      8,190 SF

      New Retail Space Available

      Newly constructed retail space with off-street parking.
      100 N Gilbert St, Danville, IL 61832
      View Details
    Request Owner's contact information
    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.
    306 Fairchild 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
    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

    Thank You for Inquiry
    306 Fairchild St, Danville, IL, 61832
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!