Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    1513 Bowman Ave Danville, IL 61832
    Back to Search
    Property profile & analytics

    1513 Bowman Ave, Danville, IL 61832

    View on Map
    • Land
    Off-Market
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Land

    Property Details for 1513 Bowman Ave

    Property type
    Land

    Description

    This exceptional 1513 N Bowman Ave. commercial land parcel presents a unique investment opportunity in Danville, Illinois. Spanning [Size not provided], this property boasts a highly desirable B-3 zoning classification, opening doors to a wide array of commercial development possibilities. Its strategic location on North Bowman Avenue ensures high visibility and accessibility, with an impressive Average Annual Daily Traffic (AADT) of 7,250 vehicles, as reported by the Illinois Department of Transportation (IDOT). The property's prime location within Vermilion County, Illinois, and its convenient 61832 zip code, makes it an ideal site for businesses seeking a strong presence in a thriving community. The parcel is identified by APN 18-33-400-012. This is a blank canvas for entrepreneurs and developers alike, offering significant potential for substantial return on investment. The asking price for this exceptional commercial land is $15,000. Don't miss this chance to acquire a highly sought-after commercial property in a dynamic location. Serious inquiries only.

    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
    -87.6078
    Latitude
    40.1504

    Comparable in this City

    • Value Estimation by Request
      0.99 Acres

      2504 Vermilion St

      Land
      2504 Vermilion 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
      1.13 Acres

      10 Southgate Dr

      Individual retail properties
      10 Southgate Dr, Tilton, IL 61832
      View Details
    • Value Estimation by Request
      1.50 Acres

      Winter Ave

      Farms
      0 Winter Ave, Danville, IL 61832
      View Details
    • Value Estimation by Request
      0.12 Acres

      605 Vermilion St

      COMMERCIAL (GENERAL)
      605 Vermilion St, Danville, IL 61832-4645
      View Details
    • Value Estimation by Request
      9.43 Acres

      3649 Vermilion St

      COMMERCIAL (GENERAL)
      3649 Vermilion St, Danville, IL 61832-1118
      View Details

    Similar Nearby for Sale

    • $65,900
      5.00 Acres

      Danville, IL Vacant Wooded Land

      5 acres of vacant wooded land in Danville, Illinois.
      5 Acres On Hickory St, Danville, IL 61832
      View Details
    • Contact for pricing

      Land For Sale

      Land available for sale.
      1232 East Main St, Danville, IL 61832
      View Details
    • Contact for pricing

      Vermilion Street Commercial Land Parcel

      Build-ready commercial land parcel at signaled intersection in Danville, IL.
      901 N Vermilion 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
      0.29 Acres

      Corner Lot in Danville, IL

      Corner lot offers convenience to restaurants, shopping, and amenities.
      616 Robinson St, Danville, IL 61832
      View Details
    • Contact for pricing

      Commercial Land in Tilton, IL

      0.87 acre commercial land with high visibility.
      2 W Ross Ln, Tilton, IL 61832
      View Details

    Similar Nearby for Lease

    • 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 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
    • Contact for pricing

      Danville Retail Space For Lease

      Retail property with drive-up, built for CVS in 2010.
      900 E Main 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

      Danville Office Suite For Rent

      Office suite with open floor plan available for rent.
      707 N Logan Ave, 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.
    1513 Bowman Ave
    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
    1513 Bowman Ave, 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!