Add Listing
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    68/72 Main St Danville, IN 46122

    Property Lookup

    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    68/72 Main St Danville, IN 46122

    View on Map
    • Office properties & Spaces
    For Sale
    $1,000,000
    View Listing →
    Downtown Danville Office Complex For Sale
    $1,000,000

    Downtown Danville Office Complex

    Luxury Offices & Apartments, Prime Location

    68/72 Main St, Danville, IN 46122
    View Listing
    Value Estimations
    Cap Rate Potential
    Location Intelligence

    Current Use by Public Records

    • Office properties & Spaces

    Property Details for 68/72 Main St

    Property type
    Office properties & Spaces

    Description

    This exceptional investment opportunity presents two adjacent, meticulously renovated buildings in the heart of Danville, Indiana. Situated next to the popular Mayberry CafГ©, this property boasts a prime downtown location with excellent visibility and accessibility. The main building, a two-story all-brick structure, underwent a complete gut renovation in 2020, utilizing premium materials throughout. Nine luxurious office spaces feature 10-foot ceilings, recessed lighting, ceramic tile, ceiling fans, and laminate flooring. A spacious conference room and a well-equipped kitchen cater to professional needs. A large retail space on the ground floor includes a tray ceiling and ceiling fan, offering versatile commercial potential. Additional features include an assistant's office, a separate file room, and a substantial 20x15 storage room. All offices are equipped with keyless entry systems for enhanced security and convenience. The property also includes a rear entry with ample public parking. The front office, currently used by the owner, showcases impressive display windows, marble tile floors, and elegant marble trim. Upstairs, four remodeled apartments provide additional income streams: two one-bedroom units, one two-bedroom unit, and a manager's efficiency unit. The second building is adjacent and complements the main structure, adding to the overall value and potential of this unique property. This property offers a blend of commercial and residential income potential, making it an ideal investment for discerning buyers seeking a high-quality, well-maintained asset in a thriving downtown area.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Hendricks
    State
    Indiana
    Longitude
    -86.5178
    Latitude
    39.7619

    Comparable in this City

    • Value Estimation by Request
      940 SF

      25 Marion St

      OFFICE (GENERAL) • 940 SF
      25 Marion St, Danville, IN 46122-1707
      View Details
    • Value Estimation by Request
      684 SF

      59 Washington St

      OFFICE (GENERAL) • 684 SF
      59 Washington St, Danville, IN 46122-1233
      View Details
    • Value Estimation
      $14,040,000
      178,331 SF

      100 Warrior Way

      OFFICE (GENERAL) • 178,331 SF
      100 Warrior Way, Danville, IN 46122-1572
      View Details
    • Value Estimation by Request
      1,432 SF

      3393 Main St

      OFFICE (GENERAL) • 1,432 SF
      3393 Main St, Danville, IN 46122-8471
      View Details
    • Value Estimation
      $1,105,000
      7,894 SF

      7800 Us Hwy 36

      OFFICE (GENERAL) • 7,894 SF
      7800 Us Hwy 36, Danville, IN 46122
      View Details
    • Value Estimation by Request
      8,540 SF

      103 Lincoln St

      OFFICE (GENERAL) • 8,540 SF
      103 Lincoln St, Danville, IN 46122-1775
      View Details

    Similar Nearby for Sale

    • $1,000,000

      Downtown Danville Office Complex

      Luxury Offices & Apartments, Prime Location
      68/72 Main St, Danville, IN 46122
      View Details
    • $995,000
      4,740 SF

      Danville Office Building - Prime Location

      Fully Leased Multi-Tenant Office Investment
      1300 Main St, Danville, IN 46122
      View Details
    • Contact for pricing

      Multi-Tenant Office Building For Sale

      Multi-tenant office building in high-traffic Danville location, fully leased.
      1300 Main St, Danville, IN 46122
      View Details
    • $1,827,350
      Pending

      Residential Lots in Danville, IN

      52.21 acre agricultural residence zoned land for sale.
      3439 Cartersburg Rd, Danville, IN 46122
      View Details
    • Contact for pricing
      0.20 Acres

      Residential Lots in Danville, IN

      Residential lots available in the heart of Hendricks County.
      1098 E County Road 500 N, Danville, IN 46122
      View Details
    • $525,000
      Pending

      Danville Farm Land For Sale

      35+ acre lot perfect for building your dream home.
      No Address, Danville, IN 46122
      View Details
    View Listing
    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.
    68/72 Main St
    Danville, IN 46122
    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

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!