610 Gilbert St Danville, IL 61832
- Retail properties
- 8,133 SF
Current Use by Public Records
- Retail properties
Property Details for 610 Gilbert St
- Year built
- 1969
- Property size
- 8,133 SF
- Property type
- Retail properties
- Property subtype
- Investment properties
Description
This 8,133 square foot multi-tenant retail property in Danville, Illinois, presents a compelling investment opportunity. Built in 1969 and situated on 610 N Gilbert St, zip code 61832, the property boasts a strong 9.00% cap rate and a current asking price of $1,850,000 ($227.47/sq ft). Currently, the center is 75% occupied by a diverse mix of tenants including Aunt Martha's Medical Group, Rent-A-Center, Industry Labs, Full Access Healthcare, and Swing Sports. Originally constructed for home goods, sporting equipment, and construction supplies, the building has been successfully adapted into five distinct storefronts, offering significant upside potential for future growth. The property is zoned B-3 General Business, allowing for a variety of uses. Located conveniently in Vermilion County, Danville offers a vibrant community with a population exceeding 30,000 residents and a range of attractions, including museums, shops, and recreational activities. This location, approximately 140 miles south of Chicago and 90 miles west of Indianapolis, provides excellent accessibility and strong market potential. The combination of existing cash flow and the potential for increased occupancy makes this a highly attractive investment for those seeking a value-added opportunity in a thriving Illinois market.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Danville
- County
- Vermilion
- State
- Illinois
- Longitude
- -87.636
- Latitude
- 40.1349
