707 Logan Ave Danville, IL 61832
- Commercial real estate
- 2.86 lot acres
Current Use by Public Records
- OSF Sacred Heart - Outpatient Lab / Medical Laboratory / Medical Clinic
- Bhaskar Patel, MD / Health Consultant
- Right Insurance Agency Danville / Auto Insurance Agency
- OSF Medical Group - Surgery / Medical Clinic / Surgical Center
- OSF Cardiovascular Institute / Medical Clinic / Medical Center
Property Details for 707 Logan Ave
- Lot size
- 2.86 lot acres
- Property type
- Commercial real estate
- APN
- 23-06-419-044
- APU
- 2306419044
Description
This exceptional medical office building, located at 707 N Logan Ave. in Danville, Illinois, presents a unique investment opportunity. The property totals 8,533 square feet and currently features multiple tenants. A significant advantage is the presence of OSF Healthcare as an anchor tenant, providing stability and strong occupancy rates. The building is strategically situated just 0.2 miles from OSF Sacred Heart Medical Center, ensuring high visibility and convenient access for patients and staff. This location within Vermilion County benefits from the limited availability of medical office space, particularly given the stringent Certificate of Need (CON) regulations in the state. The ASC (Ambulatory Surgical Center) component of the building further enhances its value and potential for future growth. One suite is currently available, offering a chance to expand your practice or add to your portfolio. The property's proximity to a major healthcare provider and its compliance with state regulations make it an attractive investment for those seeking a stable and high-demand medical office space. The building's size and existing tenancy provide immediate income potential, while the location and existing infrastructure offer significant long-term growth opportunities. Serious inquiries are encouraged to explore this exceptional opportunity in the thriving Danville healthcare market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $13,225,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $13,165,000
- 6.5%
- $13,990,000
- 7%
- $13,040,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $13,730,000
- Geo Method
- $15,655,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $15,470,000
- Retail
- $11,640,000
- Mixed-Use
- $12,330,000
- Hospitality
- $14,705,000
- Educational
- $12,430,000
- Residential Income
- $13,220,000
- Energy
- $13,100,000
- Income-Based Land
- $12,905,000
- Food Service
- $14,885,000
Location Insight
- Map
- Local Demand
- City
- Danville
- County
- Vermilion
- State
- Illinois
- Longitude
- -87.6445
- Latitude
- 40.1351
- CBSA code
- 19180
- CBSA name
- DANVILLE, IL METROPOLITAN STATISTICAL AREA
