Sign Up Successful!
You now have access to more from Realmo!
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    300 Spelter Ave Danville, IL 61832-8346

    • Commercial real estate
    • 5.29 lot acres
    OFF-MARKET
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US28-2869726
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Danville MHP / Campground & RV Park

    Property Details for 300 Spelter Ave

    Lot size
    5.29 lot acres
    Property type
    Commercial real estate
    APN
    23-30-400-008
    APU
    2330400008

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Danville
    County
    Vermilion
    State
    Illinois
    Longitude
    -87.6408
    Latitude
    40.0774
    CBSA code
    19180
    CBSA name
    DANVILLE, IL METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2023
    $815
    $6,163
    $3,819
    $9,982
    -
    $18,489
    $11,457
    $29,946

    Comparable in this City

    • Value Estimation by Request
      0.25 Acres

      124 Hazel St

      COMMERCIAL (GENERAL) • 0.25 Acres
      124 Hazel St, Danville, IL 61832-7841
      View Details
    • Value Estimation by Request
      0.57 Acres

      607 Highland Blvd

      COMMERCIAL (GENERAL) • 0.57 Acres
      607 Highland Blvd, Danville, IL 61832-7238
      View Details
    • Value Estimation by Request
      0.05 Acres

      4 Illinois St

      COMMERCIAL (GENERAL) • 0.05 Acres
      4 Illinois St, Danville, IL 61832
      View Details
    • Value Estimation by Request
      0.34 Acres

      615 Jackson St

      COMMERCIAL (GENERAL) • 0.34 Acres
      615 Jackson St, Danville, IL 61832-4676
      View Details
    • Value Estimation by Request

      41 Jackson St

      COMMERCIAL (GENERAL)
      41 Jackson St, Danville, IL 61832-5836
      View Details
    • Value Estimation by Request
      1.79 Acres

      510 Jct St

      COMMERCIAL (GENERAL) • 1.79 Acres
      510 Jct St, Danville, IL 61832-4860
      View Details

    Similar Nearby for Sale

    • $750,000
      0.52 Acres

      Danville Commercial Land Development

      High-traffic corner lot, build-ready.
      901 Vermilion St, Danville, IL 61832
      View Details
    • $575,000
      6.62 Acres

      Danville Retail Land - Prime Location

      6.62 Acres, High-Traffic Retail Site
      0 Vermilion St & Newell Ave, Danville, IL 61832
      View Details
    • $175,000
      1.33 Acres

      Danville Commercial Land - $175K

      1.33-acre commercial lot, prime Danville location.
      2606 Vermilion St, Danville, IL 61832
      View Details
    • $97,000
      1.13 Acres

      Tilton Retail Park - Huge Potential

      Vacant Storefront, Warehouse, Office Space
      10 Southgate Dr, Tilton, IL 61832
      View Details
    • $1,500,000
      13,500 SF

      Danville Retail Building For Sale

      13,500 SF Pharmacy/Drug Store, Vacant
      842 Main St, Danville, IL 61832
      View Details
    • $975,000
      5,304 SF

      Danville Medical Office Building

      Prime Medical Office, 5,304 SF, $975K
      735 Logan Ave, Danville, IL 61832
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      13,225 SF

      Prime Danville Retail Space

      13,225 SF Freestanding Retail Building
      900 Main St, Danville, IL 61832
      View Details
    • Contact for pricing
      50,232 SF

      Retail Space on Vermilion Street

      Retail spaces available in Danville, Illinois shopping center.
      2917 N Vermilion St, Danville, IL 61832
      View Details
    • $24 SF/Yr
      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
      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
      6,200 SF

      Danville Retail Space: 6,200 SF

      Prime Danville storefront, 6,200 sq ft, 80 parking spaces. High visibility location.
      705 Gilbert St, Danville, IL 61832
      View Details
    • $8 SF/Yr
      35,000 SF

      Danville Industrial Retail Space

      Prime Danville location, 35,000 SF, 20,000 SF vacant.
      1507 Bowman 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.
    300 Spelter Ave
    Danville, IL 61832-8346
    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.