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Property profile & analytics
OFF-MARKET
Estimated value
$1,275,000
Commercial real estate
3217 Vermilion St, Danville, IL 61832-1335
Entity Owned
Free & Clear
Property ID
US28-3067194
Property summary
AI-generated overview
This 8,565-square-foot former Red Lobster restaurant presents a unique investment or lease opportunity in Danville, Illinois. Situated on a 1.42-acre lot, this single-story building boasts 86 parking spaces and excellent visibility from US Highway 136. Built in 1991, the property is well-maintained and features nearly all fixtures, furniture, and equipment (FF&E). Its B3 - General Business zoning allows for diverse uses, including potential subdivision for multiple tenants. The property's location within Danville's primary retail area ensures high traffic and visibility, making it an ideal location for a variety of businesses. The ample parking and convenient highway access further enhance its appeal. The property's address is 3217 N Vermilion St, Danville, IL 61832, with the APN being 18-20-400-022 in Vermilion County. This versatile space offers significant potential for a savvy investor or operator seeking a prime location in a thriving market. The entire 8,565 square feet is currently vacant.
Property profile
Verified
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Lot
1.42 ac (61,855 SF)
APN
18-20-400-022
UPID
US28-3067194
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$1.28M
Owner & transaction history
Jamm 3217 Vermilion LLC
Jamm 3217 Vermilion LLC
since 2025
Last sale
$1.3M
3 recorded transactions
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Danville submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Danville submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
CAP Approach
Comparable Approach
Alternative Use
Get a detailed, property-specific estimation — fast and free
Price per SF
Sale + rent benchmarks
Subject property
—
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$35,529
Tax year 2023
Assessed value
$384,044
Assessed 2023
Previous assessed
$350,597
+9.5% YoY
Effective rate
9.25%
On assessed value
Assessed land
$118,276
Assessed improvement
$265,768
Land market value
$354,828
Improvement market value
$797,304
Total market value
$1,152,132
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Commercial real estate
Use group
COMMERCIAL (GENERAL)
Status
Off-Market
Heating
NONE
Lot
1.42 ac (61,855 SF)
APN
18-20-400-022
UPID
US28-3067194
Jurisdiction
VERMILION
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Building & site characteristics
From public records
Heating
NONE
Lot
1.42 ac
Current owner
From public records · entity-resolved
Jamm 3217 Vermilion LLC
Entity
Free & Clear · 0 yrs held
Mailing address
450 S ORANGE AVE STE #800, ORLANDO, FL 32801-3344
Ownership since
2025
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
3 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jan 30, 2026
—
Jamm 3217 Vermilion LLC
—
Deed
related
$1,650,000 · Lakeside Bank
Dec 29, 2025
$1,275,000
Jamm 3217 Vermilion LLC
Scf Rc Funding III LLC
Special Warranty Deed
—
Jul 5, 2019
$2,207,500
Scf Rc Funding III LLC
Arcp Rl Portfolio Viii LLC
Special Warranty Deed
$442,087,037 · Citibank Fsb Trustee
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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