401 Franklin StDanville, IL 61832

Property Details for 401 Franklin St

Year built

1981

Lot size

1.13 AC

Property size (Sq ft)

28,312 SF

Property type

Office properties

Property subtype

Other retail properties

Description

This exceptional investment opportunity presents a 28,312 square foot, multi-tenant office building located at 401-407 N Franklin St, Danville, IL 61832. The property, built in 1981 and renovated in 1997, sits on a 1.13-acre lot and boasts a desirable B-4 Central Business zoning. Currently, the building houses several prominent tenants including the Illinois Department of Children and Family Services (11,700 sq ft), the Illinois Department of Human Services (5,586 sq ft), and Danville Area Community College (6,204 sq ft). An additional 3,412 square feet of usable space is currently vacant, presenting a value-add opportunity for potential investors. The building features a single story and is classified as a Class B property with a modified lease type. The asking price is $1,950,000, representing a compelling 10.00% capitalization rate. Its strategic location just north of downtown Danville offers convenient access to I-74, providing easy commutes to Champaign (35 miles), Indianapolis (93 miles), and Chicago (130 miles). The property's strong tenant base, coupled with the vacant space, makes it an attractive investment prospect with significant upside potential. The APN is 23-05-320-050, -051, -052.

Location Insight

City

Danville

County

Vermilion

State

Illinois

Latitude

40.1327

Longitude

-87.5898

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