1023 Griggs StDanville, IL 61832

Property Details for 1023 Griggs St

Lot size

0.71 AC

Property type

Industrial properties

APN

23-04-403-024

APU

2304403024

Description

This Danville, IL warehouse offers significant potential for various businesses. Boasting 10,000 square feet of space, the property sits on a 0.71-acre lot and includes a 62x48 pole barn. Built in 1940, the single-story warehouse features concrete floors. The pole barn has been recently updated with new wiring, an electrical panel, and an exterior meter box. The property includes five parking spaces. While the main warehouse building's last occupancy was in 2012, the recent improvements to the pole barn suggest significant upside. The roof is comprised of metal and rubber. The property's APN is 23-04-403-024. The asking price is $19,900. Note that there is no hot water currently available on the property. This presents a unique opportunity for an investor or business owner seeking a large space with expansion possibilities in a convenient location. The property is located at 1023 Griggs St, Danville, IL 61832.

• CAP approach

  CAP return

  Valuation

  6%

  $22,738,700

  6.5%

  $20,989,500

  7%

  $19,490,300

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,445,400

  Geo Method

  $6,445,400

• Alternative Use

  Use

  Valuation

  Retail / Commercial

  $10,661,900

  Mixed-Use / Specialty

  $10,544,000

  Hospitality / Lodging

  $7,631,750

  Office

  $10,398,100

  Institutional / Educational

  $10,932,900

  Residential Income

  $12,791,500

  Multifamily

  $15,784,500

  Automotive / Energy

  $9,371,090

  Parking / Income-Based Land

  $3,312,800

  Restaurant / Food Service

  $5,313,460

  Healthcare / Senior Housing

  $10,894,600

Location Insight

City

Danville

County

Vermilion

State

Illinois

Latitude

40.1355

Longitude

-87.6074

CBSA code

19180

CBSA name

DANVILLE, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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