735 Logan AveDanville, IL 61832

  • Office properties
  • 0.40 AC
For Sale
$975,000 View listing

Property Details for 735 Logan Ave

Lot size
0.40 AC
Property type
Office properties
APN
23-06-415-014
APU
2306415014

Description

This exceptional 5,304-square-foot medical office building, located at 735 N Logan Ave in Danville, Illinois (zip code 61832), presents a unique investment opportunity. Originally constructed in 1978 and significantly renovated in 2010, the property boasts a desirable P-1 Professional Use zoning. The building features thirteen exam rooms, a spacious reception area complete with check-in and check-out stations, a dedicated records office, three private offices, and a well-equipped lab area. A full basement provides additional valuable space, including a break room, more office space, extra exam rooms, and a substantial file room. The asking price is $975,000, translating to $183.82 per square foot. The property operates under a NNN lease structure. Its strategic location directly across from OSF Hospital, within a cluster of other medical offices, ensures high visibility and accessibility for patients and staff. Fixtures, furniture, and equipment are negotiable. This turnkey medical facility is ready for immediate occupancy and offers significant potential for growth and return on investment.

Valuation
by Paperhouses methods

Valuation date:
Dec 11, 2024
  • CAP approach

    CAP return
    Valuation
    6%
    $6,346,190
    6.5%
    $5,858,020
    7%
    $5,439,590
  • Comparable approach

    Method
    Valuation
    Relative Method
    $2,269,480
    Geo Method
    $2,269,480
  • Alternative Use

    Use
    Valuation
    Industrial / Distribution
    $11,824,900
    Retail / Commercial
    $6,006,640
    Mixed-Use / Specialty
    $5,940,200
    Hospitality / Lodging
    $4,299,520
    Institutional / Educational
    $6,159,320
    Residential Income
    $7,206,410
    Multifamily
    $8,892,560
    Automotive / Energy
    $5,279,420
    Parking / Income-Based Land
    $1,866,340
    Restaurant / Food Service
    $2,993,460
    Healthcare / Senior Housing
    $6,137,730

Location Insight

City
Danville
County
Vermilion
State
Illinois
Latitude
40.1359
Longitude
-87.6445
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
$20,037
$20,528
$183,683
$204,211
-
$61,584
$551,049
$612,633

FAQs

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