735 Logan AveDanville, IL 61832

Property Details for 735 Logan Ave

Lot size

0.40 AC

Property type

Office properties

Property subtype

Other 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.

• CAP approach

  CAP return

  Valuation

  6%

  $5,599,577

  6.5%

  $5,168,840

  7%

  $4,799,638

• Comparable approach

  Method

  Valuation

  Relative Method

  $2,269,476

  Geo Method

  $2,269,476

• Alternative Use

  Use

  Valuation

  Residential

  $6,409,362

  Hospitality

  $5,870,941

  Educational

  $4,884,554

  Medical

  $5,052,542

  Retail

  $7,598,196

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

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