2606 Vermilion StDanville, IL 61832

Property Details for 2606 Vermilion St

Lot size

1.42 AC

Property type

Commercial real estate

APN

18-29-100-048

APU

1829100048

Description

This exceptional 1.33-acre commercial land parcel presents a unique investment opportunity in Danville, Illinois. Located at 2606 N. Vermilion St., this property boasts a highly desirable B-2 zoning designation, opening doors to a wide range of commercial development possibilities. Previously occupied, the site has undergone significant preparation, with the existing building and tanks having been recently removed, leaving a clean slate for future construction. The property's strategic location along Danville's north retail corridor ensures high visibility and accessibility. Its proximity to established businesses such as Wendy's, Wingstop, and Dairy Queen, among other retail and restaurant establishments, guarantees a strong commercial presence and significant foot traffic. The expansive lot size offers ample space for a variety of development projects, making it an ideal location for new construction or expansion. This property is situated in Vermilion County, Illinois, with the zip code 61832. The address is precisely 2606 N Vermilion St, Danville, IL. The asking price for this exceptional opportunity is $175,000. Don't miss this chance to acquire a prime piece of commercial real estate in a thriving retail area.

• CAP approach

  CAP return

  Valuation

  6%

  $22,528,900

  6.5%

  $20,795,900

  7%

  $19,310,500

• Comparable approach

  Method

  Valuation

  Relative Method

  $8,056,610

  Geo Method

  $8,056,610

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $41,978,400

  Retail / Commercial

  $21,323,500

  Mixed-Use / Specialty

  $21,087,600

  Hospitality / Lodging

  $15,263,200

  Office

  $20,795,900

  Institutional / Educational

  $21,865,500

  Residential Income

  $25,582,700

  Multifamily

  $31,568,500

  Automotive / Energy

  $18,741,900

  Parking / Income-Based Land

  $6,625,500

  Restaurant / Food Service

  $10,626,800

  Healthcare / Senior Housing

  $21,788,900

Location Insight

City

Danville

County

Vermilion

State

Illinois

Latitude

40.1677

Longitude

-87.6313

CBSA code

19180

CBSA name

DANVILLE, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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