3655 Vermilion StDanville, IL 61832

Property Details for 3655 Vermilion St

Lot size

0.24 AC

Property type

Commercial real estate

APN

18-20-206-002

APU

1820206002

Description

This exceptional investment opportunity presents a newly constructed, 3,850 square foot retail property in Danville, Illinois, boasting a prime location on U.S. Route 136/North Vermilion Street. The property is 100% leased to two national credit tenants: T-Mobile and Jersey Mike's, each under a 10-year NNN lease with corporate guarantees. This provides significant stability and predictable cash flow, further enhanced by scheduled rent increases offering inflation protection. The property sits on a 0.235-acre lot and features high visibility due to its proximity to major retailers including Walmart, Meijer, Lowe's, Tractor Supply Co., and Kohl's, ensuring substantial foot traffic. Its strategic location near OSF Sacred Heart Medical Center, Danville Area Community College, and several residential neighborhoods guarantees a consistent customer base. The strong local demographics, with an average annual household income exceeding $91,504 within a one-mile radius and projected 12% growth by 2029, further bolster the investment's potential. The property's convenient access to Vermilion Regional Airport and nearby metro areas like Champaign-Urbana adds to its appeal. The asking price is $2,059,000, representing a compelling 6.85% cap rate with a current NOI of $141,025. Built in 2023, this asset offers a secure and lucrative investment opportunity in a thriving market. The property's location within a growing economy and revitalized area of Vermilion County makes it an ideal choice for long-term investment growth.

Location Insight

City

Danville

County

Vermilion

State

Illinois

Latitude

40.1882

Longitude

-87.6291

CBSA code

19180

CBSA name

DANVILLE, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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