3234 Vermilion StDanville, IL 61832

Property Details for 3234 Vermilion St

Lot size

0.99 AC

Property type

Commercial real estate

APN

18-20-403-007

APU

1820403007

Description

This exceptional 9,496-square-foot retail or office space is ideally situated on Danville's North Vermilion Street retail corridor in Illinois. The single-tenant building, identified by APN 18 20 403 007, is zoned B-2 Highway Business, offering significant flexibility for a variety of uses. The property is a stand-alone structure with ample off-street parking, providing convenient access for customers and employees. The landlord is willing to consider subdividing the space to create multiple storefronts, catering to the needs of various businesses. This prime location boasts high visibility and strong foot traffic, surrounded by a thriving retail environment. Neighboring businesses include well-established national brands such as Harbor Freight, Courtesy Ford, Red Lobster, McDonald's, Arby's, Village Mall, Slumberland, Culver's, Meijer, TJ Maxx, Kohl's, and Lowe's, ensuring a robust customer base and synergistic opportunities. The property's address is 3234 N Vermilion St, Danville, IL 61832, within Vermilion County. This presents a unique opportunity for businesses seeking a prominent location in a bustling commercial area. The entire 9,496 square feet is currently vacant and ready for immediate occupancy. This property offers a rare chance to establish a strong presence in a high-traffic area with excellent visibility and a diverse range of neighboring businesses.

• CAP approach

  CAP return

  Valuation

  6%

  $15,706,700

  6.5%

  $14,498,500

  7%

  $13,462,900

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,616,900

  Geo Method

  $5,616,900

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $29,266,400

  Retail / Commercial

  $14,866,300

  Mixed-Use / Specialty

  $14,701,900

  Hospitality / Lodging

  $10,641,200

  Office

  $14,498,500

  Institutional / Educational

  $15,244,200

  Residential Income

  $17,835,700

  Multifamily

  $22,008,900

  Automotive / Energy

  $13,066,400

  Parking / Income-Based Land

  $4,619,160

  Restaurant / Food Service

  $7,408,750

  Healthcare / Senior Housing

  $15,190,700

Location Insight

City

Danville

County

Vermilion

State

Illinois

Latitude

40.1772

Longitude

-87.6305

CBSA code

19180

CBSA name

DANVILLE, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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