Property Listing No Longer Available for Sale

806 E Main Street, Danville, IL

Others for Sale - $249,000 - 13,000 Sq. Ft.

Property Info

CIMLS #975086
Location806 E Main Street
Danville IL 61832
Last UpdatedApril 30th, 2019
Building13,000 Sq. Ft.
DemographicsView data

Property Description

Investors take note! Now on the market and offering an incredible in-place cap rate of over 15%, this strip center features two parcels, with a two-floor, 12,000 square foot main building that is 70% occupied by a Fortune 500 backed tenant on a triple net lease. The anchor tenant has occupied the property since 1989, and pays all but $1,400 of the yearly taxes. Vacant in the main building is approximately 3,300 square feet of office/retail space that represents a value add for potential investors, bumping the potential cap rate to over 20%! Also on the main parcel, there is a 1,000 square foot free-standing building that is leased to a local tenant, and currently used as retail space. The roof on the main building is new in 2017 and has a 10 year warranty. Owner is also offering for lease, the 3,300 square feet in the main building, divisible down to approximately 500 square feet, at $4.50/sf. The second parcel is directly across Main Street, and contains a fenced parking lot.

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