State Lease Investment Offering

About this listing

DESCRIPTION

Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to exclusively offer for sale this multi-tenant Value-Add Investment Property. Subject property is located just north of Downtown Danville. Danville is the county seat of Vermilion County located in eastern Illinois adjacent to the state line of Indiana. Danville is 35 miles east of Champaign, IL via I-74, 93 miles northwest of Indianapolis, IN via I-74, and 130 miles south of Chicago via Rt. 1.
The property is currently leased to the State of Illinois occupying 401 N. Franklin/407C N. Franklin., Danville Area Community College (DACC) in 407B N. Franklin, and currently 3,412 SF (usable SF) vacant at 407A N. Franklin. The Illinois Department of Central Management Services (CMS) is a code department of the Illinois state government that is generally responsible for certain state properties, acquisitions, and services. Specifically the space houses; The Illinois Department of Children and Family Services (DCFS) is the code department of the Illinois state government responsible for child protective services occupying 11,700 SF, and The Illinois Department of Human Services is the code department of the Illinois state government responsible for providing a wide variety of safety net services to Illinois residents in poverty, who are facing other economic challenges, or who have any of a variety of disabilities or health challenges occupying 5,586 SF. Danville Area Community College (DACC) is a community college in Danville, Illinois. It was founded in 1946 as an extension of the University of Illinois; it has grown into an independent college offering courses in 76 areas of study occupying 6,204 SF.

HIGHLIGHTS

• NOI - $146,029.09
  Gross Income (2019) - $208,009.00
  Total Expenses (2019) - $61,978.91
  Cap Rate - 10.23%
  RE: $33,520.92

AREA

Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to exclusively offer for sale this multi-tenant Value-Add Investment Property. Subject property is located just north of Downtown Danville. Danville is the county seat of Vermilion County located in eastern Illinois adjacent to the state line of Indiana. Danville is 35 miles east of Champaign, IL via I-74, 93 miles northwest of Indianapolis, IN via I-74, and 130 miles south of Chicago via Rt. 1.