NNN Opportunity Zone Industrial Investment for Sale

SaleIndustrial 85,375 SF
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266 Eastgate Dr
Danville, IL 61834
Price: $2,605,129
Building Size: 85,375 SF
Lot Size (acre): 10.31 AC
Zoning: General Industrial
Tax PIN: 23-12-451-016
RE: $37,356.54
Year Built: 1985
Cap Rate: 8.25%
NOI: $214,446

PROPERTY OVERVIEW

Coldwell Banker Commercial Devonshire Realty (CBCDR) is proud to exclusively offer for sale this multi-tenant Industrial asset. The subject property is located just north of the Lynch Rd and I-74 interchange in Southeast Danville and less than 1 mile from the Illinois/Indiana border. Danville is 41 miles east of Champaign IL via I-74, 53 miles north of Terre Haute IN via IN-63, 83 miles northwest of Indianapolis IN via I-74, and 140 miles south of Chicago IL via US-41/I-57.

Subject property is a steel industrial building constructed in 1985 and sits on 10.31 acres with room to expand the building. The building consists of 85,375 SF that is currently split into 2 sections. The warehouse portion (68,125 SF) has been lease to AutoZone as a return processing center since 1998. They are currently in their ninth lease extension through 8/31/21 with one additional 3 year renewal option. The office portion (17,250 SF) is currently being utilized by the building owners for long term file storage and an employee work out facility. Prior to selling the building, Mervis industries will enter into a 5 year lease for the office portion of the building with a 90 day landlord termination option. See lease abstract for more financial details.

The property is located in an Opportunity Zone (Census Tract 17183011200).

AREA OVERVIEW

The subject property is located just north of the Lynch Rd and I-74 interchange in Southeast Danville and less than 1 mile from the Illinois/Indiana border. Danville is 41 miles east of Champaign IL via I-74, 53 miles north of Terre Haute IN via IN-63, 83 miles northwest of Indianapolis IN via I-74, and 140 miles south of Chicago IL via US-41/I-57.

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