Mixed Use Center Investment

InvestmentInvestment 32,000 SF
610-622 N Gilbert St
Danville, IL 61832
Price: $1,850,000.00 (Previously $1,962,000.00)
Building Size: 32,000 SF
Parking: 1969
Zoning: B-3 General Business
Tax PIN: 23-05-304-014
NOI: $166,000.00
Cap Rate/In-Place Income: 9%

Property Description

Coldwell Banker Commercial Devonshire Realty (CBCDR) is delighted to present this Value added, mixed-use center, now available for exclusive sale. Constructed in 1969 by Black & Co. to cater to the sale of home goods, sporting equipment, and construction supplies, the building underwent a transformative evolution, eventually being divided into five distinct storefronts.
The recent additions of Industry Labs, Full Access Healthcare, and Swing Sports complement the long-termed tenants, Aunt Martha’s Medical Group and Rent-A-Center and increases the occupancy to 75%. This diverse mix enhances the overall marketability of the property, and combined with the value-added component, is an appealing choice for the investor who wants cash flow and upside potential.

Area Description

Located 140 miles south of Chicago and 90 miles west of Indianapolis, Danville is nestled in the heart of Vermilion River country and home to world class museums, shops full of rare and unique finds, and watchable wildlife to enjoy. From nationally recognized Danville Dans baseball team, to the NJCAA Division II Men’s National Basketball Tournament, to ice skating, canoeing, horseback riding, and hiking – It is easy to see why over 30,000 residents call Danville home.