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Single Tenant Net Lease - Danville, Il

$4,750,000

2 West Main Street, Danville, IL 61832

Active
Last Updated: 11/28/2024

9.8

Cap Rate

465,521

NOI

Details:
Cap Rate:    9.8%
NOI:    $465,521
Cash-on-Cash:    7.5%
Building Size:    41,052 sqft
Lot Area:    1.9 acres
Occupancy:    100%
Class:    B
Lease Type:    Absolute Net
Floors:    2
Lease Expire Year:    11/2022
Highlights:
  • Investment grade tenant
  • Absolute triple net lease - coupon clipper
  • Located in heart of downtown, county seat plus local, state and federal government offices
  • Civic Center, across street, hosts numerous events
  • Limited office space available in the downtown market
Description:

40,152 SF class B office building located in downtown Danville, Illinois. 100% occupied by Old National Bancore, an Aa3 credit by Moody's. Lease expires in four years and has a number of renewal options.

Tenant has expressed an interest in downsizing and extending its lease - negotiations are underway.

Two subtenants (approximately 4k SF) will be converted to direct tenants as part of the downsizing/extension discussions.

Map:
Documents:
Title
Danville_Flyer_1_Page_Flyer_Rev_120418.pdf
* Documents permissions are set by the listing owner, request information to access locked documents.
Location
Gallery