Single Tenant Net Lease - Danville, Il

2 West Main Street, Danville, IL

$4,750,000

Price

9.8%

Cap Rate

$465,521

NOI

Overview
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
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.

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
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