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3217 N Vermilion St
Danville, IL 61832
FORMER RED LOBSTER · Retail Property For Sale
INVESTMENT HIGHLIGHTS
- Large Building Footprint and Parcel
- Located Within Major Retail Trade Area
- Great Visibility from High-Traffic Corridor
- Strong and Affluent Demographics
EXECUTIVE SUMMARY
Northmarq is pleased to offer for sale or lease a vacant casual dining asset in Danville, Illinois (“The Property”). The Property, formerly a Red Lobster, is 8,565 SF and located in Danville’s main retail corridor. With the Property being zoned B3 - General Business, it lends itself to multiple potential uses including splitting the building for multiple tenants/uses. The Property, built in 1991, is equipped with almost all FF&E, is well maintained and features a large 86-space parking lot with easy access from U.S. Highway 136.
PROPERTY FACTS Under Contract
Sale Type
Investment
Property Type
Retail
Property Subtype
Restaurant
Building Size
8,565 SF
Building Class
C
Year Built
1991
Tenancy
Single
Building Height
1 Story
Building FAR
0.14
Lot Size
1.42 AC
Zoning
B3, Danville - B3-General Business allowing for a variety of commercial uses.
Parking
86 Spaces (10 Spaces per 1,000 SF Leased)
Frontage
316’ on N Vermilion St
PROPERTY TAXES
| Parcel Number | 18-20-400-022 | Improvements Assessment | $291,361 |
| Land Assessment | $129,666 | Total Assessment | $421,027 |
PROPERTY TAXES
Parcel Number
18-20-400-022
Land Assessment
$129,666
Improvements Assessment
$291,361
Total Assessment
$421,027
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