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Former CVS $2.3M Guaranteed Income 900 E Main St 13,225 SF Vacant Retail Building Danville, IL 61832 $2,806,392 ($212.20/SF) 13% Cap Rate
INVESTMENT HIGHLIGHTS
- ±13,225 SF freestanding building on a 1.99-acre parcel; built in 2010 and maintained by CVS under an absolute NNN lease structure.
- Opportunity to allow investors to collect guaranteed income while evaluating re-tenanting, redevelopment, or repositioning strategies.
- Over $2.31 million in remaining rent from CVS before the free rent period.
- Positioned along East Main Street (IL-1), a primary arterial corridor in Danville, offering excellent visibility, access, and consistent regional traf
EXECUTIVE SUMMARY
We are pleased to present for sale the vacant CVS property located at 900 E. Main St, Danville, IL 61832 (the “Property”). The ±13,225 square foot freestanding building was constructed in 2010 and sits on fee simple land along East Main Street (IL-1) a key north-south arterial through Danville offering high visibility and convenient access to US Route 150 and Danville Mass Transit.
CVS remains obligated on the lease through January 30, 2035, with a corporate guarantee in place during the base term. Notably, the lease provides for a free rent period beginning February 1, 2032. The buyer will benefit from approximately $2,310,596 in remaining rental income over the next 6+ years.
Listed in conjunction with Brian Brockman, Bang Realty - Illinois, 513-898-1551, wg@bangrealty.com, IL DRE Lic. 471020548.
CVS remains obligated on the lease through January 30, 2035, with a corporate guarantee in place during the base term. Notably, the lease provides for a free rent period beginning February 1, 2032. The buyer will benefit from approximately $2,310,596 in remaining rental income over the next 6+ years.
Listed in conjunction with Brian Brockman, Bang Realty - Illinois, 513-898-1551, wg@bangrealty.com, IL DRE Lic. 471020548.
PROPERTY FACTS
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Building Size
13,225 SF
Building Class
B
Year Built
2010
Price
$2,806,392
Price Per SF
$212.20
Cap Rate
13%
NOI
$364,831
Percent Leased
Vacant
Tenancy
Multiple
Building Height
1 Story
Building FAR
0.15
Lot Size
1.99 AC
Zoning
B-2 - Highway Business
SPACE AVAILABILITY
- SPACE
- SIZE
- SPACE USE
- POSITION
- AVAILABLE
Custom built for CVS in 2010, this fully sprinkled building has 12' ceilings and includes: covered drive-up window, reach-in coolers, energy management system, rooftop hvac systems, and fire/security system.
| Space | Size | Space Use | Position | Available |
| 1st Floor | 13,225 SF | Retail | - | Now |
1st Floor
| Size |
| 13,225 SF |
| Space Use |
| Retail |
| Position |
| - |
| Available |
| Now |
1st Floor
| Size | 13,225 SF |
| Space Use | Retail |
| Position | - |
| Available | Now |
Custom built for CVS in 2010, this fully sprinkled building has 12' ceilings and includes: covered drive-up window, reach-in coolers, energy management system, rooftop hvac systems, and fire/security system.
PROPERTY TAXES
| Parcel Number | 23-09-221-001 | Improvements Assessment | $100,454 |
| Land Assessment | $232,880 | Total Assessment | $333,334 |
PROPERTY TAXES
Parcel Number
23-09-221-001
Land Assessment
$232,880
Improvements Assessment
$100,454
Total Assessment
$333,334
(619) 297-0055
x302
CONTACTS
-
Jason Pongsrikul -
Chris Barry -
Pharma Property Group- Drugstore Specialists
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Former CVS $2.3M Guaranteed Income | 900 E Main St
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