800 S Gilbert St - Warehouse FOR SALE


Danville, IL 61832
$4,800,000 USD
312-327-5470
800 S Gilbert St, Danville, IL for Sale
$4,800,000 USD
Warehouse - FOR SALE
1/9
null | 10.28% Cap Rate

800 S Gilbert St
Danville, IL 61832


HIGHLIGHTS

  • Multi-tenant industrial investment opportunity
  • Mix of national and local credit tenancy | Thyssenkrupp Crankshaft (TKAMY: OTCMKTS)
  • Room to increase rents | Credit tenant paying $2.15/SF Mod. Gross
  • High yield offering | In-place cap rate of 10.28%
  • Significant capital improvements recently completed including roof
  • Priced significantly below replacement cost at $27.42/SF

OVERVIEW

The Doughty Industrial Group of Marcus & Millichap is pleased to present the fee-simple sale offering of 800 S Gilbert Street, Danville, Illinois a fully occupied multi-tenant industrial building. The property resides directly the Interstate 74 and U.S. Route 150 interchange. The 175,050 square foot property consists of two units, suite A which is 85,050 square feet and suite B which is 90,000 square feet. Suite A is occupied by Thyssenkrupp Crankshaft (TKAMY: OTCMKTS) while suite B is occupied by Dawson Logistics, LLC. Both tenants are operating on Modified Gross lease structures with Thyssenkrupp being significantly under market at $2.15/SF Modified Gross. Both Thyssenkrupp and Dawson Logistics have renewed their leases early showing commitment to the property. The acquisition of this offering provides an investor with the opportunity to acquire a stabilized industrial asset with significant future upside. At the current list price of $4,800,000 the investment generates a NOI of $493,568 which equates to a capitalization rate of 10.28%.

FOR SALE DETAILS

PRICE

$4,800,000 USD

PRICE/SF

$26 USD /SF

CAP RATE

10.28%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1947

UTILITIES

Gas, Water, Sewer

CLEAR CEILING HT

21 Ft

DOCKS

10

DRIVE INS

2

PARKING SPACES

80

LAND DETAILS

LAND ACRES

15.69

LAND SF

683,456

ZONING

I-1

APN/PARCEL ID

23-17-100-035,23-17-100-036

ASK ABOUT THIS PROPERTY

Peter DoughtyMarcus & MillichapMore Info
312-327-5470

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Peter DoughtyMarcus & MillichapMore Info
312-327-5470

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.