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Warehouse

800 S Gilbert St.

800 S Gilbert St, Danville, IL 61832

Listing Price: $4,800,000

Cap Rate
10.28%
Gross SF
193,040
Price/Gross SF
$24.87
Lot Size
21.00 acres
Year Built
1947
Rentable SF
193,040

Investment Overview

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. Dawson Logistics recently renewed their lease early showing commitment to the property, and increased their rent from $3.50/SF to $4.00/SF Modified Gross.

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%.

Investment 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

Exclusively Listed By

Warehouse

800 S Gilbert St.

Listing Price: $4,800,000

Cap Rate
10.28%
Gross SF
193,040
Price/Gross SF
$24.87
Lot Size
21.00 acres
Year Built
1947
Rentable SF
193,040

Investment 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

Investment Overview

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. Dawson Logistics recently renewed their lease early showing commitment to the property, and increased their rent from $3.50/SF to $4.00/SF Modified Gross. 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%.

Exclusively Listed By

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