Shopping Strip
Jersey Mike's & Corporate T-Mobile
3655 N Vermilion St, Danville, IL 61832
Listing Price: $1,985,000
Investment Overview
Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a new construction, 2-tenant retail center featuring Jersey Mike’s & a corporate T-Mobile location. Located on a padsite to a high traffic Meijer Supercenter, this site benefits from the traffic Meijer drives to the area with its grocery, gas and diversified merchandise offerings. Per Placer.AI, this Meijer location sees 1.6 Million visitors every year. The property is also flanked by a new construction Starbucks and OSF Urgent Care, both of which drive additional traffic to the site.
Jersey Mike’s & T-Mobile signed new 10YR NNN leases in mid-2024, providing a high level of stability to the cash flow and a weighted average lease term that exceeds 9 years. Priced below $2M, at a 7.15% CAP, this property offers an above market yield for new construction leased to such credit-worthy tenants.
With exposure to over 20,000 vehicles per day and surrounding household incomes in excess of $90,000 annually, the retail fundamentals and dynamism of this trade area are self-evident, ensuring the long-term viability of this opportunity.
Danville is located less than 40 miles east of Champaign, IL, just off I-74, the primary interstate between Champaign and Indianapolis. Danville is less than 4 miles from the Indiana border, making it an important logistics hub for much of the surrounding region. This retail corridor serves an especially wide radius as the result of its strategic positioning at the crossroads of the interstate and several state highways.
Jersey Mike's & Corporate T-Mobile
Investment Highlights
- 2-Tenant brand new construction padsite to a high-traffic Meijer Supercenter (1.6M visitors per year, per Placer.AI)
- New 10YR leases to Jersey Mike's and T-Mobile (Corporate location)
- Priced at a 7.15% CAP and at offered at a highly accessible sub-$2M price point
- Nearly 10 years of weighted average lease term
- Both leases are NNN with 10% rent increases every 5 years, including in the tenants' option periods
- Located on a dynamic and growing retail trade area, adjacent to a new construction TJ Maxx / Kohl's power center, a Starbucks drive-thru and across the street from an established Lowe's location
- Traffic counts exceed 20,000 vehicles per day. Household incomes exceed $90,000 in a 1-mile radius
- Danville is less than 4 miles from the Indiana state line and less than 40 miles east of Champaign (home of the University of Illinois)
Exclusively Listed By
Listing Price: $1,985,000
Investment Highlights
- 2-Tenant brand new construction padsite to a high-traffic Meijer Supercenter (1.6M visitors per year, per Placer.AI)
- New 10YR leases to Jersey Mike's and T-Mobile (Corporate location)
- Priced at a 7.15% CAP and at offered at a highly accessible sub-$2M price point
- Nearly 10 years of weighted average lease term
- Both leases are NNN with 10% rent increases every 5 years, including in the tenants' option periods
- Located on a dynamic and growing retail trade area, adjacent to a new construction TJ Maxx / Kohl's power center, a Starbucks drive-thru and across the street from an established Lowe's location
- Traffic counts exceed 20,000 vehicles per day. Household incomes exceed $90,000 in a 1-mile radius
- Danville is less than 4 miles from the Indiana state line and less than 40 miles east of Champaign (home of the University of Illinois)
Investment Overview
Marcus & Millichap is pleased to present the opportunity to purchase the fee simple interest in a new construction, 2-tenant retail center featuring Jersey Mike’s & a corporate T-Mobile location. Located on a padsite to a high traffic Meijer Supercenter, this site benefits from the traffic Meijer drives to the area with its grocery, gas and diversified merchandise offerings. Per Placer.AI, this Meijer location sees 1.6 Million visitors every year. The property is also flanked by a new construction Starbucks and OSF Urgent Care, both of which drive additional traffic to the site. Jersey Mike’s & T-Mobile signed new 10YR NNN leases in mid-2024, providing a high level of stability to the cash flow and a weighted average lease term that exceeds 9 years. Priced below $2M, at a 7.15% CAP, this property offers an above market yield for new construction leased to such credit-worthy tenants. With exposure to over 20,000 vehicles per day and surrounding household incomes in excess of $90,000 annually, the retail fundamentals and dynamism of this trade area are self-evident, ensuring the long-term viability of this opportunity. Danville is located less than 40 miles east of Champaign, IL, just off I-74, the primary interstate between Champaign and Indianapolis. Danville is less than 4 miles from the Indiana border, making it an important logistics hub for much of the surrounding region. This retail corridor serves an especially wide radius as the result of its strategic positioning at the crossroads of the interstate and several state highways.
Exclusively Listed By
To view property details and documents, sign up for a free MyMMI account.
Explore exclusive listings, access research insights, and set up automated alerts for a personalized experience. Sign up now to elevate your property search.
