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Danville Storage
623 E Voorhees St, Danville, Illinois 61832
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Property Info
Price: $3,500,000
Units: 520
Year Built: 1975-2017
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Download Marketing Package
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Broker Contact Info
Meir Perlmuter
614.360.9813
Meir.Perlmuter@marcusmillichap.com
Opportunity
The Market
Investment
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The Hatcher Group of Marcus & Millichap is pleased to exclusively offer for sale Danville Storage located in Danville, Illinois. The facility consists of 520 non-climate-controlled units totaling 57,775 net rentable square feet. The facility also features 22 parking spaces available for rent. The facility sits on two separate parcels that combine for 7.73 acres, leaving room for expansion. The property is fully fenced with a keypad, gated entry, an on-site management office, and 24-hour video surveillance.
The facility is located in Danville, Illinois, which is near the border of Indiana. They are located off a busy street and are surrounded by lots of residential neighborhoods, as well as, restaurants, retail stores, and schools. The facility is under two miles away from Lakeview College of Nursing and Danville Area Community College. It is also just four miles away from Vermilion Regional Airport. This offers the facility great street frontage and high daily traffic counts of around 9,800 cars per day off East Voorhees Street.
Danville Storage is being offered for $3,500,000 or $60.58 per rentable square foot.
Population
In 2021, the population in your selected geography is 41,594. The population has changed by -10.3 percent since 2000. It is estimated that the population in your area will be 40,893 five years from now, which represents a change of -1.7 percent from the current year. The current population is 50.4 percent male and 49.6 percent female. The median age of the population in your area is 39.8, compared with the U.S. average, which is 38.4. The population density in your area is 529 people per square mile.
Households
There are currently 16,400 households in your selected geography. The number of households has changed by -11.6 percent since 2000. It is estimated that the number of households in your area will be 16,167 five years from now, which represents a change of -1.4 percent from the current year. The average household size in your area is 2.4 people.
Income
In 2021, the median household income for your selected geography is $43,661, compared with the U.S. average, which is currently $65,694. The median household income for your area has changed by 37.8 percent since 2000. It is estimated that the median household income in your area will be $43,777 five years from now, which represents a change of 0.3 percent from the current year.
The current year per capita income in your area is $24,399, compared with the U.S. average, which is $36,445. The current year’s average household income in your area is $59,714, compared with the U.S. average, which is $94,822.
Employment
In 2021, 15,455 people in your selected area were employed. The 2000 Census revealed that 53.1 percent of employees are in white-collar occupations in this geography, and 46.9 percent are in blue-collar occupations. In 2021, unemployment in this area was 8.0 percent. In 2000, the average time traveled to work was 14.2 minutes.
Housing
The median housing value in your area was $82,537 in 2021, compared with the U.S. median of $227,827. In 2000, there were 12,304 owner-occupied housing units and 6,240 renter-occupied housing units in your area. The median rent at the time was $329.
Education
The selected area in 2021 had a lower level of educational attainment when compared with the U.S. averages. Only 5.5 percent of the selected area’s residents had earned a graduate degree compared with the national average of 12.0 percent, and 9.9 percent completed a bachelor’s degree, compared with the national average of 19.5 percent.
The number of area residents with an associate degree was higher than the nation’s at 9.4 percent vs. 8.3 percent, respectively.
The area had more high-school graduates, 38.8 percent vs. 27.2 percent for the nation. The percentage of residents who completed some college is also higher than the average for the nation, at 22.6 percent in the selected area compared with the 20.5 percent in the U.S.
■ 57,775 Net Rentable Square Feet
■ 520 Non-Climate Controlled Units
■ 22 Parking Spaces
■ Room for Expansion
■ Upside: Through Pushing Rents and Continued Lease Up
■ Very Strong Lease Up Growth: 11% Since Last Year
■ Close Proximity to Lakeview College of Nursing and Danville Community College
■ High Daily Traffic Counts: 9,800 Cars/Day off E Voorhees St
