266 Eastgate Dr - Warehouse FOR SALE


Danville, IL 61834
$2,893,000 USD
317-432-0943
266 Eastgate Dr, Danville, IL for Sale
$2,893,000 USD
Warehouse - FOR SALE
1/12
null | 8% Cap Rate

266 Eastgate Dr
Danville, IL 61834


HIGHLIGHTS

  • ANCHORED BY HIGHLY SECURED AUTOZONE NNN LEASE | INVESTMENT GRADE CREDIT TENANT
  • STICKY TENANT | 26 + YEARS OF HISTORICAL OCCUPANCY | RECENT EARLY RENEWAL | MISSION CRITICAL LOCATION
  • TREMENDOUS VALUE ADD OPPORTUNITY | MULTIPLE PATHS TO VALUE ENHANCEMENT
  • HIGH CONNECTIVITY STRATEGIC MIDWEST LOCATION | SOLID INDUSTRIAL BUILDING FUNDAMENTALS
  • LOCATION WITHIN THRIVING DANVILLE SUBMARKET LOW VACANCY, SCARCE SUPPLY, STRONG RENT GROWTH

OVERVIEW

ANCHORED BY HIGHLY SECURED AUTOZONE NNN LEASE | INVESTMENT GRADE CREDIT TENANT — AutoZone is a publicly traded (NYSE : AZO) Fortune 500 leading retailer and leading distributor of automotive replacements parts and accessories in the United States. — In 2024, AutoZone boasted Annual Revenues of over $18.5 Billion and features an investment grade “BBB” credit rating (S&P) creating a highly stable / secured income stream. — AutoZone’s NNN lease structure calls for extremely limited landlord responsibilities. The lease has three (3) options remaining of three (3) years each with fixed increases at the start of each period. STICKY TENANT | 26 + YEARS OF HISTORICAL OCCUPANCY | RECENT EARLY RENEWAL | MISSION CRITICAL LOCATION — AutoZone has been operating the subject site as a centralized product returns facility since 1998 (26 + years of successful historical occupancy). During that time frame, AutoZone has renewed the lease eleven (11) times including a recent early five (5) year extension pushing their expiration out to September 2031 = 5.50 Years Remaining (as of 3/1/26 Analysis Start Date). — The subject facility processes returns of products, handles inventory for returns, and manages the logistics for shipping those products back to stores. It serves as a key part of AutoZone’s supply chain. — In addition, the returns facility directly supports / is symbiotic with the ±450,000 square foot AutoZone owned hub distribution center located at 800 Lynch Road, Danville, IL (less than 2 miles directly north of the subject property). TREMENDOUS VALUE ADD OPPORTUNITY | MULTIPLE PATHS TO VALUE ENHANCEMENT — In addition to the stable income stream from AutoZone, the investment offers an attractive upside opportunity with various paths to property value enhancement. — 17,250 SF (20% of GLA) is leased to Mervis Industries, a regional recycling company and former owner of the subject property. Mervis will vacate their space in October 2026, and Seller will guarantee the space for an additional twelve (12) months to October 2027 presenting a new investor with a tremendous opportunity / ample time to: — Enhance overall asset credit / value by leasing the additional space to AutoZone (expansion). — Enhance asset value by leasing the space at substantially higher market rents within the thriving / tight Danville industrial market. HIGH CONNECTIVITY STRATEGIC MIDWEST LOCATION | SOLID INDUSTRIAL BUILDING FUNDAMENTALS — Located directly North of Exit 220 on I-74 (80 Miles West of Indianapolis), a major NW/SE interstate which connects the site to the greater Midwest region that it serves. — Danville is centrally located between several major Midwest hubs, such as Chicago, Indianapolis, and St. Louis, providing distribution centers with efficient access to a large customer base. LOCATION WITHIN THRIVING DANVILLE SUBMARKET LOW VACANCY, SCARCE SUPPLY, STRONG RENT GROWTH — The property is located within the Danville Industrial Submarket of Northern Illinois. The Danville industrial market contains approximately 7.9 million SF of total industrial inventory. — As of Q4 2025, Danville’s vacancy rate was a mere 5.6% with ZERO (0) SF currently Under Construction and robust 5.9% average annual rent growth over the past 5 years.

FOR SALE DETAILS

PRICE

$2,893,000 USD

PRICE/SF

$34 USD /SF

CAP RATE

8%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1985

UTILITIES

-

CLEAR CEILING HT

26 Ft

DOCKS

3

DRIVE INS

1

PARKING SPACES

99

LAND DETAILS

LAND ACRES

10.39

LAND SF

452,588

ZONING

I-2

APN/PARCEL ID

23-12-451-016

ASK ABOUT THIS PROPERTY

Kevin FoleyCBREMore Info
317-432-0943

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Kevin FoleyCBREMore Info
317-432-0943

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