For Sale
$1,800,000

4712 University StPeoria, IL 61614

Noodles & Company, Dog Haus, High NOI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional retail investment opportunity presents a 5,050 square foot, multi-tenant shopping center in Peoria, Illinois, boasting a 100% occupancy rate. Located at 4712 N University St, this property features a strong tenant lineup with Noodles & Company and Dog Haus, both national brands with significant brand recognition and a weighted average lease term of nearly six years. The property benefits from a prime location at a highly trafficked intersection, with excellent visibility due to a pylon sign on University Street. The site enjoys proximity to Metro Centre, a well-established shopping center with over 1.2 million annual visits, and a dominant Schnucks grocery store, generating over 655,500 annual visits. Built in 2014, this property sits on a 1.16-acre lot and offers a compelling 7.00% cap rate with a Net Operating Income (NOI) of $124,344, representing a strong return on investment. The Peoria Farmers Market, operating seasonally at the adjacent Metro Centre, further enhances the property's appeal and draws additional foot traffic. The surrounding area boasts a robust demographic profile, with a population of 113,700 residents within a 5-mile radius and an average household income of $84,000. This property offers a rare opportunity to acquire a well-positioned, high-performing retail asset in a thriving market. The asking price is $1,800,000.

Highlights

  • 5,050 SF multi-tenant retail center in Peoria, IL, with 100% occupancy.
  • Strong national tenant lineup (Noodles & Company and Dog Haus) with a weighted average lease term of nearly six years.
  • Prime location at a highly trafficked intersection with excellent visibility and pylon signage.
  • Shadow anchored by a Schnucks grocery store and adjacent to Metro Centre, a shopping center with over 1.2 million annual visits.
  • Strong demographics: 113,700 residents within a 5-mile radius with an average household income of $84,000; seasonal boost from the Peoria Farmers Market.

Property Details for 4712 University St

Property type
Lifestyle centers, Power centers
Square Feet
5,050 SF
Year Built
2014
Lot Size (sq. ft)
5,052,960 SF

Location Insight

City
Peoria
County
Peoria
State
Illinois
Latitude
40.744788787161
Longitude
-89.612025182759
4712 University St, Peoria, Illinois

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4712 University St
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