3328 Willow Knolls DrPeoria, IL 61614

Property Details for 3328 Willow Knolls Dr

Year built

2005

Lot size

1.93 AC

Property size (Sq ft)

16,161 SF

Property type

Office properties

Description

This exceptional investment opportunity presents a fee-simple interest in a 16,161-square-foot, single-story office building situated on a 1.93-acre lot in Peoria, Illinois. Built in 2005, this property is currently 100% occupied by the U.S. Social Security Administration's Office of Hearing Operations under a modified gross lease with a corporate guarantee. The lease, with a remaining term of approximately 9.4 years, extends to April 6, 2034, representing a significant long-term commitment. The property boasts a strong 7.90% cap rate and a Net Operating Income (NOI) of $424,713, with an asking price of $5,375,015 ($332.59/sq ft). The building features 96 parking spaces and enjoys excellent visibility on West Willow Knolls Drive, near the intersection of US 150 and Illinois Route 6, providing convenient access to a densely populated area with a high average household income exceeding $97,000 annually. The tenant's mission-critical operation, overseeing eight Social Security Benefits Offices in the region, further enhances the investment's stability and long-term prospects. This is a rare opportunity to acquire a well-located, government-leased property with a proven track record and substantial remaining lease term. The property's strong demographics, favorable lease terms, and the tenant's exceptional credit rating (S&P: AA+) combine to create a compelling investment proposition.

Location Insight

City

Peoria

County

Peoria

State

Illinois

Latitude

40.7753

Longitude

-89.6456

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