320 Derby StPekin, IL 61554

Property Details for 320 Derby St

Year built

1960

Lot size

0.29 AC

Property size (Sq ft)

3,240 SF

Property type

Specialty properties

APN

04-10-03-417-012

APU

41003417012

Description

This exceptional mixed-use property, located at 320 Derby Street in Pekin, Illinois, presents a unique investment opportunity. The 3,240 square foot building sits on a 0.29-acre lot and is zoned B3, offering versatility for a variety of uses. Currently configured as a bar and restaurant, the space features a partially renovated kitchen and walk-in cooler, ready for a final touch. The building boasts a poured concrete parking lot, a steel roof, and steel siding. High-quality craftsmanship is evident in the custom ceramic tile bathroom and bar area. Significant upgrades have been completed, including updated electrical, plumbing, and HVAC systems, along with energy-efficient spray foam insulation. This single-story, Class B building offers one unit within a single building. The asking price is $179,900, translating to $55.52 per square foot. Its prime location on Derby Street makes it an ideal spot for a thriving business. The property's features and location combine to create a compelling investment opportunity in the vibrant Pekin market. This turnkey property is ready for immediate occupancy and offers significant potential for return on investment. The existing infrastructure and recent improvements minimize upfront costs, allowing for a quick start to operations. The ample parking and strategic location ensure high visibility and accessibility for customers. This is a rare opportunity to acquire a well-maintained, updated commercial property in a desirable location.

• Alternative Use

  Use

  Valuation

  Residential

  $992,192

  Hospitality

  $908,842

  Educational

  $756,146

  Medical

  $782,151

  Retail

  $1,176,228

Location Insight

City

Pekin

County

Tazewell

State

Illinois

Latitude

40.5563

Longitude

-89.65

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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