3100 Knoxville AvePeoria, IL 61603

Property Details for 3100 Knoxville Ave

Lot size

1.46 AC

Property type

Commercial real estate

APN

14-28-454-028

APU

1428454028

Description

This 39,000 square foot, Class B office building, situated on a 1.45-acre lot in Peoria, IL, presents a compelling investment opportunity. Built in 1954 and extensively renovated in 2010, the two-story building boasts 125 parking spaces and is conveniently located at the corner of Knoxville and Forrest Hill Avenues. The property features eight available office spaces ranging from 1 to 1,330 square feet, ideal for businesses of various sizes. Amenities include a large, well-equipped conference room with a flat-screen TV, internet access, and a kitchenette, all available for tenant use. Utilities are included in the competitive rental rates. The building is fully ADA compliant and serviced by an elevator. Public transportation is readily accessible, with city bus stops located directly at the intersection. Modern conveniences such as fiber optics are also available. Tenants enjoy access to a workout room and locker room with showers. The lower level offers a common area waiting room and kitchenette. The property is zoned OFFICE/CN and is in excellent condition. This is a rare opportunity to secure office space in a well-maintained, amenity-rich building in a desirable Peoria location.

• CAP approach

  CAP return

  Valuation

  6%

  $13,014,500

  6.5%

  $12,013,400

  7%

  $11,155,300

• Comparable approach

  Method

  Valuation

  Relative Method

  $6,456,670

  Geo Method

  $8,283,640

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $24,407,000

  Retail / Commercial

  $12,367,900

  Mixed-Use / Specialty

  $12,207,300

  Hospitality / Lodging

  $8,804,360

  Office

  $12,013,400

  Institutional / Educational

  $12,649,000

  Residential Income

  $14,799,300

  Multifamily

  $18,395,600

  Automotive / Energy

  $10,842,000

  Parking / Income-Based Land

  $3,856,580

  Restaurant / Food Service

  $6,100,380

  Healthcare / Senior Housing

  $12,637,900

Location Insight

City

Peoria

County

Peoria

State

Illinois

Latitude

40.7253

Longitude

-89.593

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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