7707 Knoxville AvePeoria, IL 61614

Property Details for 7707 Knoxville Ave

Lot size

3.53 AC

Property type

Commercial real estate

APN

14-08-226-023

APU

1408226023

Description

This exceptional commercial property, located at 7707 North Knoxville Avenue in Peoria, Illinois, offers 8,826 square feet of newly renovated office space within a larger 45,000 square foot building. The single-tenant building boasts a highly visible location near the corner of Pioneer Parkway, experiencing daily traffic counts of 31,750 vehicles. Its attractive design features concrete, brick, and glass construction, highlighted by a two-story atrium entry. The property enjoys convenient access to major roadways, including the interstate system, and is situated near various business amenities. The building is professionally managed and meticulously maintained, offering a full-service lease that encompasses heating, cooling, general maintenance, electrical and lighting systems, plumbing, pest control, and energy-efficient LED lighting throughout the building and parking lot. Recent upgrades include a backup power generator, modern video messaging boards in the renovated lobby, an updated fitness/wellness room, a relaxing outdoor patio, Starlink internet access, and a brand-new monument sign. The property's APN is 14-08-226-023 and is zoned C1. This is a prime opportunity for businesses seeking a well-maintained, conveniently located, and technologically advanced office space in a high-traffic area of Peoria. The building has one suite.

• CAP approach

  CAP return

  Valuation

  6%

  $31,466,400

  6.5%

  $29,045,900

  7%

  $26,971,200

• Comparable approach

  Method

  Valuation

  Relative Method

  $15,610,900

  Geo Method

  $20,028,200

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $59,011,300

  Retail / Commercial

  $29,903,100

  Mixed-Use / Specialty

  $29,514,700

  Hospitality / Lodging

  $21,287,200

  Office

  $29,045,900

  Institutional / Educational

  $30,582,700

  Residential Income

  $35,781,800

  Multifamily

  $44,476,800

  Automotive / Energy

  $26,213,800

  Parking / Income-Based Land

  $9,324,440

  Restaurant / Food Service

  $14,749,500

  Healthcare / Senior Housing

  $30,555,800

Location Insight

City

Peoria

County

Peoria

State

Illinois

Latitude

40.7809

Longitude

-89.6035

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

FAQs

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