700 Main StEast Peoria, IL 61611

Property Details for 700 Main St

Year built

1999

Lot size

1.44 AC

Property size (Sq ft)

5,868 SF

Property type

Grocery and convenience stores

APN

04-04-12-215-003

APU

40412215003

Description

This exceptional 4,828-square-foot flex warehouse building, situated on a 1.17-acre lot in East Peoria, Illinois, presents a compelling investment opportunity. Constructed in 2006 by Gilbert Construction, the property boasts excellent condition and a versatile layout. Features include a small office area, a restroom with a shower, and two distinct warehouse/shop areas. Access is provided by three overhead drive-in doors. The building is equipped with in-floor heat, two tankless water heaters, and a 200-amp electrical service. The western portion offers 15-foot ceilings, two 12x10 overhead doors, and ample open shop space. The eastern area features 10-foot ceilings, one overhead door, and additional open space. A significant advantage is the pre-installed air compressor and compressed air lines throughout. A hoist is potentially available for separate negotiation. The property is zoned B3 and offers a single tenancy. The asking price is $395,000, translating to $81.81 per square foot. This single-story building presents a rare combination of functionality and location, making it ideal for a variety of commercial uses.

• CAP approach

  CAP return

  Valuation

  6%

  $1,557,520

  6.5%

  $1,437,710

  7%

  $1,335,017

• Comparable approach

  Method

  Valuation

  Relative Method

  $1,501,260

  Geo Method

  $1,152,823

• Alternative Use

  Use

  Valuation

  Residential

  $1,212,762

  Hospitality

  $1,110,884

  Educational

  $924,242

  Medical

  $956,028

  Retail

  $1,437,710

Location Insight

City

Creve Coeur

County

Tazewell

State

Illinois

Latitude

40.6356

Longitude

-89.6083

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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