3000 Main StEast Peoria, IL 61611

Property Details for 3000 Main St

Year built

1998

Lot size

0.68 AC

Property size (Sq ft)

8,378 SF

Property type

Office properties

Property subtype

Other office properties

APN

01-01-23-101-039

APU

10123101039

Description

This exceptional investment opportunity presents a fully leased, multi-tenant office complex situated at 3000-3004 N Main St, East Peoria, IL 61611. The property encompasses 8,378 square feet across three units within two single-story buildings, constructed in 1998. The building boasts a desirable B3 zoning classification and ample parking with 35 spaces on a 1.43-acre lot featuring a 6-inch poured concrete surface. Currently operating at 100% occupancy, the property generates a strong NOI of $51,268, translating to a compelling 7.65% cap rate. The asking price is $999,000, representing a price per square foot of $119.24. Tenants include Physicians Mutual (3,441 sq ft), JBN Title (1,496 sq ft), and a dental lab (3,441 sq ft plus a 324 sq ft garage with an 8-foot overhead door). The property is offered as an owner/user investment with a NNN lease structure. This prime location on Main Street in East Peoria offers excellent visibility and accessibility. The property's strong tenant base, high occupancy rate, and attractive financial metrics make it an ideal investment for discerning buyers seeking a stable and profitable commercial real estate asset.

• CAP approach

  CAP return

  Valuation

  6%

  $1,512,747

  6.5%

  $1,396,382

  7%

  $1,296,641

• Comparable approach

  Method

  Valuation

  Relative Method

  $850,561

  Geo Method

  $1,091,234

• Alternative Use

  Use

  Valuation

  Residential

  $1,731,514

  Hospitality

  $1,586,057

  Educational

  $1,319,581

  Medical

  $1,364,964

  Retail

  $2,052,682

Location Insight

City

East Peoria

County

Tazewell

State

Illinois

Latitude

40.6998

Longitude

-89.5375

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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