3605 Parish AvePeoria, IL 61604

Property Details for 3605 Parish Ave

Lot size

1.37 AC

Property type

Commercial real estate

APN

14-29-401-012

APU

1429401012

Description

This exceptional investment opportunity presents a fully leased, 23,454 square foot industrial distribution/flex building in Peoria, Illinois. The property, located at 3605 N Parish Avenue, boasts a strong Net Operating Income (NOI) of $156,876, resulting from a 100% occupancy rate under a triple net (NNN) lease with Red Bull. The lease is a five-year term with two five-year renewal options, providing long-term stability and minimal landlord responsibilities. The building features two loading docks, two overhead doors, and ample concrete parking. Situated on a 3.05-acre lot, the property also includes adjacent land zoned for potential future development, offering significant upside for the savvy investor. The strategic location along War Memorial Drive (US Rt. 150) provides easy access to I-74, serving a substantial population within a three-mile radius with a high average household income. The asking price is $2,850,000, representing a price per square foot of $121.51. This is a rare opportunity to acquire a high-performing, net-leased industrial property with significant growth potential.

• Alternative Use

  Use

  Valuation

  Residential

  $12,333,678

  Hospitality

  $11,297,583

  Educational

  $9,399,456

  Medical

  $9,722,718

  Retail

  $14,621,376

Location Insight

City

Peoria

County

Peoria

State

Illinois

Latitude

40.7316

Longitude

-89.6097

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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