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3526 N California Ave

7,776 SF 100% Leased Office Building Peoria, IL 61603 $400,000 ($51/SF) 9.75% Cap Rate

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Executive Summary

This fully leased, brick office building features 10 units and has been well maintained. The building is divided in two, with one side being a single story and the other having two stories. Recent major improvements include roof replacements in 2020 and 2021, parking lot in 2015, and HVAC systems as necessary - 4 updated since 2018. Tenants are on annual contracts and include professionals, nonprofits and service businesses. Rent rolls, leases and P&L statements available on request for qualified buyers. Showings will be approved only with an accepted letter of intent.

3526 N California Avenue - Offering Memorandum

Property Facts

Sale Type

Investment

Property Type

Office

Building Size

7,776 SF

Building Class

Year Built

1968

Price

$400,000

Price Per SF

$51

Cap Rate

9.75%

NOI

$39,000

Percent Leased

100%

Tenancy

Multiple

Building Height

2 Stories

Typical Floor Size

3,888 SF

Building FAR

1.04

Land Acres

0.17 AC

Zoning

CN - Commercial

Parking

23 Spaces (2.96 Spaces per 1,000 SF Leased)

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map
Floor Plan

3526 N California Ave, Peoria, IL - Floor Plan - Image 1

3526 N California Ave, Peoria, IL - Floor Plan - Image 2

PROPERTY TAXES

Parcel Numbers	Multiple 14-28-428-002 14-28-428-003 14-28-428-001 14-28-428-004	Improvements Assessment	$110,010
Land Assessment	$14,240	Total Assessment	$124,250