Flexible Acquisition | Robust Retail Corridor | 4700 N University St Suite 80
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Flexible Acquisition | Robust Retail Corridor 4700 N University St Suite 80
6,000 SF Vacant Retail Building Online Auction Sale Peoria, IL 61614
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Investment Highlights
- Seamlessly accessible freestanding 6,000-SF retail property with multiple entry points and an abundant parking lot in the Peoria, Illinois, MSA.
- Favorable owner/user or value-add investment opportunity within the progressing North Peoria Submarket, seeing lowering vacancies annually.
- Offered to the market via an absolute auction, the first bid will meet reserve.
- Advantageously located within the Metro Centre shopping center by Joann Fabrics and Schnucks, which is outparceled by Wingstop and Starbucks.
- Beneficially positioned within a 3-mile radius of retailers Target, Walmart Supercenter, Aldi, Sam’s Club, Kroger, Dollar General, Best Buy, and more.
Executive Summary
Preferably positioned 6,000-square-foot freestanding retail building with an abundant on-site surface parking lot in Peoria, Illinois. 4700 N University Street Suite 80 boasts sought-after accessibility with entry points on all sides of the property within the Metro Centre shopping plaza just off a busy signalized intersection, seeing over 16,800 vehicles per day. The single-story dynamic property is beneficially situated adjacent to Joann Fabrics, PNC Bank, and is located right by Schnucks with an in-house CVS accompanied by its outparcels Starbucks, McAlister’s Deli, and Wingstop.
4700 N University Street Suite 80 is ideally located about 2 miles from the major Interstate 74 and US 150 highway interchange. This flexible retail building is surrounded by an abundance of conveniences as it is in one of Peoria’s bustling retail corridors. Within a brief 3-mile radius of the property are internationally and nationally reputable businesses that draw incredible demand to the area. Renowned retailers and fast-food chains in this immediate area include Walmart Supercenter, Target, Aldi, Best Buy, McDonald’s, Chick-fil-A, Kroger, Dollar General, Sam’s Club, Hy-Vee, Dunkin’, Taco Bell, and many more.
4700 N University Street Suite 80 presents an owner/user and value-add investment opportunity for a buyer seeking a dimensional acquisition with excellent visibility surrounded by a robust retail corridor.
Property tours are available by appointment only. Please contact the broker to schedule.
4700 N University Street Suite 80 is ideally located about 2 miles from the major Interstate 74 and US 150 highway interchange. This flexible retail building is surrounded by an abundance of conveniences as it is in one of Peoria’s bustling retail corridors. Within a brief 3-mile radius of the property are internationally and nationally reputable businesses that draw incredible demand to the area. Renowned retailers and fast-food chains in this immediate area include Walmart Supercenter, Target, Aldi, Best Buy, McDonald’s, Chick-fil-A, Kroger, Dollar General, Sam’s Club, Hy-Vee, Dunkin’, Taco Bell, and many more.
4700 N University Street Suite 80 presents an owner/user and value-add investment opportunity for a buyer seeking a dimensional acquisition with excellent visibility surrounded by a robust retail corridor.
Property tours are available by appointment only. Please contact the broker to schedule.
Data Room Click Here to Access
- Operating and Financial Statements
- Purchase Agreement
- Title and Insurance
Market Analytics Click Here to Access
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Market Sale Price per SF
Peoria - IL USA
Market Cap Rate
Peoria - IL USA
Market Sale Price per SF by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Cap Rate by Star Rating
1 - 2 Star
3 Star
4 - 5 Star
Market Sale Price per SF Distribution
Market Cap Rate Distribution
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Storefront
Building Size
6,000 SF
Building Class
C
Year Built
2000
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
1.20 AC
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
9,095
71,578
116,224
2020 Population
9,362
73,424
116,488
2029 Population
8,870
69,883
114,351
2024-2029 Projected Population Growth
-2.5%
-2.4%
-1.6%
Daytime Employees
7,477
35,398
102,072
Total Businesses
1,071
4,422
9,426
Average Household Income
$73,874
$70,042
$71,010
Median Household Income
$57,456
$51,738
$50,520
Total Consumer Spending
$111.2M
$793.9M
$1.3B
Median Age
41.6
39.1
37.9
2024 Households
4,199
31,515
50,030
Percent College Degree or Above
22%
19%
17%
Average Home Value
$150,568
$141,209
$153,171
Nearby Major Retailers
PROPERTY TAXES
| Parcel Number | 14-20-401-048 | Improvements Assessment | $98,920 |
| Land Assessment | $82,230 | Total Assessment | $181,150 |
PROPERTY TAXES
Parcel Number
14-20-401-048
Land Assessment
$82,230
Improvements Assessment
$98,920
Total Assessment
$181,150
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Keisha Hartshorn
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 478027045
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PHOTOS
STREET VIEW
STREET
MAP
Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
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Flexible Acquisition | Robust Retail Corridor | 4700 N University St Suite 80
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