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    1100 Washington St East Peoria, IL 61611

    Sponsored
    For Sale
    $239,900
    Added:
    Feb 14, 2025
    Days on Market:
    340

    Property Features for 1100 Washington St

    General Information

    Property type
    Office Properties & Spaces

    We can help!

    Listing Contact
    Mark Wagner
    Mark Wagner

    Learn more

    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Clothing Store Auto Repair Shop

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    East Peoria
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.5628323
    Latitude
    40.6679038

    Nearby Comparable

    • $399,900
      10,894 SF

      East Peoria Multi-Use Property

      Multi-unit property with retail, gym, apartment, and storage.
      1101 E Washington St, East Peoria, IL 61611
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      Fairview Ave Multifamily Land Opportunity

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      Prime East Peoria Commercial Land

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    • $1,500,000
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      Brickell Ave Executive Office Suite

      Prime Brickell location, 1000 sq ft office.
      0 Il-116 & Highview Rd, East Peoria, IL 61611
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      Modern Car Wash Investment Opportunity

      East Peoria car wash property with strong tenant and location.
      540 W Camp St, East Peoria, IL 61611
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    • $13,747,000
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      Large Industrial Property Near Caterpillar

      302,435 SF industrial property with long-term tenant near Caterpillar.
      600 Camp St W, East Peoria, IL 61611
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      Industrial Warehouse Space for Sale

      157,112 sq ft industrial warehouse on 6.16 acres.
      2400 SW Washington St, Peoria, IL 61611
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    • $1,250,000
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      East Peoria Restaurant - $1.25M

      Turnkey Restaurant, High Traffic Location
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    • $400,000
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      Prime M2 Zoned Industrial Land

      4 Acres, East Peoria, IL - Investment Opportunity
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    • $517,500
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      East Peoria Riverfront Commercial Land

      1.32 Acres, Prime Location, $517,500
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    • $79,900

      East Peoria Commercial Land - $79,900

      Prime East Peoria lot, multi-family zoning.
      1 Briarbrook Dr, East Peoria, IL 61611
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    Nearby Similar for Sale

    • New
      $499,900
      3.47 Acres

      East Peoria Industrial Building on 3 Acres

      10,220 SF industrial building on 3 acres in East Peoria.
      2485 Washington Rd, East Peoria, IL 61611
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    • New
      $120,000
      0.21 Acres

      East Peoria Multifamily Investment Opportunity

      Two-unit property with brick exterior, shared laundry, and ample parking.
      2510 Springfield Rd, East Peoria, IL 61611
      View Details
    • $5,600,000
      5,970 SF

      Modern Car Wash Investment Opportunity

      East Peoria car wash property with strong tenant and location.
      540 W Camp St, East Peoria, IL 61611
      View Details
    • $13,747,000
      302,435 SF

      Large Industrial Property Near Caterpillar

      302,435 SF industrial property with long-term tenant near Caterpillar.
      600 Camp St W, East Peoria, IL 61611
      View Details
    • $399,900
      10,894 SF

      East Peoria Multi-Use Property

      Multi-unit property with retail, gym, apartment, and storage.
      1101 E Washington St, East Peoria, IL 61611
      View Details
    • $850,000
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      East Peoria Office Space Available

      Office spaces with flexible layouts and convenient location for sale.
      3000-3002 N Main St E, East Peoria, IL
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    • $999,000
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      East Peoria Office Complex

      Multi-Tenant Office Building, High Occupancy
      3000 Main St, East Peoria, IL 61611
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    • $1,250,000
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      East Peoria Restaurant - $1.25M

      Turnkey Restaurant, High Traffic Location
      900 Riverside Dr, East Peoria, IL 61611
      View Details

    FAQs

    Where is this office property / space located?
    The property is located at 1100 Washington St East Peoria, IL.
    What is the asking price?
    The asking price for this property is $239,900.
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    1100 Washington St East Peoria, IL 61611
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    East Peoria, IL 61611
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1100 Washington St East Peoria, IL 61611
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    We can help!
    Listing Contact
    Mark Wagner
    Mark Wagner
    Real Estate License ID: 477014313
    Learn more
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