Brick and Vinyl Duplex
For Sale
Contact for pricing
109 Nina Court, Pekin, IL 61554
Contiguous rental community with two-bedroom units, unfinished basements, attached garages, and private patios.
Property Size11,536 SF
Price / SF$139.91
Days on Market49
Property Features for 109 Nina Court
General Information
Standard status
Active
Size
11,536 SF
Total Parking Spaces
12
Property subtype
Multifamily
Occupancy
91%
Units
Unit Mix
12 x 2BR/1BA
Multifamily Units
12
Parking per Unit
1
Additional Details
Road Access
Yes
Amenities
private patio
full unfinished basement with laundry hookups
Building Details
Year Built
1976
Year Renovated
2016
Buildings
6
Stories
1
Units
12
Tenancy
Multi
Construction
brick and vinyl-sided
Listing Agency:
RE/MAX Traders Unlimited
(309) 241-6742
Listed By:
Michael Kolbus · License #475.213462
Source:
Crexi
Added: Jul 15
Changed: Aug 30
Last Checked: Aug 30 at 10:57PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX Traders Unlimited
Investment Insights
Based on property information with market context.
This contiguous duplex portfolio at 109 Nina Court comprises six brick and vinyl-sided buildings with 12 rental units totaling 11536 square feet. Each unit includes two bedrooms, one bathroom, a family room, an unfinished basement with laundry hookups and storage, an attached one-car garage, and a private patio adjoining the backyard. The properties have remained smoke-free and pet-free under long-term family ownership.
Improvements include new roofs, gutters, and downspouts completed in 2020, along with vinyl siding installed throughout the complex in 2025. Individual residences have also received updates to furnaces, A/C systems, water heaters, sump pumps, and interior finishes. Eleven units are occupied under month-to-month leases, while unit #107 is vacant.
Improvements include new roofs, gutters, and downspouts completed in 2020, along with vinyl siding installed throughout the complex in 2025. Individual residences have also received updates to furnaces, A/C systems, water heaters, sump pumps, and interior finishes. Eleven units are occupied under month-to-month leases, while unit #107 is vacant.
Key Highlights
- Six duplexes with 12 rental units and 11536 total square feet
- Each 2‑bedroom, 1‑bath unit is approximately 950 square feet
- Unfinished basement with laundry hookups and storage in every unit
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$76,190
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.72%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,523,800
$1.5M
Cap Rate 7%
$1,088,429
$1.1M
Cap Rate 9%
$846,556
$846.6K
Market Conditions
NOI Build-Up for 11,536 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$117.7K $10.20/SF
− Vacancy
−$8.8K −$0.77/SF
EGI
$108.8K $9.44/SF
− OpEx
−$32.7K −$2.83/SF
NOI
$76.2K $6.60/SF
Area
Tazewell County, IL
Vacancy
7.50%
Lease Rate
$10.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,523,800
Cap Rate 7%
$1,088,429
Cap Rate 9%
$846,556
Alternative Uses
Best Use
Multifamily LT 5
$1.09M
$952.4K – $1.27M
NOI $76,190 @ 7.0% cap · market cap 4.72%
Second Best
Apartment 5plus
$966.1K
$845.4K – $1.13M
NOI $67,629 @ 7.0% cap · market cap 4.19%
Theoretical Best
Office A
$4.51M
$3.95M – $5.27M
NOI $315,996 @ 7.0% cap · market cap 19.58%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
12
Residential units
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
17
Businesses Nearby
Explore this area
Business Placement
Demographics for 61554, IL
40,854
Population
18,788
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
90%
High-School Grad
73.8 sq mi
ZIP Area
554
Density / Sq Mi
$62,484
Median Household Income
$41,718
Median Earnings
$814
Median Rent
$123,500
Median Home Value
Market
Vacancy Rate% for Multifamily in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Contiguous rental community with two-bedroom units, unfinished basements, attached garages, and private patios.
Where is this duplex located?
The property is located at 109 Nina Court Pekin, IL.
What is the asking price?
The asking price for this property is $1,614,000.
What are key features of this property?
This property features: Six duplexes with 12 rental units and 11536 total square feet; Each 2‑bedroom, 1‑bath unit is approximately 950 square feet; Unfinished basement with laundry hookups and storage in every unit
