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1003 Derby St Pekin, IL 61554

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For Sale
$1,685,000

Neighborhood retail center with national tenants and lease upside.

Lot size:
0.27 Acres

Property Features for 1003 Derby St

General Information

Lot size
0.27 Acres

Source: CMV Realty LLC Agent Gus Martinez

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Retail Center with Income Potential

The Derby Shopping Center, located at 1001-1105 Derby Street in Pekin, Illinois, is a neighborhood retail center with income-producing potential. The property is currently 39% occupied by tenants including a convenience store operator, a public charity, a food retailer, and Family Dollar. This provides stable cash flow with the potential to increase revenue by leasing the remaining vacant units. The property is located on a 3.12-acre lot at the corner of Derby and S 10th Street. Originally developed in 1966, the shopping center comprises a total of 43,835 square feet. The site benefits from pylon signage, three access points, and 129 parking stalls. More than 6,700 vehicles pass by the property each day. The property is located approximately 1 mile from the Court Street commercial corridor and is near UnityPoint Health Pekin Hospital. Several golf courses are also nearby, including Sunset Hills Golf Course, Parkview Golf Course, Lick Creek Golf Course, and Pekin Country Club. The property is reachable from Highways 9 and 29 in under 5 minutes and Interstate 74, 474, and 155 in roughly 10 to 15 minutes. There are six vacant units, including a 16,863-square-foot anchor space.
Property Profile Insight Report Location Intelligence

Current Use by Public Records

Shopping malls

Suggested Use

Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

Location Insight

  • Map
  • Local Demand
City
Pekin
County
Tazewell
State
Illinois
Longitude
-89.6379181
Latitude
40.556914

FAQs

What type of property is this?
Shopping center - Neighborhood retail center with national tenants and lease upside.
Where is this shopping center located?
The property is located at 1003 Derby St Pekin, IL.
What is the asking price?
The asking price for this property is $1,685,000.
What are key features of this property?
This property features: - Significant lease upside potential with 6 vacant units, including a large anchor space.; - Existing cash flow from a mix of regional and national tenants, including Family Dollar, providing immediate income.; - Excellent accessibility and visibility with a hard-corner location, three access points, and prominent pylon signage.
More about this property
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