Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    Retail/Office Building with Ample Parking Title is generated by Realmo AI

    7501 N University St, Peoria, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail and office spaces available in high-traffic location.

    Type:RETAIL
    Property size:
    1,089 SF
    Lot size:
    6.17 Acres
    Added:
    Jul 31, 2020
    Days on Market:
    2116
    Last Refresh:
    Apr 5 at 9:16 pm

    Property Features for 7501 N University St

    General Information

    Standard status
    Active
    Size
    1,089 SF
    Lot size
    6.17 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 7501 N University St Contact us

    We can help!

    Listing Contact
    Jason Miller
    Jason Miller

    Listing agent Jason Miller

    Listing office Maloof Commercial

    Listing date Jul 31, 2020

    Source Moodyscre

    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 Maloof Commercial

    HighLights

    • High traffic location on University Street (16,400 CPD)
    • Abundant parking with over 172 spaces
    • Multiple spaces available for lease, ranging from 120 SF to 3,904 SF
    • Excellent tenant history with numerous tenants having a 15+ year history
    • Retail/Office building with street level and garden level spaces
    • Building is 65,000 SF with approximately 33 tenants

    Overview

    This retail and office building on North University offers multiple spaces for lease, ranging from 120 to 3,904 square feet. The 65,000-square-foot property features both street-level and garden-level spaces suitable for retail and office use. With a high-traffic location on University Street experiencing 16,400 cars per day, the building provides abundant parking with over 172 spaces on site. The property currently houses approximately 33 tenants and has an excellent tenant history, with numerous tenants having been there for 15 years or more. The available space is 1,089 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Illinois Alcohol & Drug ... Medical Clinic Dukes Business Consulting Business Management Consultant Sylvan Learning of Peoria Tutoring Service Armstrong James L ... Dental Office Barkley Connie Dental Office

    Suggested Use

    Real Estate Agency Restaurant Law Firm Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

    Similar Places Nearby

    • Campustown Shopping Center — 1200 W Main St, Peoria, IL 61606
    • UPM Suites — 2104 W Moss Ave, West Peoria, IL 61604

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.6229
    Latitude
    40.7789

    Nearby Similar for Lease

    • Sponsored
      $129-$6,366/Mo
      11-1,292 SF

      IL, Peoria - Main St

      416 Main St, Unit 600, Peoria, IL 61602
      View Details
    • Contact for pricing

      Office Space in Peoria, IL

      Office space available for rent in Peoria, Illinois.
      2420 W Nebraska Avenue, Peoria, IL 61604
      View Details
    • Contact for pricing
      40,000 SF

      Industrial Space in Peoria, Illinois

      Versatile industrial property in a prime Peoria location for lease.
      9011 N UNIVERSITY Street, Peoria, IL 61615
      View Details
    • Contact for pricing

      Peoria Office Space For Rent

      2,525 SF office space with excellent accessibility and visibility.
      1820 N Sterling Avenue, Peoria, IL 61604
      View Details
    • $12 SF/Yr
      1,905 SF

      Main Street Office Space Available

      Office suites available on Main Street near medical facilities.
      711-719 Main St, Peoria, IL
      View Details
    • $5 SF/Yr
      22,736 SF

      Downtown Peoria Office Space Available

      22,736 SF office space for lease in downtown Peoria.
      601 NE Jefferson Ave, Peoria, IL
      View Details
    • Contact for pricing
      2,415 SF

      Office/Warehouse Suite in Prairie Pointe

      Functional office/warehouse suite in a growing commercial corridor.
      8923 N Prairie Pointe Rd, Peoria, IL 61615
      View Details
    • $995/Mo
      700 SF

      Salon/Barber Shop For Lease

      700 SF salon/barber shop with equipment included for lease.
      2524 W Farrelly Ave, Peoria, IL
      View Details
    • $8 SF/Yr
      260 SF

      Fitness Center and Office Space

      Fitness center and office space available for lease in Peoria.
      7620 N University, Peoria, IL
      View Details
    • $14 SF/Yr
      3,500 SF

      Modern Office Building For Rent

      3,500 SF modern office building in prime Peoria location.
      7207-7221 N Allen Rd, Peoria, IL
      View Details
    • Contact for pricing
      20,112 SF

      Mixed-Use Property in Warehouse District

      20,112 SF mixed-use property near downtown Peoria entertainment.
      906 SW Adams St, Peoria, IL 61602
      View Details
    • $7 SF/Yr
      9,700 SF

      Peoria Flex Space with Offices

      Flex space featuring offices, conference room, and loading dock.
      7206 N Terra Vista Drive, Peoria, IL
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail and office spaces available in high-traffic location.
    Where is this shopping center located?
    The property is located at 7501 N University St Peoria, IL.
    What is the lease rate?
    The lease rate is $2,500 /Mo.
    What are key features of this property?
    This property features: High traffic location on University Street (16,400 CPD); Abundant parking with over 172 spaces; Multiple spaces available for lease, ranging from 120 SF to 3,904 SF
    (309) 693-3000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Jason Miller
    Jason Miller
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    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
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Thank You for Inquiry
    7501 N University St, Peoria, IL
    letter with green check mark
    Check your email
    We sent you the
    agent's contact details. yellow underline
    Can't find it?
    Please check your junk/spam folder.
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!