Sign Up Successful!
You now have access to more from Realmo!
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    300-322 E War Memorial Dr Peoria, IL 61614

    Loading data...
    Loading data...
    Loading data...
    For Lease
    $12 SF/Yr ($2,239 /Mo)

    Office space for lease with high traffic and visibility.

    Property size:
    2,150 SF
    Lot size:
    0.90 Acres

    Property Features for 300-322 E War Memorial Dr

    General Information

    Size
    2,150 SF
    Lot size
    0.90 Acres

    We can help!

    Listing Contact
    Will Hayes
    Source: Moodyscre

    Listing Agent: Will Hayes

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

    Learn more

    Overview

    War Memorial Drive Office Space

    Office space is available for lease on War Memorial Drive. The main level space offered is 2,150 square feet and can be divided to offer spaces from 1,500 square feet down to 700 square feet. The available space is located directly off the front entrance to the building. The property is located directly across the street from Peoria Stadium. A pylon sign out front on War Memorial offers visibility from the main road. Traffic counts are 27,600 CPD.
    Location Intelligence

    Current Use by Public Records

    Office space

    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
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.5891761
    Latitude
    40.731231

    Nearby Similar for Lease

    • Contact for pricing
      43,560 SF

      Peoria Office Space For Rent

      2,525 SF office space with excellent accessibility and visibility.
      1820 N Sterling Ave, Peoria, IL 61604
      View Details
    • Contact for pricing
      12,503 SF

      Prime Retail Space in Peoria

      Retail landmark with high visibility and strong market presence.
      2601 W Lake Ave, Peoria, IL 61615
      View Details
    • $6 SF/Yr
      3,300 SF

      Warehouse District Flex Building

      3,300 SF flex building in Peoria's Warehouse District.
      718 SW Adams St, Peoria, IL 61602
      View Details
    • $12 SF/Yr
      2,565 SF

      Renovated Loft Office Space Available

      Office suites available in renovated loft building on Water Street.
      311 SW Water St, Peoria, IL 61602
      View Details
    • $6 SF/Yr
      5,500 SF

      Warehouse/Flex Space in Warehouse District

      Warehouse/flex building for lease in the Warehouse District.
      720 SW Adams St, Peoria, IL 61603
      View Details
    • $12 SF/Yr
      34,142 SF

      Retail Space in Willow Knolls

      Retail and restaurant spaces available in Peoria shopping center.
      4100 W Willow Knl Rd, Peoria, IL
      View Details
    • $4 SF/Yr
      136,524 SF

      Warehouse Space in North Peoria

      136,524 SF warehouse space available for lease.
      8201 N University St, Peoria, IL 61615
      View Details
    • $11 SF/Yr
      3,791 SF

      Retail Spaces in High-Traffic Area

      Retail spaces available in a high-traffic Peoria location.
      4722-4810 N Sheridan Rd, Peoria, IL 61614
      View Details
    • $4 SF/Yr
      5,711 SF

      Peoria Office Space for Lease

      Flexible workspace solutions in Peoria, IL.
      416 Main St, Peoria, IL 61602
      View Details
    • $4 SF/Yr
      11,880 SF

      Warehouse Space in Warehouse District

      11,880 SF warehouse space for lease. Loft style with exposed brick.
      836 SW Washington St, Peoria, IL 61611
      View Details
    • $13 SF/Yr
      13,750 SF

      Prime Peoria Downtown Space

      Retail, Office, Restaurant - 2,500-13,750 SF
      128 Monroe St, Peoria, IL 61602
      View Details
    • $16 SF/Yr
      2,895 SF

      Class A Office Space Peoria

      Fully furnished, renovated office space available for lease.
      1300 W Commerce Dr, Peoria, IL 61615
      View Details

    FAQs

    What type of property is this?
    Office space - Office space for lease with high traffic and visibility.
    Where is this office space located?
    The property is located at 300-322 E War Memorial Dr Peoria, IL.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: - High visibility with pylon sign on War Memorial Dr. and 27,600 CPD traffic count.; - Flexible space options: 2,150 SF, divisible to 1,500 SF or 700 SF.; - Lease incentives: 3 months free (3-year lease) or 5 months free (5-year lease) if signed by September 1, 2023.
    (309) 643-0717
    Request Owner's contact information
    300-322 E War Memorial Dr Peoria, IL 61614
    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.
    300-322 E War Memorial Dr
    Peoria, IL 61614
    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
    300-322 E War Memorial Dr Peoria, IL 61614
    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

    We can help!
    Listing Contact
    Will Hayes
    (309) 643-0717
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Create New Password
    • At least 8 characters
    • Contains both letters and numbers
    • Contains uppercase and lowercase letters
    • At most 32 characters
    • Password required
    • Password reset link has expired. Please request a new one.