Eight-Building Industrial Commerce
125 Thunderbird Lane East Peoria, IL 61611
New
125 Thunderbird Lane, East Peoria, IL, 61611
$8,750,000
For Sale
$8,750,000
Small- to mid-bay industrial park with diversified tenants and 36 leased suites across eight buildings.
Property Size146,214 SF
Lot Size12.32 Acres
Price / SF$59.84
Days on Market3
Property Features for 125 Thunderbird Lane
General Information
- Standard status
- Active
- Size
- 146,214 SF
- Lot size
- 12.32 Acres
- Property subtype
- Office Warehouse
Building Details
- Year Built
- 1997
Listing Agency
Marcus & Millichap | Indianapolis
(317) 218-5366
Listed by
Julia Evinger · License #License(s): IN: RB14040143
(317) 218-5366
Source
Marcusmillichap
Added: Jul 17 Checked: Jul 19 at 1:45 am
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 Marcus & Millichap | Indianapolis
Investment Insights
Based on property information with market context.
Thunderbird Commerce Park is an eight-building small- to mid-bay industrial park totaling approximately 146,214 square feet on 12.32 acres. The property is leased to 30 tenants across 36 suites and is described as having historically high long-term occupancy, including nine tenants in place for 10-plus years. The park is 74 percent leased on a triple-net basis, with a diversified tenant mix spanning local, regional, and national users.
The park is located at 125 Thunderbird Lane in East Peoria, Illinois, with access described as convenient to I-74 and the US-150/US-24 interchange. The property is anchored by publicly traded and credit tenants including Ferguson, SiteOne Landscape Supply, NuMotion, and Water Solutions Unlimited.
The offering is presented as providing in-place cash flow with staggered lease expirations and a stated 2.35-year WALT. Additional potential income opportunities mentioned include converting remaining leases to triple-net terms, along with options related to a remaining undeveloped lot that could support a building or an IOS/laydown yard.
The park is located at 125 Thunderbird Lane in East Peoria, Illinois, with access described as convenient to I-74 and the US-150/US-24 interchange. The property is anchored by publicly traded and credit tenants including Ferguson, SiteOne Landscape Supply, NuMotion, and Water Solutions Unlimited.
The offering is presented as providing in-place cash flow with staggered lease expirations and a stated 2.35-year WALT. Additional potential income opportunities mentioned include converting remaining leases to triple-net terms, along with options related to a remaining undeveloped lot that could support a building or an IOS/laydown yard.
Key Highlights
- Thunderbird Commerce Park is an eight‑building small- to mid‑bay industrial park totaling ~146,214 SF on 12.32 acres, built in 1997.
- Historically high occupancy: 99% occupied with nine tenants in place for 10+ years (47% of RBA).
- Leased to 30 tenants across 36 suites with a diversified mix of local, regional, and national users.
Local Financial Insights For Industrial
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $1.14M | $7.80 |
| − Vacancy | −$74.1k | −$0.51 |
| EGI | $1.07M | $7.29 |
| − OpEx | −$319.9k | −$2.19 |
| NOI | $746.4k | $5.11 |
146,214 SF · lease $7.80/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Flex RnD
$18.74M
$16.39M – $21.86M
NOI $1,311,540 @ 7.0% cap · market cap 14.99%
Second Best
Warehouse
$14.45M
$12.64M – $16.86M
NOI $1,011,515 @ 7.0% cap · market cap 11.56%
Theoretical Best
Multifamily LT 5
$127.91M
$111.92M – $149.22M
NOI $8,953,462 @ 7.0% cap · market cap 102.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Flex space
Similar For Sale Nearby
FAQs
What type of property is this?
Flex space - Small- to mid-bay industrial park with diversified tenants and 36 leased suites across eight buildings.
Where is this flex space located?
The property is located at 125 Thunderbird Lane East Peoria, IL.
What is the asking price?
The asking price for this property is $8,750,000.
What are key features of this property?
This property features: Thunderbird Commerce Park is an eight‑building small- to mid‑bay industrial park totaling ~146,214 SF on 12.32 acres, built in 1997.; Historically high occupancy: 99% occupied with nine tenants in place for 10+ years (47% of RBA).; Leased to 30 tenants across 36 suites with a diversified mix of local, regional, and national users.
