Freestanding Bank Building with
For Sale
Contact for pricing
4100 W Willow Knolls Dr, Peoria, IL 61615
Freestanding 2,980 SF former bank building with large lobby, offices, and three drive-thru lanes on a hard corner.
Property Size2,980 SF
Price / SF$201.01
Days on Market1463
Property Features for 4100 W Willow Knolls Dr
General Information
Standard status
Active
Size
2,980 SF
Property subtype
OFFICE
Site & Location
Highway Access
Yes
Road Access
Yes
Additional Details
Heavy Power
Yes
Amenities
conference room
kitchenette/break room
security system
Listing Agency:
Joseph & Camper Commercial
(309) 256-1020
Listed By:
Tom Camper
(309) 256-1020
Source:
Moodyscre
Added: Aug 8, 2022
Changed: Jul 28
Last Checked: Jul 28 at 3:37AM
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 Joseph & Camper Commercial
Investment Insights
Based on property information with market context.
A 2,980 SF freestanding commercial building built as a former bank branch, featuring a large open lobby with three teller stations, a vault, and two viewing rooms. The interior also includes three private offices, a conference room, ADA accessible men’s and women’s restrooms, and additional storage with a mop sink plus a kitchenette/break room. An unfinished partial basement of 1,040 SF is included for added storage and utility access. Electrical service includes 3-phase power, and the property has security systems and cameras set up throughout.
The building sits on a prime hard corner at the intersection of Willow Knolls and War Memorial Drive/US Route 150 in Peoria, IL. The site is positioned among a strong retail cluster and is anchored by Sam’s Club and Kohl’s, with nearby tenants including Willow Knolls Theatre and other freestanding retailers such as Applebee’s, Olive Garden, and Office Depot.
Site features include three drive-thru lanes and an overnight drop-off vault. The property is subject to a 3-year deed restriction for Bank and Financial Services from the date of sale.
The building sits on a prime hard corner at the intersection of Willow Knolls and War Memorial Drive/US Route 150 in Peoria, IL. The site is positioned among a strong retail cluster and is anchored by Sam’s Club and Kohl’s, with nearby tenants including Willow Knolls Theatre and other freestanding retailers such as Applebee’s, Olive Garden, and Office Depot.
Site features include three drive-thru lanes and an overnight drop-off vault. The property is subject to a 3-year deed restriction for Bank and Financial Services from the date of sale.
Key Highlights
- 2,980 SF freestanding commercial building on a hard corner in Peoria, IL
- Corner location on Willow Knolls and War Memorial Drive/US Route 150
- Former bank layout with large open lobby, 3 teller stations, vault, and two viewing rooms
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
$38,219
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
6.38%
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%
$764,380
$764.4K
Cap Rate 7%
$545,986
$546.0K
Cap Rate 9%
$424,656
$424.7K
Market Conditions
NOI Build-Up for 2,980 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
$53.6K $18.00/SF
− Vacancy
−$2.7K −$0.90/SF
EGI
$51.0K $17.10/SF
− OpEx
−$12.7K −$4.27/SF
NOI
$38.2K $12.83/SF
Area
Peoria, IL
Vacancy
5.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
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%
$764,380
Cap Rate 7%
$545,986
Cap Rate 9%
$424,656
Alternative Uses
Best Use
Specialty Retail
$546.0K
$477.7K – $637.0K
NOI $38,219 @ 7.0% cap · market cap 6.38%
Second Best
Retail
$509.6K
$445.9K – $594.5K
NOI $35,671 @ 7.0% cap · market cap 5.96%
Theoretical Best
Multifamily LT 5
$2.61M
$2.28M – $3.04M
NOI $182,481 @ 7.0% cap · market cap 30.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Heavy power
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
396
Businesses Nearby
340k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 29%
Superstores 28%
Shops & Services 20%
Apparel 16%
Sam's Club
Superstores
94,647 visits/mo
0.0 miles
Kohl's
Apparel
53,392 visits/mo
0.1 miles
Olive Garden
Dining
33,321 visits/mo
0.3 miles
Dollar Tree
Shops & Services
27,657 visits/mo
0.2 miles
McDonald's
Dining
26,307 visits/mo
0.3 miles
Demographics for 61615, IL
24,314
Population
11,334
Households
2.1
Avg Household Size
38
Median Age
53%
College-Educated
98%
High-School Grad
29.6 sq mi
ZIP Area
821
Density / Sq Mi
$82,157
Median Household Income
$50,165
Median Earnings
$1,079
Median Rent
$206,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Bank - Freestanding 2,980 SF former bank building with large lobby, offices, and three drive-thru lanes on a hard corner.
Where is this bank located?
The property is located at 4100 W Willow Knolls Dr Peoria, IL.
What is the asking price?
The asking price for this property is $599,000.
What are key features of this property?
This property features: 2,980 SF freestanding commercial building on a hard corner in Peoria, IL; Corner location on Willow Knolls and War Memorial Drive/US Route 150; Former bank layout with large open lobby, 3 teller stations, vault, and two viewing rooms
