Retail Building with Versatile
For Sale
$449,000
1318 E Washington Street, East Peoria, IL 61611
2,640-square-foot retail building built in 1978 and zoned B3 Business Service District.
Property Size2,640 SF
Price / SF$170.08
Days on Market157
Property Features for 1318 E Washington Street
General Information
Standard status
Active
Size
2,640 SF
Property subtype
Retail
Zoning
B3
Building Details
Building Size
2,640 SF
Year Built
1978
Listing Agency:
Maloof Commercial
Listed By:
Zac Maloof · License #IL #475.139281
(309) 370-5959
Source:
Maloofcom
Added: May 27
Changed: Oct 26
Last Checked: Oct 28 at 7:11AM
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
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Investment Insights
Based on property information with market context.
This property features a 2,640-square-foot retail building built in 1978. It is zoned B3 Business Service District, supporting a range of business uses consistent with that zoning classification.
The offering is located in East Peoria and is presented as a versatile option for retail or a free-standing building venture. The property’s significant visibility and exposure are noted in the public remarks.
With a dedicated building footprint and B3 zoning, the site is positioned for tenants or owners seeking a straightforward commercial structure suitable for retail-oriented operations within the limits of the existing zoning.
The offering is located in East Peoria and is presented as a versatile option for retail or a free-standing building venture. The property’s significant visibility and exposure are noted in the public remarks.
With a dedicated building footprint and B3 zoning, the site is positioned for tenants or owners seeking a straightforward commercial structure suitable for retail-oriented operations within the limits of the existing zoning.
Key Highlights
- 2,640 sq ft retail building built in 1978
- Zoned B3 Business Service District
- Suitable for retail or free‑standing building ventures
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$24,948
Cap Rate
5.56%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$498,960
$499.0K
Cap Rate 7%
$356,400
$356.4K
Cap Rate 9%
$277,200
$277.2K
Market Conditions
NOI Build-Up for 2,640 SF
Gross rent
$39.6K $15.00/SF
− Vacancy
−$4.0K −$1.50/SF
EGI
$35.6K $13.50/SF
− OpEx
−$10.7K −$4.05/SF
NOI
$24.9K $9.45/SF
Area
Tazewell County, IL
Vacancy
10.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$498,960
Cap Rate 7%
$356,400
Cap Rate 9%
$277,200
Alternative Uses
Best Use
Retail
$356.4K
$311.9K – $415.8K
NOI $24,948 @ 7.0% cap · market cap 5.56%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.03M
$903.9K – $1.21M
NOI $72,315 @ 7.0% cap · market cap 16.11%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
207
Businesses Nearby
9k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 71%
Dining 29%
Sunoco
Shops & Services
3,407 visits/mo
0.4 miles
O'Reilly Auto Parts
Shops & Services
2,487 visits/mo
0.1 miles
SUBWAY
Dining
2,416 visits/mo
0.1 miles
Gerber Collision & Glass
Shops & Services
578 visits/mo
0.5 miles
Twistee Treat
Dining
282 visits/mo
0.1 miles
Demographics for 61611, IL
23,837
Population
11,207
Households
2.1
Avg Household Size
44
Median Age
26%
College-Educated
93%
High-School Grad
41.0 sq mi
ZIP Area
581
Density / Sq Mi
$76,329
Median Household Income
$44,586
Median Earnings
$942
Median Rent
$162,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Retail space - 2,640-square-foot retail building built in 1978 and zoned B3 Business Service District.
Where is this retail space located?
The property is located at 1318 E Washington Street East Peoria, IL.
What is the asking price?
The asking price for this property is $449,000.
What are key features of this property?
This property features: 2,640 sq ft retail building built in 1978; Zoned B3 Business Service District; Suitable for retail or free‑standing building ventures
