Retail Building with Versatile
1318 E Washington St East Peoria, IL 61611
1318 E Washington St, East Peoria, IL, 61611
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For Sale
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2,640-square-foot retail building built in 1978 and zoned B3 Business Service District.
Property Size2,640 SF
Price / SF$200
Days on Market61
Property Features for 1318 E Washington St
General Information
- Standard status
- Active
- Size
- 2,640 SF
- Property subtype
- RETAIL
Listing agency
Maloof Commercial
(309) 693-3000
Listed by
Zac Maloof · License #475164113
Source
Moodyscre
Added: May 22 Updated: Jul 21 at 1:38PM Checked: Jul 21 at 1:38PM
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
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
Local Financial Insights For Retail
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 | $34.2k | $12.96 |
| − Vacancy | −$2.7k | −$1.04 |
| EGI | $31.5k | $11.92 |
| − OpEx | −$9.4k | −$3.58 |
| NOI | $22.0k | $8.35 |
2,640 SF · lease $12.96/SF/yr · vacancy 8.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$314.8K
$275.4K – $367.2K
NOI $22,034 @ 7.0% cap · market cap 4.17%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.31M
$2.02M – $2.69M
NOI $161,661 @ 7.0% cap · market cap 30.62%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Retail space
Similar For Sale Nearby
FAQs
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 St East Peoria, IL.
What is the asking price?
The asking price for this property is $528,000.
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
