Two-Building Office
For Sale
$399,000
4611 W Middle Rd, Peoria, IL 61605
Office campus with private suites, service-oriented garage space, and separate auxiliary building near airport and interstate access.
Property Size3,800 SF
Price / SF$105
Days on Market497
Property Features for 4611 W Middle Rd
General Information
Standard status
Active
Size
3,800 SF
Property subtype
Commercial
Site & Location
Highway Access
Yes
Road Access
Yes
Building Details
Buildings
2
Listing Agency:
Move Smart Realty
(309) 472-4627
Listed By:
Lisa Inman () · License #471022023
Source:
Searchillinoishomesforsale
Added: Apr 20, 2025
Changed: Aug 29
Last Checked: Aug 29 at 10:49AM
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 Move Smart Realty
Investment Insights
Based on property information with market context.
This 3,800-square-foot office property includes two separate buildings on nearly an acre. The primary improvement is a two-story office structure with multiple private offices, reception areas, restrooms, and an attached garage/workshop. A detached building adds a three-stall garage along with additional interior space that can support office or rental use.
Located along a heavily traveled county road, the property is minutes from the airport and interstate. Existing billboard leases provide an established ancillary income component and additional roadside advertising presence. The combination of office accommodations, garage capacity, and separate building space supports owner occupancy or multi-tenant commercial use.
Located along a heavily traveled county road, the property is minutes from the airport and interstate. Existing billboard leases provide an established ancillary income component and additional roadside advertising presence. The combination of office accommodations, garage capacity, and separate building space supports owner occupancy or multi-tenant commercial use.
Key Highlights
- 3,800‑square‑foot office property on nearly an acre
- Two separate commercial buildings on the site
- Two‑story main office building with private offices, reception areas, and restrooms
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
$34,086
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
8.54%
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%
$681,720
$681.7K
Cap Rate 7%
$486,943
$486.9K
Cap Rate 9%
$378,733
$378.7K
Market Conditions
NOI Build-Up for 3,800 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
$57.0K $15.00/SF
− Vacancy
−$4.6K −$1.20/SF
EGI
$52.4K $13.80/SF
− OpEx
−$18.4K −$4.83/SF
NOI
$34.1K $8.97/SF
Area
Peoria, IL
Vacancy
8.00%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
35.00%
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%
$681,720
Cap Rate 7%
$486,943
Cap Rate 9%
$378,733
Alternative Uses
Best Use
Office B
$701.1K
$613.5K – $818.0K
NOI $49,077 @ 7.0% cap · market cap 12.30%
Second Best
Flex RnD
$486.9K
$426.1K – $568.1K
NOI $34,086 @ 7.0% cap · market cap 8.54%
Theoretical Best
Multifamily LT 5
$3.32M
$2.91M – $3.88M
NOI $232,694 @ 7.0% cap · market cap 58.32%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
23
Businesses Nearby
Explore this area
Business Placement
Demographics for 61605, IL
14,049
Population
7,114
Households
2
Avg Household Size
34
Median Age
5%
College-Educated
80%
High-School Grad
4.4 sq mi
ZIP Area
3,193
Density / Sq Mi
$24,499
Median Household Income
$25,176
Median Earnings
$831
Median Rent
$44,200
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Office building - Office campus with private suites, service-oriented garage space, and separate auxiliary building near airport and interstate access.
Where is this office building located?
The property is located at 4611 W Middle Rd Peoria, IL.
What is the asking price?
The asking price for this property is $399,000.
What are key features of this property?
This property features: 3,800‑square‑foot office property on nearly an acre; Two separate commercial buildings on the site; Two‑story main office building with private offices, reception areas, and restrooms
