Flex Space with Loading
New
For Sale
$750,000
7718 N Harker Dr, Peoria, IL 61615
C2 zoning, dedicated loading, and on-site parking support a range of commercial operations.
Property Size11,008 SF
Price / SF$68.13
Days on Market2
Property Features for 7718 N Harker Dr
General Information
Standard status
Active
Size
11,008 SF
Property subtype
Industrial
Zoning
C2
Additional Details
Dock-High Doors
2
Amenities
Lobby/reception area
Small private office
Breakroom
Building Details
Building Size
11,008 SF
Listing Agency:
Maloof Commercial
Listed By:
Madison Maloof · License #IL #475.180439
(415) 942-4234
Source:
Maloofcom
Added: Sep 4
Last Checked: Sep 4 at 2:39PM
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 11,008 SF flex property combines a warehouse area with a lobby and reception zone, a private office, and a breakroom. Hanging heaters serve the warehouse, while the adaptable interior can accommodate varied operational layouts. A separate loading area includes two docks, and parking is provided for customers and employees.
The property is located at 7718 N Harker Dr in Peoria, IL, with access to major highways nearby. Its C2: Large Scale Commercial zoning and combination of office, breakroom, warehouse, parking, and loading components create a practical configuration for commercial occupancy.
The property is located at 7718 N Harker Dr in Peoria, IL, with access to major highways nearby. Its C2: Large Scale Commercial zoning and combination of office, breakroom, warehouse, parking, and loading components create a practical configuration for commercial occupancy.
Key Highlights
- 11,008 SF flex and industrial building
- C2: Large Scale Commercial zoning
- Separate loading area with 2 docks
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
$66,230
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
8.83%
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%
$1,324,600
$1.3M
Cap Rate 7%
$946,143
$946.1K
Cap Rate 9%
$735,889
$735.9K
Market Conditions
NOI Build-Up for 11,008 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
$99.1K $9.00/SF
− Vacancy
−$4.5K −$0.41/SF
EGI
$94.6K $8.59/SF
− OpEx
−$28.4K −$2.58/SF
NOI
$66.2K $6.02/SF
Area
Peoria, IL
Vacancy
4.50%
Lease Rate
$9.00 /SF/Yr
Expense Ratio
30.00%
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%
$1,324,600
Cap Rate 7%
$946,143
Cap Rate 9%
$735,889
Alternative Uses
Best Use
Flex RnD
$1.41M
$1.23M – $1.65M
NOI $98,742 @ 7.0% cap · market cap 13.17%
Second Best
Warehouse
$1.15M
$1.01M – $1.34M
NOI $80,422 @ 7.0% cap · market cap 10.72%
Theoretical Best
Multifamily LT 5
$9.63M
$8.43M – $11.23M
NOI $674,078 @ 7.0% cap · market cap 89.88%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
2
Dock-high doors
Location Intelligence
Trade Area within ½ mile
1,054
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
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 Industrial in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Flex space - C2 zoning, dedicated loading, and on-site parking support a range of commercial operations.
Where is this flex space located?
The property is located at 7718 N Harker Dr Peoria, IL.
What is the asking price?
The asking price for this property is $750,000.
What are key features of this property?
This property features: 11,008 SF flex and industrial building; C2: Large Scale Commercial zoning; Separate loading area with 2 docks
