Updated Retail
New
For Sale
$399,000
1428 4th Street, Peru, IL 61354
Versatile commercial space with multiple entrances, on-site parking, and a layout adaptable to retail or service uses.
Property Size1,108 SF
Price / SF$360.11
Days on Market3
Property Features for 1428 4th Street
General Information
Standard status
Active
Size
1,108 SF
Property subtype
Commercial
Zoning
COMMR
Site & Location
Corner Location
Yes
Highway Access
Yes
Road Access
Yes
Taxes and HOA fees
Annual Taxes
$2,614
Amenities
storage shed
Building Details
Building Size
1,108 SF
Year Built
1932
Year Renovated
2026
Stories
1
Units
1
Listing Agency:
Coldwell Banker Today's
(815) 223-1088
Listed By:
Wendy Fulmer · License #475139342
(815) 223-1088
Source:
Midwestrealestate
Added: Aug 8
Changed: Aug 9
Last Checked: Aug 9 at 5:16AM
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 Coldwell Banker Today's
Investment Insights
Based on property information with market context.
This retail property provides approximately 1,108 square feet of commercial space with a flexible interior configuration. The building was constructed in 1932 and updated in 2026. Its layout can accommodate retail or service-oriented operations and includes the potential for a drive-through arrangement. A 12-by-14-foot storage shed adds supplemental space for equipment or inventory.
Access is available from both West Street and 4th Street, with on-site parking for more than 20 vehicles. The property is located at 1428 4th Street in Peru, near a hospital and other businesses. Zoning is identified as COMMR.
Access is available from both West Street and 4th Street, with on-site parking for more than 20 vehicles. The property is located at 1428 4th Street in Peru, near a hospital and other businesses. Zoning is identified as COMMR.
Key Highlights
- Approximately 1,108 square feet of retail space
- Interior updated in 2026; original construction dates to 1932
- Access from both West Street and 4th Street
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
$14,779
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
3.70%
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%
$295,580
$295.6K
Cap Rate 7%
$211,129
$211.1K
Cap Rate 9%
$164,211
$164.2K
Market Conditions
NOI Build-Up for 1,108 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
$21.0K $18.96/SF
− Vacancy
−$1.3K −$1.18/SF
EGI
$19.7K $17.78/SF
− OpEx
−$4.9K −$4.45/SF
NOI
$14.8K $13.34/SF
Area
LaSalle, IL
La Salle County, LA
Vacancy
6.20%
Lease Rate
$18.96 /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%
$295,580
Cap Rate 7%
$211,129
Cap Rate 9%
$164,211
Alternative Uses
Best Use
Specialty Retail
$211.1K
$184.7K – $246.3K
NOI $14,779 @ 7.0% cap · market cap 3.70%
Second Best
Retail
$143.6K
$125.7K – $167.5K
NOI $10,052 @ 7.0% cap · market cap 2.52%
Theoretical Best
Office A
$277.3K
$242.7K – $323.5K
NOI $19,412 @ 7.0% cap · market cap 4.87%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
331
Businesses Nearby
Explore this area
Business Placement
Demographics for 61354, IL
10,447
Population
5,111
Households
2
Avg Household Size
46
Median Age
21%
College-Educated
95%
High-School Grad
42.6 sq mi
ZIP Area
245
Density / Sq Mi
$69,382
Median Household Income
$45,114
Median Earnings
$877
Median Rent
$160,100
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?
Retail space - Versatile commercial space with multiple entrances, on-site parking, and a layout adaptable to retail or service uses.
Where is this retail space located?
The property is located at 1428 4th Street Peru, 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: Approximately 1,108 square feet of retail space; Interior updated in 2026; original construction dates to 1932; Access from both West Street and 4th Street
