Single Tenant Industrial
For Sale
Contact for pricing
Pending
1610 W Altorfer Dr, Peoria, IL 61615
Industrial property for sale with single tenant.
Property Size38,616 SF
Days on Market161
Property Features for 1610 W Altorfer Dr
General Information
Standard status
Pending
Size
38,616 SF
Property subtype
Industrial
Zoning
I1
Occupancy
100%
Lease Type
NN
Investment Type
Stabilized
Net Operating Income
$211,033
Building Details
Buildings
1
Stories
1
Units
1
Tenancy
Single
Listing Agency:
Maloof Commercial Real Estate
(309) 693-3000
Listed By:
Daniel Maloof · License #IL 475122647
Source:
Crexi
Added: Mar 13
Changed: Aug 12
Last Checked: Aug 19 at 1:07PM
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 Real Estate
Investment Insights
Based on property information with market context.
This is an industrial property available for sale. The property encompasses a total area of 38616 square feet. It is currently occupied by a single tenant, presenting an investment opportunity.
Key Highlights
- Single tenant occupancy
- Industrial investment opportunity
- Property details available upon request
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
$232,333
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
8.81%
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%
$4,646,660
$4.6M
Cap Rate 7%
$3,319,043
$3.3M
Cap Rate 9%
$2,581,478
$2.6M
Market Conditions
NOI Build-Up for 38,616 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
$347.5K $9.00/SF
− Vacancy
−$15.6K −$0.41/SF
EGI
$331.9K $8.59/SF
− OpEx
−$99.6K −$2.58/SF
NOI
$232.3K $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%
$4,646,660
Cap Rate 7%
$3,319,043
Cap Rate 9%
$2,581,478
Alternative Uses
Best Use
Industrial
$3.32M
$2.90M – $3.87M
NOI $232,333 @ 7.0% cap · market cap 8.81%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$33.78M
$29.56M – $39.41M
NOI $2,364,663 @ 7.0% cap · market cap 89.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,132
Businesses Nearby
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?
Industrial property - Industrial property for sale with single tenant.
Where is this industrial property located?
The property is located at 1610 W Altorfer Dr Peoria, IL.
What is the asking price?
The asking price for this property is $2,637,914.
What are key features of this property?
This property features: Single tenant occupancy; Industrial investment opportunity; Property details available upon request
