Convenience Store with Parking
1911 Lincoln Avenue Peoria, IL 61605
1911 Lincoln Avenue, Peoria, IL, 61605
$275,000
For Sale
$275,000
Investment convenience store on a hard corner with a large parking lot and a new 5-year lease in place.
Property Size1,550 SF
Lot Size0.63 Acres
Price / SF$177.42
Days on Market342
Property Features for 1911 Lincoln Avenue
General Information
- Standard status
- Active
- Size
- 1,550 SF
- Lot size
- 0.63 Acres
- Property subtype
- Commercial
Listing agency
RE/MAX Traders Unlimited
(309) 323-0399
Listed by
Justin Ball
(309) 323-0399
Source
Shawneehillsrealestate
Added: Aug 15, 2025 Updated: Jul 22 at 9:06AM Checked: Jul 22 at 9:06AM
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 RE/MAX Traders Unlimited
Investment Insights
Based on property information with market context.
This investment property includes a 1,550 SF convenience store and a large parking lot, totaling 0.63 acres, on a hard corner at the intersection of Western Ave. and Lincoln Ave. (State Route 116). The sale includes two parcels: 1911 Lincoln and 1913 Lincoln (1807483033).
The current tenant has a new 5-year lease at $2,750 per month, with the tenant paying all utilities. There is also a 5-year option that includes a dramatic lease rate increase. Average annual daily traffic (AADT) is reported at 11,450. The property is located in the Peoria Urban Enterprise Zone Amendment 9 (PUEZ 9), which features incentives for developers.
The current tenant has a new 5-year lease at $2,750 per month, with the tenant paying all utilities. There is also a 5-year option that includes a dramatic lease rate increase. Average annual daily traffic (AADT) is reported at 11,450. The property is located in the Peoria Urban Enterprise Zone Amendment 9 (PUEZ 9), which features incentives for developers.
Key Highlights
- 1,550 SF convenience store with a large parking lot on a hard corner at Western Ave. & Lincoln Ave. (State Route 116)
- 0.63 acres total and sale includes two parcels: 1911 Lincoln & 1913 Lincoln
- New 5‑year tenant lease at $2,750/mo; tenant pays all utilities
Local Financial Insights For Specialty 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 | $27.9k | $18.00 |
| − Vacancy | −$1.4k | −$0.90 |
| EGI | $26.5k | $17.10 |
| − OpEx | −$6.6k | −$4.27 |
| NOI | $19.9k | $12.83 |
1,550 SF · lease $18.00/SF/yr · vacancy 5.00% · expense 25.00%
Alternative Uses
Best Use
Specialty Retail
$284.0K
$248.5K – $331.3K
NOI $19,879 @ 7.0% cap · market cap 7.23%
Second Best
Retail
$265.1K
$231.9K – $309.2K
NOI $18,554 @ 7.0% cap · market cap 6.75%
Theoretical Best
Multifamily LT 5
$1.36M
$1.19M – $1.58M
NOI $94,915 @ 7.0% cap · market cap 34.51%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Grocery and convenience stores
Similar For Sale Nearby
Similar Off Market Nearby
- Johnson Mini Mart — 907 W Johnson St, Peoria, IL 61605
FAQs
What type of property is this?
Grocery and convenience store - Investment convenience store on a hard corner with a large parking lot and a new 5-year lease in place.
Where is this grocery and convenience store located?
The property is located at 1911 Lincoln Avenue Peoria, IL.
What is the asking price?
The asking price for this property is $275,000.
What are key features of this property?
This property features: 1,550 SF convenience store with a large parking lot on a hard corner at Western Ave. & Lincoln Ave. (State Route 116); 0.63 acres total and sale includes two parcels: 1911 Lincoln & 1913 Lincoln; New 5‑year tenant lease at $2,750/mo; tenant pays all utilities
