Updated Flex Space with
For Sale
$5,900,000
200 Enterprise Dr, Pekin, IL 61554
Combined office, laboratory, and warehouse functionality with climate-controlled storage and loading capabilities.
Property Size29,160 SF
Price / SF$202.33
Days on Market41
Property Features for 200 Enterprise Dr
General Information
Standard status
Active
Size
29,160 SF
Additional Details
Highway Access
Yes
Conditioned Warehouse
Yes
Amenities
upgraded flooring
energy-efficient lighting
high-speed internet capabilities
security system
generator back-up
reverse osmosis
HEPA grade HVAC system
Listing Agency:
Gallery Homes Real Estate
(309) 453-4334
Listed By:
Mary Davis · License #475159029
Source:
Schaublerealty
Added: Jul 20
Changed: Aug 28
Last Checked: Aug 28 at 12:34PM
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 Gallery Homes Real Estate
Investment Insights
Based on property information with market context.
This 29160-square-foot flex property combines administrative, laboratory, and warehouse areas within one updated building. The office portion includes a refreshed lobby, private offices, open workspace, upgraded flooring, energy-efficient lighting, large windows, and high-speed internet capabilities. Laboratory improvements include individual lab areas, a large laboratory, reverse osmosis, HEPA-grade HVAC, and CLEA approval for medical and food-grade use.
The rear warehouse offers high ceilings, roll-up bay doors, reinforced concrete flooring, climate control, mezzanine storage, and designated shipping and receiving areas. Additional property features include ample parking, a security system, substantial electrical service, and generator backup. The building is located near Interstate 474 in Pekin, Illinois.
The rear warehouse offers high ceilings, roll-up bay doors, reinforced concrete flooring, climate control, mezzanine storage, and designated shipping and receiving areas. Additional property features include ample parking, a security system, substantial electrical service, and generator backup. The building is located near Interstate 474 in Pekin, Illinois.
Key Highlights
- 29160 SF updated flex space with office, laboratory, and warehouse areas
- Large laboratory plus individual lab spaces with CLEA approval for medical and food‑grade use
- Climate‑controlled warehouse with high ceilings and roll‑up bay doors
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
$537,674
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
9.11%
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%
$10,753,480
$10.8M
Cap Rate 7%
$7,681,057
$7.7M
Cap Rate 9%
$5,974,156
$6.0M
Market Conditions
NOI Build-Up for 29,160 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
$962.3K $33.00/SF
− Vacancy
−$245.4K −$8.42/SF
EGI
$716.9K $24.59/SF
− OpEx
−$179.2K −$6.15/SF
NOI
$537.7K $18.44/SF
Area
Tazewell County, IL
Vacancy
25.50%
Lease Rate
$33.00 /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%
$10,753,480
Cap Rate 7%
$7,681,057
Cap Rate 9%
$5,974,156
Alternative Uses
Best Use
Office B
$7.68M
$6.72M – $8.96M
NOI $537,674 @ 7.0% cap · market cap 9.11%
Second Best
Warehouse
$3.25M
$2.85M – $3.79M
NOI $227,669 @ 7.0% cap · market cap 3.86%
Theoretical Best
Office A
$11.41M
$9.98M – $13.31M
NOI $798,755 @ 7.0% cap · market cap 13.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
103
Businesses Nearby
Balanced
Demand for This Use
Explore this area
Business Placement
Demographics for 61554, IL
40,854
Population
18,788
Households
2.2
Avg Household Size
42
Median Age
20%
College-Educated
90%
High-School Grad
73.8 sq mi
ZIP Area
554
Density / Sq Mi
$62,484
Median Household Income
$41,718
Median Earnings
$814
Median Rent
$123,500
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?
Flex space - Combined office, laboratory, and warehouse functionality with climate-controlled storage and loading capabilities.
Where is this flex space located?
The property is located at 200 Enterprise Dr Pekin, IL.
What is the asking price?
The asking price for this property is $5,900,000.
What are key features of this property?
This property features: 29160 SF updated flex space with office, laboratory, and warehouse areas; Large laboratory plus individual lab spaces with CLEA approval for medical and food‑grade use; Climate‑controlled warehouse with high ceilings and roll‑up bay doors
