Add Listing
    For Lease
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings

    210-240 S Main St East Peoria, IL

    View on Map
    Claim this Listing
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail end-cap spaces available for lease in East Peoria.

    Type:RETAIL
    Property size:
    15,660 SF
    Lot size:
    3.03 Acres
    Added:
    May 14, 2024
    Days on Market:
    717
    Last Refresh:
    Apr 5 at 9:10 pm

    Property Features for 210-240 S Main St

    General Information

    Standard status
    Active
    Size
    15,660 SF
    Lot size
    3.03 Acres
    Property subtype
    RETAIL

    Spaces For Lease

    at 210-240 S Main St Contact us

    We can help!

    Listing Contact
    Michael Petrik

    Listing agent Michael Petrik

    Listing office Lee & Associates | Chicago

    Listing date May 14, 2024

    Source Moodyscre

    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 Lee & Associates | Chicago

    Overview

    East Peoria Retail End-Cap Spaces

    This 46,257 square foot strip center offers retail spaces for lease. An end-cap space of 4,638 square feet is available immediately, and another end-cap space of 15,660 square feet will be available starting January 1, 2025. The property features 181 parking spaces. The parking lot is planned to be repaved and striped in spring or early summer of 2024. Current co-tenants include Advance AutoParts, Dollar Tree, Firehouse Pizza & Pub, Goodwill, RAC Rent-a-Center, and Wrought Iron Gym. Potential outdoor expansion is available.
    Location Intelligence

    Current Use by Public Records

    Strip malls

    Suggested Use

    Restaurant Real Estate Agency Spa & Massage Center Building Supply Dental Office Big Box & Wholesale Store Hair Salon Auto Repair Shop Law Firm Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    East Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.5987
    Latitude
    40.6892

    Nearby Similar for Lease

    • $18 SF/Yr

      East Peoria Retail Space Available

      Retail property available for lease in East Peoria, Illinois.
      260 S Main St, East Peoria, IL 61611
      View Details
    • $5 SF/Yr

      Spacious Sports Complex Ready For Rent

      28,800 SF clear span space, ideal for sports complex.
      4200 E Washington St, East Peoria, IL
      View Details
    • $16 SF/Yr

      Retail Space Near Levee District

      Retail spaces available for lease in East Peoria near shopping.
      101-103 River Rd, East Peoria, IL
      View Details
    • Contact for pricing

      Retail/Office Space For Lease

      1,160 SF retail/office space available for lease.
      100 W Spring Creek Rd, East Peoria, IL
      View Details
    • $12 SF/Yr

      Retail Space in Fondulac Plaza

      Retail spaces for lease with high visibility and accessibility.
      2402 E Washington St, East Peoria, IL
      View Details
    • Contact for pricing

      East Peoria Restaurant/Bar Space

      Restaurant/bar space with commercial kitchen and gaming available for lease.
      2402 E Washington St, East Peoria, IL 61611
      View Details
    • $15 SF/Yr

      East Peoria Retail Space Available

      Prime retail space in East Peoria's Levee District.
      214-242 W Camp St, East Peoria, IL
      View Details
    • $12 SF/Yr

      Retail Space in Fondulac Plaza

      Retail spaces for lease in busy East Peoria shopping center.
      2418-2516 E Washington St, East Peoria, IL
      View Details
    • Contact for pricing

      East Peoria Industrial Space Available

      Industrial space with loading docks, forklift access, and high ceilings.
      125 Thunderbird Lane, East Peoria, IL 61611
      View Details
    • Contact for pricing

      East Peoria Retail Space Available

      Prime retail space in East Peoria's Levee District.
      222 W Camp St, East Peoria, IL 61611
      View Details
    • $25 SF/Yr

      East Peoria Retail Space Available

      Retail space available for lease in East Peoria, Illinois.
      220 W Washington St, East Peoria, IL
      View Details
    • Contact for pricing

      East Peoria Warehouse Space Available

      Warehouse space for lease in East Peoria's Levy District.
      215 Taylor St, East Peoria, IL 61611
      View Details

    FAQs

    What type of property is this?
    Strip mall - Retail end-cap spaces available for lease in East Peoria.
    Where is this strip mall located?
    The property is located at 210-240 S Main St East Peoria, IL.
    What is the lease rate?
    The lease rate is $12 SF/Yr.
    What are key features of this property?
    This property features: High‑traffic location with excellent co‑tenancy including Advance Auto Parts, Dollar Tree, Firehouse Pizza & Pub, and more.; **Two end‑cap spaces available:** 4,638 SF available immediately and a larger 15,660 SF space available 01/01/25.; Ample parking with 181 spaces and planned repaving/striping in Spring/Early Summer 2024.
    (630) 486-4187 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing
    Michael Petrik
    Learn More
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!