For Sale
$1,300,000
2210 Ne Jefferson Avenue, Peoria, IL 61603
Retail properties & Spaces
Property Size4,712 SF
Price / SF$275.89
Days on Market151
Property Features for 2210 Ne Jefferson Avenue
General Information
Standard status
Active
Size
4,712 SF
Total Parking Spaces
46
Property subtype
Commercial
Taxes and HOA fees
Annual Taxes
$8,098
Listing Agency:
Keller Williams Premier Realty
(309) 339-2801
Listed By:
Bryson Smith (Listings@brysonsmithteam.com) · License #475129504
Source:
Curveyrealestate
Added: Mar 26
Changed: Aug 23
Last Checked: Aug 22 at 5:35AM
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 Keller Williams Premier Realty
Investment Insights
Based on property information with market context.
Key Highlights
- High traffic location with entrance/exit on both Rt 24 and Rt 29.
- Two separate buildings included: 3360 sq ft corner building and 1352 sq ft former restaurant building.
- Ample parking.
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
$60,431
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
4.65%
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%
$1,208,620
$1.2M
Cap Rate 7%
$863,300
$863.3K
Cap Rate 9%
$671,456
$671.5K
Market Conditions
NOI Build-Up for 4,712 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
$84.8K $18.00/SF
− Vacancy
−$4.2K −$0.90/SF
EGI
$80.6K $17.10/SF
− OpEx
−$20.1K −$4.27/SF
NOI
$60.4K $12.83/SF
Area
Peoria, IL
Vacancy
5.00%
Lease Rate
$18.00 /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%
$1,208,620
Cap Rate 7%
$863,300
Cap Rate 9%
$671,456
Alternative Uses
Best Use
Specialty Retail
$863.3K
$755.4K – $1.01M
NOI $60,431 @ 7.0% cap · market cap 4.65%
Second Best
Retail
$805.8K
$705.0K – $940.1K
NOI $56,403 @ 7.0% cap · market cap 4.34%
Theoretical Best
Multifamily LT 5
$4.12M
$3.61M – $4.81M
NOI $288,541 @ 7.0% cap · market cap 22.20%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
241
Businesses Nearby
10k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Circle K
Shops & Services
10,373 visits/mo
0.4 miles
Demographics for 61603, IL
15,503
Population
8,291
Households
1.9
Avg Household Size
33
Median Age
15%
College-Educated
87%
High-School Grad
4.2 sq mi
ZIP Area
3,691
Density / Sq Mi
$40,405
Median Household Income
$29,084
Median Earnings
$976
Median Rent
$73,100
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
Where is this retail property located?
The property is located at 2210 Ne Jefferson Avenue Peoria, IL.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: High traffic location with entrance/exit on both Rt 24 and Rt 29.; Two separate buildings included: **3360 sq ft corner building** and 1352 sq ft former restaurant building.; Ample parking.
