Sterling Avenue Commercial Building For
3028 N Sterling Ave Peoria, IL 61604
3028 N Sterling Ave, Peoria, IL, 61604
Contact for pricing
For Sale
Contact for pricing
Commercial building with high visibility, three service bays, and C-1 zoning.
Property Size1,714 SF
Price / SF$130.69
Days on Market60
Property Features for 3028 N Sterling Ave
General Information
- Standard status
- Active
- Size
- 1,714 SF
- Property subtype
- RETAIL
Listing Agency
Joseph & Camper Commercial
(309) 643-0717
Listed by
Will Hayes · License #475122056
(309) 643-0717
Source
Moodyscre
Added: May 19 Checked: Jul 17 at 2:54 am
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 Joseph & Camper Commercial
Investment Insights
Based on property information with market context.
The property is a 1,714 square foot commercial building zoned C-1 (Neighborhood Commercial). It benefits from a high-visibility location on Sterling Avenue, which sees 15,100 cars per day. The building includes three service bays, three car lifts, and an air compressor. A new roof is scheduled for installation in 2025. The property also features a small front office area and a paved parking lot. It is an ideal owner-user building that could be converted to a tire shop, detail shop, small engine repair, HVAC, plumbing, or retail/service conversion. The property is located in a strong surrounding commercial corridor.
Key Highlights
- High‑visibility location on Sterling Ave with 15,100 cars per day
- Zoned C‑1 (Neighborhood Commercial) allowing for various business types
- Ideal owner‑user building with conversion potential (tire shop, detail shop, etc.)
Local Financial Insights For 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 | $30.9k | $18.00 |
| − Vacancy | −$1.5k | −$0.90 |
| EGI | $29.3k | $17.10 |
| − OpEx | −$8.8k | −$5.13 |
| NOI | $20.5k | $11.97 |
1,714 SF · lease $18.00/SF/yr · vacancy 5.00% · expense 30.00%
Alternative Uses
Best Use
Retail
$293.1K
$256.5K – $342.0K
NOI $20,517 @ 7.0% cap · market cap 9.16%
Second Best
Industrial
$147.3K
$128.9K – $171.9K
NOI $10,312 @ 7.0% cap · market cap 4.60%
Theoretical Best
Multifamily LT 5
$1.50M
$1.31M – $1.75M
NOI $104,957 @ 7.0% cap · market cap 46.86%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Intoxalock Ignition Interlock
Building Supply
U-Haul Neighborhood Dealer
Car Rental Facility
LifeSafer Ignition Interlock
Building Supply
Trac Automotive
Auto Repair Shop
All Tune & Lube
Auto Repair Shop
Similar For Sale Nearby
Similar Off Market Nearby
- Koenig Body & Equipment Inc — 2428 W Farmington Rd, West Peoria, IL 61604
- Reliable Automotive Inc — 831 N Western Ave, Peoria, IL 61604
- Big Ray's Western — 705 N Western Ave, Peoria, IL 61604
- Dowell & Daughters Towing — 3312 W Farmington Rd, Peoria, IL 61604
- K-B TOWING — 3201 W Farmington Rd, Peoria, IL 61604
FAQs
What type of property is this?
Auto shop - Commercial building with high visibility, three service bays, and C-1 zoning.
Where is this auto shop located?
The property is located at 3028 N Sterling Ave Peoria, IL.
What is the asking price?
The asking price for this property is $224,000.
What are key features of this property?
This property features: High‑visibility location on Sterling Ave with 15,100 cars per day; Zoned C‑1 (Neighborhood Commercial) allowing for various business types; Ideal owner‑user building with conversion potential (tire shop, detail shop, etc.)
