Corner Retail and Automotive
For Sale
$125,000
3037 N Prospect Road, Peoria, IL 61603
High-traffic corner lot with newer siding and updated office space for automotive or smaller retail uses.
Property Size1,144 SF
Price / SF$109.27
Days on Market61
Property Features for 3037 N Prospect Road
General Information
Standard status
Active
Size
1,144 SF
Property subtype
General Commercial
Listing Agency:
Keller Williams Premier Realty
(309) 472-8037
Listed By:
Zachary Oyler · License #475172173
Source:
Xome
Added: Jun 1
Changed: Jul 10
Last Checked: Jul 30 at 2:06PM
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.
This sale offering is a corner commercial building well suited for automotive-oriented operators or smaller retail. The property includes a dedicated office area, and recent improvements include new siding on the building along with updates to the office. The overall configuration supports day-to-day customer interaction and on-site administration for a service business or similar use.
The property is positioned on a high-traffic corner lot, which can support visibility and customer access for storefront-oriented operations. The listing describes the site as a strong match for a mechanic shop or car dealership, as well as smaller scale retail.
From a tenant or buyer fit perspective, the combination of an office and a straightforward automotive/retail use profile can reduce operational friction for businesses that need both customer-facing space and administrative support. The recent exterior siding and office updates are intended to provide a more current base for an operator looking to occupy without starting from scratch. Please note that the specific layout details beyond the office update and siding are not provided in the listing information.
The property is positioned on a high-traffic corner lot, which can support visibility and customer access for storefront-oriented operations. The listing describes the site as a strong match for a mechanic shop or car dealership, as well as smaller scale retail.
From a tenant or buyer fit perspective, the combination of an office and a straightforward automotive/retail use profile can reduce operational friction for businesses that need both customer-facing space and administrative support. The recent exterior siding and office updates are intended to provide a more current base for an operator looking to occupy without starting from scratch. Please note that the specific layout details beyond the office update and siding are not provided in the listing information.
Key Highlights
- High‑traffic corner lot suited for automotive or smaller retail uses
- New siding on the building
- Updated office space for business operations
Financial Insights For Industrial
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 | $10.3k | $9.00 |
| − Vacancy | −$463 | −$0.41 |
| EGI | $9.8k | $8.59 |
| − OpEx | −$2.9k | −$2.58 |
| NOI | $6.9k | $6.02 |
1,144 SF · lease $9.00/SF/yr · vacancy 4.50% · expense 30.00%
Alternative Uses
Best Use
Retail
$195.6K
$171.2K – $228.2K
NOI $13,694 @ 7.0% cap · market cap 10.96%
Second Best
Industrial
$98.3K
$86.0K – $114.7K
NOI $6,883 @ 7.0% cap · market cap 5.51%
Theoretical Best
Multifamily LT 5
$1.00M
$875.7K – $1.17M
NOI $70,053 @ 7.0% cap · market cap 56.04%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
420
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
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
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Similar Off Market Nearby
- Ernie's Fulton Top Co. — 3104 N Prospect Rd, Peoria, IL 61603
- Prospect Auto Mart — 3202 N Prospect Rd, Peoria, IL 61603
- ALCOLOCK Ignition Interlock — 3315 N Prospect Rd, Peoria, IL 61603
- Sunscape — 2000 E War Memorial Dr, Peoria, IL 61614
- Sungard Window Fashions - Peoria — 508 E War Memorial Dr, Peoria, IL 61614
Frequently Asked Questions
What type of property is this?
Auto shop - High-traffic corner lot with newer siding and updated office space for automotive or smaller retail uses.
Where is this auto shop located?
The property is located at 3037 N Prospect Road Peoria, IL.
What is the asking price?
The asking price for this property is $125,000.
What are key features of this property?
This property features: High‑traffic corner lot suited for automotive or smaller retail uses; New siding on the building; Updated office space for business operations
