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

    4700 N University St Peoria, IL 61614

    View on Map
    Loading data...
    Loading data...
    Loading data...
    For Lease
    Contact for pricing

    Retail spaces available in Peoria's Metro Centre shopping center.

    Property size:
    5,600 SF
    Lot size:
    2.77 Acres

    Property Features for 4700 N University St

    General Information

    Size
    5,600 SF
    Lot size
    2.77 Acres

    We can help!

    Listing Contact
    Will Hayes
    Will Hayes
    Source: Moodyscre

    Listing Agency: Joseph & Camper Commercial Listing Agent: Will Hayes

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    Peoria Retail Space For Lease

    Retail spaces are available for lease within Metro Centre, a shopping center established in 1971 in Peoria. The center aims to maintain a mix of national retailers alongside local and small businesses. Located centrally in Peoria, the property experiences traffic of 22,500 cars per day on University Street and 15,900 cars per day on Glen Avenue. Available spaces range from 1,100 square feet to 5,200 square feet, with the possibility of combining contiguous units to create up to 20,200 square feet. A former restaurant space of 5,600 square feet is available, which includes some remaining equipment.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Jimmy John's Take-out & Catering Nick-N-Willy's Pizza Peoria Restaurant Roger G Burke ... (Bike/Boat/Book/etc) Store Rocky Mountain Chocolate ... Specialty Food Shop Mega Replay Peoria Arcade & Gaming Center

    Suggested Use

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

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

    Similar Places Nearby

    Coinstar Kiosk Bitcoin Enabled, Sheridan Village, Evergreen Square, Coinstar Kiosk, Coinstar Kiosk | Bitcoin ATM

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.6087905
    Latitude
    40.7461251

    Nearby Similar for Lease

    • Contact for pricing
      30,492 SF

      Office Space in Peoria, IL

      Office space available for rent in Peoria, Illinois.
      2420 W Nebraska Ave, Peoria, IL 61604
      View Details
    • Sponsored
      Contact for pricing

      IL, Peoria - Main St

      Workspaces, services and support to help you work better in Frisco Square
      416 Main St, Peoria, IL 61602
      View Details
    • Contact for pricing
      43,560 SF

      Peoria Office Space For Rent

      2,525 SF office space with excellent accessibility and visibility.
      1820 N Sterling Ave, Peoria, IL 61604
      View Details
    • Contact for pricing
      1,488 SF

      Main Street Office Space Available

      Office suites available on Main Street near medical facilities.
      711-719 Main St, Peoria, IL 61611
      View Details
    • Contact for pricing
      4,586 SF

      Retail Spaces in High-Traffic Area

      Retail spaces available in a high-traffic Peoria location.
      4722-4810 N Sheridan Rd, Peoria, IL 61614
      View Details
    • Contact for pricing
      9,075 SF

      Flex Space Build-to-Suit Opportunity

      Flex building build-to-suit opportunity near Route 6.
      8985 N Prairie Pt, Peoria, IL 61615
      View Details
    • $14 SF/Yr
      3,900 SF

      Executive Office Suite For Rent

      Executive office suite featuring 12 private offices and 5 cubicles.
      8512 N Knoxville Ave, Peoria, IL 61615
      View Details
    • Contact for pricing
      22,736 SF

      Downtown Peoria Office Space Available

      22,736 SF office space for lease in downtown Peoria.
      601-605 NE Jefferson Ave, Peoria, IL 61605
      View Details
    • $15 SF/Yr
      2,895 SF

      Class A Office Space Peoria

      Fully furnished, renovated office space available for lease.
      1300 W Commerce Dr, Peoria, IL 61615
      View Details
    • Contact for pricing
      55,632 SF

      Warehouse District Redevelopment Opportunity

      Three buildings on approximately 1 acre in Peoria, Illinois.
      840-908 SW Washington St, Peoria, IL 61611
      View Details
    • Contact for pricing
      7,010 SF

      Retail Space in University Plaza

      Retail spaces for lease in Peoria's University Plaza.
      3455 N University St, Peoria, IL 61604
      View Details
    • Contact for pricing
      3,500 SF

      Modern Office Building For Rent

      3,500 SF modern office building in prime Peoria location.
      7207-7221 N Allen Rd, Peoria, IL 61614
      View Details

    FAQs

    What type of property is this?
    Shopping center - Retail spaces available in Peoria's Metro Centre shopping center.
    Where is this shopping center located?
    The property is located at 4700 N University St Peoria, IL.
    What are key features of this property?
    This property features: - High traffic location: 22,500 CPD on University and 15,900 CDP on Glen Ave.; - Flexible space options: Units range from 1,100 SF to 5,200 SF, combinable up to 20,200 SF.; - Established shopping center: Metro Centre is a longstanding Peoria destination since 1971.
    (309) 643-0717 Call to check price and availability
    Request Owner's contact information
    4700 N University St Peoria, IL 61614
    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.
    4700 N University St
    Peoria, IL 61614
    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
    4700 N University St Peoria, IL 61614
    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

    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Will Hayes
    Will Hayes
    (309) 643-0717 (309) 691-5919
    Learn more
    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!