Office Building with Oversized
7319 N University Street Peoria Peoria, IL 61614
New
7319 N University Street Peoria, Peoria, IL, 61614
$417,000
For Sale
$417,000
Office building with large windows, updated HVAC and metal roof, two ADA restrooms, and an oversized parking lot.
Property Size2,610 SF
Price / SF$159.77
Days on Market6
Property Features for 7319 N University Street Peoria
General Information
- Standard status
- Active
- Size
- 2,610 SF
Listing Agency
(309) 722-1612
Listed by
Barb Primm
(309) 722-1612
Source
Realestatepeoria
Added: Jul 13 Checked: Jul 14 at 2:55 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 Barb Primm
Investment Insights
Based on property information with market context.
This office building offers a bright interior with large windows and a range of improvements completed in 2022. Updates include a new metal roof, HVAC system, paint, flooring, and two ADA-accessible restrooms. The property also includes a basement dewatering system.
The building is positioned for visibility in a high-traffic setting and features an oversized parking lot designed to accommodate customers, clients, or employees.
With the 2022 updates and existing office-ready configuration, the property presents a straightforward option for an owner seeking a maintained office facility with dedicated parking.
The building is positioned for visibility in a high-traffic setting and features an oversized parking lot designed to accommodate customers, clients, or employees.
With the 2022 updates and existing office-ready configuration, the property presents a straightforward option for an owner seeking a maintained office facility with dedicated parking.
Key Highlights
- Numerous 2022 updates: new metal roof, HVAC system, paint, and flooring
- Office building with large windows for natural light throughout the space
- Includes two ADA‑accessible restrooms
Local Financial Insights For Office B
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 | $54.8k | $21.00 |
| − Vacancy | −$9.9k | −$3.78 |
| EGI | $44.9k | $17.22 |
| − OpEx | −$11.2k | −$4.31 |
| NOI | $33.7k | $12.92 |
2,610 SF · lease $21.00/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$481.5K
$421.4K – $561.8K
NOI $33,708 @ 7.0% cap · market cap 8.08%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$2.28M
$2.00M – $2.66M
NOI $159,824 @ 7.0% cap · market cap 38.33%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
211 HOI
Association / Organization
Similar For Sale Nearby
FAQs
What type of property is this?
Office building - Office building with large windows, updated HVAC and metal roof, two ADA restrooms, and an oversized parking lot.
Where is this office building located?
The property is located at 7319 N University Street Peoria Peoria, IL.
What is the asking price?
The asking price for this property is $417,000.
What are key features of this property?
This property features: Numerous 2022 updates: new metal roof, HVAC system, paint, and flooring; Office building with large windows for natural light throughout the space; Includes two ADA‑accessible restrooms
