Retail and Office Multi-Tenant
7700 North Grand Prairie Drive Peoria, IL 61615
7700 North Grand Prairie Drive, Peoria, IL, 61615
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For Sale
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Multi-tenant retail and office property with 14 units and a surface parking lot directly accessible to the buildings.
Property Size22,210 SF
Lot Size2.42 Acres
Price / SF$152.94
Days on Market141
Property Features for 7700 North Grand Prairie Drive
General Information
- Standard status
- Active
- Size
- 22,210 SF
- Lot size
- 2.42 Acres
- Property subtype
- Office, Retail
Building Details
- Year Built
- 2003
Listing agency
Maloof Commercial Real Estate
(309) 693-3000
Listed by
Daniel Maloof · License #IL 475122647
Source
Crexi
Added: Mar 4 Updated: Jul 23 at 5:17AM Checked: Jul 23 at 5:17AM
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 Maloof Commercial Real Estate
Investment Insights
Based on property information with market context.
Shoppes West at Grand Prairie is a multi-tenant retail and office property offering 14 units across 22,210 square feet on 2.42 acres. The asset is described as well-maintained and positioned as an outlot of The Shoppes at Grand Prairie, providing a large surface parking lot directly accessible to the units.
The property is located at 7700–7730 N. Grand Prairie Drive in Peoria, Illinois. Public remarks note convenient access to major roadways and proximity to national retailers, restaurants, and entertainment options, with adjacency to the Louisville Slugger Sports Complex.
As presented in the offering materials, the tenant mix includes both retail and office users within the same shopping center setting.
The property is located at 7700–7730 N. Grand Prairie Drive in Peoria, Illinois. Public remarks note convenient access to major roadways and proximity to national retailers, restaurants, and entertainment options, with adjacency to the Louisville Slugger Sports Complex.
As presented in the offering materials, the tenant mix includes both retail and office users within the same shopping center setting.
Key Highlights
- 22,210 SF multi‑tenant retail and office property built in 2003
- Comprises 14 units with a retail and office tenant mix
- Located on 2.42 acres and positioned as an outlot of The Shoppes at Grand Prairie
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 | $466.4k | $21.00 |
| − Vacancy | −$84.0k | −$3.78 |
| EGI | $382.5k | $17.22 |
| − OpEx | −$95.6k | −$4.31 |
| NOI | $286.8k | $12.92 |
22,210 SF · lease $21.00/SF/yr · vacancy 18.00% · expense 25.00%
Alternative Uses
Best Use
Office B
$4.10M
$3.59M – $4.78M
NOI $286,842 @ 7.0% cap · market cap 8.44%
Second Best
Retail
$3.80M
$3.32M – $4.43M
NOI $265,854 @ 7.0% cap · market cap 7.83%
Theoretical Best
Multifamily LT 5
$19.43M
$17.00M – $22.67M
NOI $1,360,037 @ 7.0% cap · market cap 40.04%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
BeMobile Inc. - Verizon ...
Mobile Phone Store
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FAQs
What type of property is this?
NNN property - Multi-tenant retail and office property with 14 units and a surface parking lot directly accessible to the buildings.
Where is this nnn property located?
The property is located at 7700 North Grand Prairie Drive Peoria, IL.
What is the asking price?
The asking price for this property is $3,396,852.
What are key features of this property?
This property features: 22,210 SF multi‑tenant retail and office property built in 2003; Comprises 14 units with a retail and office tenant mix; Located on 2.42 acres and positioned as an outlot of The Shoppes at Grand Prairie
