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    North Peoria Mixed-Use Opportunity Title is generated by Realmo AI

    8001 N University, Peoria, IL 61615

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    37,750 SF mixed-use property in North Peoria for sale.

    Type:Office, Industrial, Restaurant
    Property size:
    37,750 SF
    Lot size:
    4.49 Acres
    Added:
    Aug 1, 2018
    Days on Market:
    2863
    Last Refresh:
    May 19 at 9:27 pm

    Property Features for 8001 N University

    General Information

    Standard status
    Active
    Size
    37,750 SF
    Lot size
    4.49 Acres
    Property subtype
    Office, Industrial, Restaurant

    Building Details

    Year Built
    1964

    Spaces For Lease

    at 8001 N University Contact us

    We can help!

    Listing Contact
    Will Hayes
    Will Hayes

    Listing agent Will Hayes License #IL 475.122056

    Listing office Joseph & Camper Commercial

    Listing date Aug 1, 2018

    Source Crexi

    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

    HighLights

    • Large 37,750 sf office/retail/warehouse space suitable for owner/user or investment.
    • Main level features 33,750 sf divided into four units, offering diverse usage possibilities.
    • Significant vacant space available: 4,501 SF on main level and 4,207 SF on the elevator‑served 2nd level.
    • Property includes 4.49 acres with abundant surface parking.
    • Flexible space with tall ceilings allowing for office to warehouse conversion.
    • Existing tenants provide immediate income potential; Unit 1A & 1B tenant may stay, and Batteries & Bulbs occupies Unit 1D through September 2030.

    Overview

    This 37,750 square foot mixed-use property is available for sale in North Peoria. The main level comprises 33,750 square feet and is currently configured as four units. Units 1A and 1B are temporarily occupied but can be made available to an owner/user with 180 days' notice to the tenant. These units are primarily office space with some warehouse area in the rear, including one 10 x 12 overhead door. Unit 1D is occupied by Batteries & Bulbs through September 30, 2030. The property is situated on 4.49 acres and features abundant surface parking. Vacant areas include 4,501 square feet available for lease on the main level and an additional 4,207 square feet on the second level, which is elevator-served. A sprinkler system is in place. The tall ceilings allow for a conversion from office to warehouse space if needed. The tenant in Units 1A and 1B would consider remaining if a buyer desired. Financial information is available upon request to qualified buyers with a signed NDA.
    Property Profile Location Intelligence

    Current Use by Public Records

    Chinmaya Mission Peoria Religious School We Fix It ... Computer & Electronic Repair Batteries Plus Auto Parts Store ARi Global Solutions (Bike/Boat/Book/etc) Store FedEx Drop Box Postal Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.6223827
    Latitude
    40.7851629

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    FAQs

    What type of property is this?
    Mixed-use property - 37,750 SF mixed-use property in North Peoria for sale.
    Where is this mixed-use property located?
    The property is located at 8001 N University Peoria, IL.
    What is the lease rate?
    The lease rate is $9 SF/Yr.
    What are key features of this property?
    This property features: Large 37,750 sf office/retail/warehouse space suitable for owner/user or investment.; Main level features 33,750 sf divided into four units, offering diverse usage possibilities.; Significant vacant space available: **4,501 SF on main level and 4,207 SF on the elevator‑served 2nd level.**
    (309) 643-0717 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Will Hayes
    Will Hayes
    Real Estate License ID: IL 475.122056
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    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
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