Multifamily
For Sale
Contact for pricing
Pending
805 Ne Madison Ave, Peoria, IL 61603
This multifamily property was constructed in 1900.
Property Size932 SF
Days on Market203
Property Features for 805 Ne Madison Ave
General Information
Standard status
Pending
Size
932 SF
Property subtype
Multi-Family
Building Details
Year Built
1900
Listing Agency:
Adam Merrick Real Estate
Listed By:
Adam Merrick (homes@adammerrick.com)
Source:
Searchillinoishomesforsale
Added: Mar 29
Changed: Oct 1
Last Checked: Oct 16 at 9:28AM
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 Adam Merrick Real Estate
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Investment Insights
Based on property information with market context.
This multifamily property dates to 1900 and has a reported property size of 932. The asset is located at 805 NE Madison Ave in Peoria, Illinois, within ZIP code 61603.
Key Highlights
- Multifamily property constructed in 1900
- Reported property size of 932
- Located at 805 NE Madison Ave, Peoria, IL 61603
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$50,272
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,005,440
$1.0M
Cap Rate 7%
$718,171
$718.2K
Cap Rate 9%
$558,578
$558.6K
Market Conditions
NOI Build-Up for 932 SF
Gross rent
$95.5K $102.48/SF
− Vacancy
−$4.1K −$4.41/SF
EGI
$91.4K $98.07/SF
− OpEx
−$41.1K −$44.13/SF
NOI
$50.3K $53.94/SF
Area
Peoria, IL
Vacancy
4.30%
Lease Rate
$102.48 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,005,440
Cap Rate 7%
$718,171
Cap Rate 9%
$558,578
Alternative Uses
Best Use
Apartment 5plus
$718.2K
$628.4K – $837.9K
NOI $50,272 @ 7.0% cap · market cap 168.13%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$815.3K
$713.4K – $951.2K
NOI $57,071 @ 7.0% cap · market cap 190.87%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Location Intelligence
Trade Area within ½ mile
2,569
Businesses Nearby
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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
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Midwest region
Frequently Asked Questions
What type of property is this?
Multifamily property - This multifamily property was constructed in 1900.
Where is this multifamily property located?
The property is located at 805 Ne Madison Ave Peoria, IL.
What are key features of this property?
This property features: Multifamily property constructed in 1900; Reported property size of 932; Located at 805 NE Madison Ave, Peoria, IL 61603
