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    Peoria Office Building with UPS Title is generated by Realmo AI

    8116 N Hale Ave, Peoria, IL

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    28,800 SF office building with generator and parking.

    Type:OFFICE
    Property size:
    28,800 SF
    Lot size:
    4.53 Acres
    Price / SF:
    $88/SF
    Added:
    Apr 16, 2025
    Days on Market:
    417
    Last Refresh:
    May 20 at 9:23 pm

    Property Features for 8116 N Hale Ave

    General Information

    Standard status
    Active
    Size
    28,800 SF
    Lot size
    4.53 Acres
    Property subtype
    OFFICE

    We can help!

    Listing Contact
    Dan Maloof
    Dan Maloof

    Listing agent Dan Maloof

    Listing office Maloof Commercial

    Listing date Apr 16, 2025

    Source Moodyscre

    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

    HighLights

    • Full facility 400KW CAT generator & 400Amp main disconnect for uninterrupted power.
    • 90kVa Liebert UPS (uninterruptible power supply).
    • 28,800 sf office building on ±4 acres with parking for ±300 vehicles.
    • 25,200 sf main level w/ 9,400 sf call center style workspace and 5,300 sf flexible workspace.
    • Newly installed LED lighting inside and out & fiber optics.
    • Upgraded facility security camera system and access control system.

    Overview

    This 28,800 square foot office building is situated on approximately 4 acres. The main level comprises 25,200 square feet, while the upper level offers 3,600 square feet. The property features a 90kVa Liebert UPS (uninterruptible power supply) and a full facility 400KW CAT generator with a 400Amp main disconnect. Newly installed LED lighting illuminates both the interior and exterior, and fiber optics are in place. A full facility water softener and an updated full facility access control system are included, along with an upgraded facility security camera system. A covered front patio is present, and parking is available for approximately 300 vehicles. The main level features a 9,400 square foot call center style workspace with power and data drops from the ceiling, a 5,300 square foot flexible workspace, and a large remodeled commercial employee kitchen. The upper level, accessible by elevator, contains 4 office/conference rooms, a hospitality station, a janitorial closet, and 2 full restrooms, as well as potential IDF (intermediate distribution frame) space. The large east conference room has a raised floor with embedded infrastructure.
    Property Profile Location Intelligence

    Current Use by Public Records

    Samaritan Ministries Charitable Organization

    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
    -89.6067
    Latitude
    40.7854

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    FAQs

    What type of property is this?
    Office building - 28,800 SF office building with generator and parking.
    Where is this office building located?
    The property is located at 8116 N Hale Ave Peoria, IL.
    What is the asking price?
    The asking price for this property is $2,534,400.
    What are key features of this property?
    This property features: Full facility 400KW CAT generator & 400Amp main disconnect for uninterrupted power.; 90kVa Liebert UPS (uninterruptible power supply).; 28,800 sf office building on ±4 acres with parking for ±300 vehicles.
    (309) 693-3000 Call to check price and availability
    We can help!
    Contact for Pricing
    Please call us for current price
    and status of this listing Dan Maloof
    Dan Maloof
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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.

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