Automotive Retail
For Sale
Contact for pricing
8412 N KNOXVILLE AVE, Peoria, IL 61615
Occupied automotive parts store at a signalized commercial intersection with established tenant operations.
Property Size6,889 SF
Price / SF$239.51
Days on Market8
Property Features for 8412 N KNOXVILLE AVE
General Information
Standard status
Active
Size
6,889 SF
Property subtype
Retail
Zoning
C1- General Commercial
Occupancy
100%
Lease Type
NN
Net Operating Income
$115,000
Site & Location
Corner Location
Yes
Traffic Count
20,400 vehicles/day
Road Access
Yes
Building Details
Year Built
2016
Buildings
1
Units
1
Tenancy
Single
Listing Agency:
Ripco Real Estate
(727) 452-6864
Listed By:
Ari Ravi · License #SL- 3210827
Source:
Crexi
Added: Aug 5
Changed: Aug 9
Last Checked: Aug 11 at 9:18AM
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 Ripco Real Estate
Investment Insights
Based on property information with market context.
This 6,889 SF commercial building at 8412 N Knoxville Ave is occupied by Advance Auto Parts and has operated as an automotive retail location since 2016. The property is leased on an NN basis, with five years remaining on the current term. Its C1- General Commercial zoning supports the existing commercial use.
The building sits on the northeast corner of Knoxville Ave and W Altorfer Lane in Peoria, Illinois. Knoxville Ave is identified as a primary north-south arterial, with an AADT of 20,400 at this location. The surrounding area includes a population of 32,421 within three miles, providing an established customer base for the current automotive retail operation.
The building sits on the northeast corner of Knoxville Ave and W Altorfer Lane in Peoria, Illinois. Knoxville Ave is identified as a primary north-south arterial, with an AADT of 20,400 at this location. The surrounding area includes a population of 32,421 within three miles, providing an established customer base for the current automotive retail operation.
Key Highlights
- 6,889 SF commercial building occupied by Advance Auto Parts
- NN lease structure with five years remaining on the current term
- Built in 2016 and operated as an automotive retail location since 2016
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$82,461
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.00%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,649,220
$1.6M
Cap Rate 7%
$1,178,014
$1.2M
Cap Rate 9%
$916,233
$916.2K
Market Conditions
NOI Build-Up for 6,889 SF
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.
Gross rent
$124.0K $18.00/SF
− Vacancy
−$6.2K −$0.90/SF
EGI
$117.8K $17.10/SF
− OpEx
−$35.3K −$5.13/SF
NOI
$82.5K $11.97/SF
Area
Peoria, IL
Vacancy
5.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,649,220
Cap Rate 7%
$1,178,014
Cap Rate 9%
$916,233
Alternative Uses
Best Use
Retail
$1.18M
$1.03M – $1.37M
NOI $82,461 @ 7.0% cap · market cap 5.00%
Second Best
Industrial
$592.1K
$518.1K – $690.8K
NOI $41,448 @ 7.0% cap · market cap 2.51%
Theoretical Best
Multifamily LT 5
$6.03M
$5.27M – $7.03M
NOI $421,850 @ 7.0% cap · market cap 25.57%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
20,400 VPD
Traffic count
100%
Occupancy
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
560
Businesses Nearby
3k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Dining 100%
Sweet Cece's
Dining
2,537 visits/mo
0.5 miles
Demographics for 61615, IL
24,314
Population
11,334
Households
2.1
Avg Household Size
38
Median Age
53%
College-Educated
98%
High-School Grad
29.6 sq mi
ZIP Area
821
Density / Sq Mi
$82,157
Median Household Income
$50,165
Median Earnings
$1,079
Median Rent
$206,800
Median Home Value
Market
Vacancy Rate% for Retail in Midwest region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
NNN property - Occupied automotive parts store at a signalized commercial intersection with established tenant operations.
Where is this nnn property located?
The property is located at 8412 N KNOXVILLE AVE Peoria, IL.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 6,889 SF commercial building occupied by Advance Auto Parts; NN lease structure with five years remaining on the current term; Built in 2016 and operated as an automotive retail location since 2016
