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    7528 Grand Prairie Dr Peoria, IL 61615

    Sponsored
    For Sale
    $2,400,000

    High-yield, fully leased retail property

    Property size:
    4,500 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional investment opportunity presents a newly constructed, 4,500 square foot Class A retail building in Peoria, Illinois, situated on a 0.6-acre lot with 32 parking spaces. The property boasts two 10-year triple-net (NNN) leases with national franchise tenants, commencing in July 2021 and December 2022, respectively, offering a remaining lease term of 8.1 years. The building, constructed in 2021, features 4,383 square feet of net rentable space, currently operating at 100% occupancy. The asking price is $2,400,000, representing a compelling $533.33 per square foot and a 5.80% capitalization rate, with a current Net Operating Income (NOI) of $145,278. Located at 7528 North Grand Prairie Drive, 61615, this property benefits from a prime location within The Shoppes at Grand Prairie, a thriving mixed-use development anchored by major national retailers and situated near significant medical facilities and the Louisville Slugger Sports Complex. The property enjoys high visibility from North Grand Prairie Drive and War Memorial Drive (Hwy 150), offering excellent access and ample parking. Rent bumps are included in the lease agreements, and the property is zoned for commercial use. This sale-leaseback opportunity provides a strong, stable income stream with minimal management requirements, as tenants are responsible for all utilities. The property is part of a large trade area encompassing 30 counties and a population of 1.7 million people. Two lease options are available.

    Property Features for 7528 Grand Prairie Dr

    General Information

    Property type
    Restaurants
    Square Feet
    4,500 SF
    Class
    A
    Lot Size
    26,136 SF

    Building Details

    Year Built
    2021
    Buildings
    1
    Stories
    1
    Units
    2

    HighLights

    • Newly constructed 4,500 SF Class A retail building in Peoria, IL.
    • Two 10‑year NNN leases with national tenants, 8.1 years remaining lease term.
    • 100% occupancy, generating $145,278 NOI and a 5.80% cap rate.
    • Asking price: $2,400,000 ($533.33/SF).
    • Prime location in The Shoppes at Grand Prairie, with high visibility and ample parking.
    Property Profile Location Intelligence

    Current Use by Public Records

    Nothing Bundt Cakes Bakery Pancheros Mexican Grill ... Mexican Restaurant

    Suggested Use

    Restaurant Realty agency Building Supply Dental Office Spa & Massage Wholesale Shop Hair Salon Gym & Fitness Nail Salon Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.675519094372
    Latitude
    40.779752869839

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    FAQs

    What type of property is this?
    Restaurant - High-yield, fully leased retail property
    Where is this restaurant located?
    The property is located at 7528 Grand Prairie Dr Peoria, IL.
    What is the asking price?
    The asking price for this property is $2,400,000.
    What are key features of this property?
    This property features: Newly constructed 4,500 SF Class A retail building in Peoria, IL.; Two 10-year NNN leases with national tenants, 8.1 years remaining lease term.; 100% occupancy, generating $145,278 NOI and a 5.80% cap rate.
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    Realmo Value Estimation

    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.

    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.

    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
    7528 Grand Prairie Dr Peoria, IL 61615
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