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    8001 University St Peoria, IL 61615

    Sponsored
    For Sale
    $1,900,000

    37,750 SF Flex Space, High ROI Potential

    Property size:
    37,750 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    This exceptional mixed-use property, located at 8001 N University St in Peoria, IL, presents a compelling value-add investment opportunity. The 37,750 square foot building, constructed in 1964, sits on a generous 4.49-acre lot and features a blend of office, retail, and warehouse space. Currently configured with multiple units, the main level (29,902 SF) houses several tenants, including ARI (through November 30, 2024) and Batteries & Bulbs (through September 30, 2024). Unit 1A and a portion of Unit 1B are primarily office space with some rear warehouse space including a 10x12 overhead door. An additional 4,501 square feet on the main level and 4,207 square feet of finished office space on the second level are available for lease. The second floor is conveniently served by an elevator. The property boasts 203 surface parking spaces and one loading dock. The building is equipped with a sprinkler system and is zoned C-2. Financial details are available upon request to qualified buyers with a signed NDA. This property offers significant upside potential, enhanced by its location and the possibility of leveraging Enterprise Zone Incentives. Asking price is $1,900,000 ($50.33/SF). The property is a two-story Class B building with a Net Net Net (NNN) lease structure.

    Property Features for 8001 University St

    General Information

    Property type
    Individual retail properties
    Square Feet
    37,750 SF
    Class
    B
    Lot Size
    195,584 SF

    Building Details

    Year Built
    1964
    Stories
    2

    HighLights

    • $1,900,000 asking price for a 37,750 square foot mixed‑use property in Peoria, IL.
    • Class B, multi‑tenant building with flex, storefront, and traditional office space.
    • Located on a 4.49‑acre lot with 203 parking spaces and one loading dock.
    • Features 29,902 square feet on the main level currently divided into four units, with some existing leases.
    • Includes 4,501 square feet of leasable space on the main level and an additional 4,207 square feet of built‑out office space on the second level, accessible by elevator.
    • Built in 1964, with a C‑2 zoning designation.
    Property Profile Location Intelligence

    Current Use by Public Records

    Chinmaya Mission Peoria Religious School We Fix It ... Mobile Phone Repair Shop Batteries Plus Car Battery Store ARi Global Solutions Software Company FedEx Drop Box Mailing Service

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Dental Office Wholesale Shop Hair Salon Auto Repair Shop Clothing Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.621912722809
    Latitude
    40.784494783489

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    FAQs

    What type of property is this?
    Individual retail property - 37,750 SF Flex Space, High ROI Potential
    Where is this individual retail property located?
    The property is located at 8001 University St Peoria, IL.
    What is the asking price?
    The asking price for this property is $1,900,000.
    What are key features of this property?
    This property features: $1,900,000 asking price for a 37,750 square foot mixed-use property in Peoria, IL.; Class B, multi-tenant building with flex, storefront, and traditional office space.; Located on a 4.49-acre lot with 203 parking spaces and one loading dock.
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    8001 University St Peoria, IL 61615
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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
    8001 University St Peoria, IL 61615
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