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    3605 Parish Ave Peoria, IL 61604

    Sponsored
    For Sale
    $2,850,000

    Red Bull-Leased Warehouse, High NOI

    Property size:
    23,454 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    393
    This exceptional investment opportunity presents a fully leased, 23,454 square foot industrial distribution/flex building in Peoria, Illinois. The property, located at 3605 N Parish Avenue, boasts a strong Net Operating Income (NOI) of $156,876, resulting from a 100% occupancy rate under a triple net (NNN) lease with Red Bull. The lease is a five-year term with two five-year renewal options, providing long-term stability and minimal landlord responsibilities. The building features two loading docks, two overhead doors, and ample concrete parking. Situated on a 3.05-acre lot, the property also includes adjacent land zoned for potential future development, offering significant upside for the savvy investor. The strategic location along War Memorial Drive (US Rt. 150) provides easy access to I-74, serving a substantial population within a three-mile radius with a high average household income. The asking price is $2,850,000, representing a price per square foot of $121.51. This is a rare opportunity to acquire a high-performing, net-leased industrial property with significant growth potential.

    Property Features for 3605 Parish Ave

    General Information

    Property type
    Distribution properties
    Square Feet
    23,454 SF
    Lot Size
    132,858 SF

    HighLights

    • 18,896 SF warehouse space
    • 4,568 SF office/showroom with mezzanine
    • 600‑amp, 3‑phase power
    • Two docks with two overhead doors
    • Concrete parking lot
    • War Memorial Drive frontage
    Property Profile Location Intelligence

    Current Use by Public Records

    Alliance Movers Peoria Mover

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.6099007
    Latitude
    40.7321243

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    FAQs

    What type of property is this?
    Distribution property - Red Bull-Leased Warehouse, High NOI
    Where is this distribution property located?
    The property is located at 3605 Parish Ave Peoria, IL.
    What is the asking price?
    The asking price for this property is $2,850,000.
    What are key features of this property?
    This property features: 18,896 SF warehouse space; 4,568 SF office/showroom with mezzanine; 600-amp, 3-phase power
    Request Owner's contact information
    3605 Parish Ave Peoria, IL 61604
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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
    3605 Parish Ave Peoria, IL 61604
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