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    Cherry Tree Shopping Ctr Washington, IL 61571

    Sponsored
    For Lease
    $8 SF/Yr

    High-traffic retail space, multiple suites available.

    Lot size:
    100,675 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional retail opportunity is located at the Cherry Tree Shopping Center in Washington, Illinois, a bustling center conveniently situated just off Route 150 on Washington Road (Route 24). The property boasts a total of 100,675 square feet, with 19,385 square feet currently vacant and available for lease. Two contiguous spaces are available, ranging from 4,835 to a maximum of 12,600 square feet, providing flexibility for various retail concepts. The center enjoys a strong tenant mix, including established businesses such as RP Home & Harvest, Kroger, a fitness center, and several restaurants, ensuring high foot traffic and visibility. The strategic location benefits from proximity to other key businesses, including Super 8 by Wyndham, Heartland Bank, IVP Plastics, and Goodwill, further enhancing the area's commercial appeal. This prime retail space presents a unique opportunity to establish or expand your business within a thriving commercial environment in Tazewell County, Illinois, zip code 61571. The property is situated at 40.7061048 latitude and -89.4471763 longitude. Don't miss this chance to secure your place in this successful shopping center.

    Property Features for 0 Cherry Tree Shopping Ctr

    General Information

    Property type
    Retail properties
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    100,675 SF
    Total Rate
    67116.67

    Unit(s) available at that property

    Space
    Suite D-4B
    Size
    12,600 SF
    Rate per SF
    $8
    Space
    Suite D-1
    Size
    4,835 SF
    Rate per SF
    $12

    HighLights

    • Suite D‑1: 4,835 SF, $12/SF NNN.
    • Suite D‑4b: 12,600 SF, $8/SF NNN.
    • All suites offer storefront access.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Map

    City
    Washington
    County
    Tazewell
    State
    Illinois
    Longitude
    -89.4471763
    Latitude
    40.7061048

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    Nearby Similar for Lease

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      Retail Suites in Cherry Tree Center

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      View Details

    FAQs

    What type of property is this?
    Retail property - High-traffic retail space, multiple suites available.
    Where is this retail property located?
    The property is located at Cherry Tree Shopping Ctr Washington, IL.
    What is the lease rate?
    The lease rate is $8-$12 SF/Yr.
    What are key features of this property?
    This property features: Suite D-1: 4,835 SF, $12/SF NNN.; Suite D-4b: 12,600 SF, $8/SF NNN.; All suites offer storefront access.
    Request Owner's contact information
    Cherry Tree Shopping Ctr Washington, IL 61571
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    Washington, IL 61571
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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
    Cherry Tree Shopping Ctr Washington, IL 61571
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