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    421 Moneta Ave Peoria Heights, IL 61616

    Sponsored
    For Sale
    $1,390,000

    Self-storage & commercial space, high growth potential

    Property size:
    25,350 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    394
    This Peoria Heights, IL property offers a unique investment opportunity. The 1.27-acre lot houses a 25,350 sq ft facility, including 89 self-storage units and 6 additional rentable spaces for warehouse or commercial use. Features include a 65' x 50' two-story warehouse, a 5,500 sq ft building with three contractor bays, a 1,600 sq ft second-floor storage unit, and two offices with a full kitchen and bathroom. The property boasts a pro-forma NOI of $122,272, with current NOI at $86,479 and a 65% occupancy rate. Recent renovations (2024) have upgraded the facility, which sits in a favorable supply market with several new developments within a 5-mile radius. The property's industrial zoning allows for expansion opportunities, with potential for outdoor leasing or construction of new units, and several contiguous properties available for acquisition. The asking price is $1,390,000 ($54/sq ft, $14,631/unit). The 2-story building is situated at 421 E Moneta Avenue, Peoria Heights, IL 61616. The property's high vacancy rate is due to recent fire damage that has since been fully repaired and renovated. This presents a strong opportunity for a new owner to increase occupancy and maximize revenue.

    Property Features for 421 Moneta Ave

    General Information

    Property type
    Distribution properties
    Square Feet
    25,350 SF
    Lot Size
    55,321 SF

    Building Details

    Year Renovated
    2024
    Stories
    2
    Units
    95

    HighLights

    • $1,390,000 asking price for this Peoria Heights, IL commercial property.
    • 25,350 square feet total building area, with 23,200 square feet net rentable.
    • $54 per square foot price.
    • 65% occupancy, generating $86,479 NOI, with a pro‑forma NOI of $122,272 at full occupancy.
    • 95 total units, including 89 self‑storage units and 6 additional warehouse/commercial spaces.
    • Recently renovated in 2024, this two‑story building sits on a 1.27‑acre lot.
    Property Profile Location Intelligence

    Current Use by Public Records

    Distribution centers

    Suggested Use

    Law Firm Realty agency Restaurant Dental Office Spa & Massage Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria Heights
    County
    Peoria
    State
    Illinois
    Longitude
    -89.5875114
    Latitude
    40.741398

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    FAQs

    What type of property is this?
    Distribution property - Self-storage & commercial space, high growth potential
    Where is this distribution property located?
    The property is located at 421 Moneta Ave Peoria Heights, IL.
    What is the asking price?
    The asking price for this property is $1,390,000.
    What are key features of this property?
    This property features: $1,390,000 asking price for this Peoria Heights, IL commercial property.; 25,350 square feet total building area, with 23,200 square feet net rentable.; $54 per square foot price.
    Request Owner's contact information
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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
    421 Moneta Ave Peoria Heights, IL 61616
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