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    401 Water St Peoria, IL 61602

    Sponsored
    For Lease
    $19 SF/Yr ($10,024 /Mo)

    8-Story Building, 6,091 SF Available

    Lot size:
    6,091 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional eight-story commercial building, located at 401 Southwest Water Street in Peoria, Illinois, offers a unique opportunity for businesses seeking prime riverfront office space. The property boasts a total of 6,091 square feet, currently entirely vacant and available for lease. Multiple tenancy options are available, with spaces ranging from a minimum of 620 square feet to a maximum contiguous space of 3,086 square feet. The building's diverse subtypes cater to a variety of business needs, including executive, traditional, and creative office spaces, as well as retail and restaurant possibilities. Conveniently located in Peoria County (zip code 61602), this property benefits from its vibrant riverfront location, surrounded by a self-contained community featuring unique restaurants, art galleries, retail and antique shops, a riverboat, farmer's market, and parks. The building includes elevators for easy access to all eight floors. This is an ideal location for businesses seeking high visibility and a dynamic, amenity-rich environment in the heart of Peoria's outdoor riverfront activities and festivities. The property is perfect for businesses seeking a prominent location within a thriving community. Contact us today to learn more about leasing opportunities.

    Property Features for 401 Water St

    General Information

    Property type
    Restaurants
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    6,091 SF
    Total Rate
    10024.77

    Building Details

    Stories
    8

    Unit(s) available at that property

    Space
    Suite 405
    Size
    2,200 SF
    Rate per SF
    $19
    Space
    Suite 205
    Size
    1,800 SF
    Rate per SF
    $19
    Space
    Suite 101
    Size
    5,700 SF
    Rate per SF
    $19
    Space
    Suite 209
    Size
    4,235 SF
    Rate per SF
    $19
    Space
    Suite 509
    Size
    2,000 SF
    Rate per SF
    $19
    Space
    Suite 505
    Size
    1,335 SF
    Rate per SF
    $19
    Space
    5th Floor Suite 505
    Size
    1,335 SF
    Rate per SF
    $19

    HighLights

    • Dedicated parking deck with express entry.
    • Secure building and condo access via proximity card.
    • High‑speed internet access provided on‑site.
    • Fiber optic cabling infrastructure.
    • On‑site ATM.
    • Vending machines offering beverages and snacks.
    Property Profile Location Intelligence

    Current Use by Public Records

    Accenture Business Management Consultant Hard Money Lenders ... Mortgage Lender Dr. Mary T. ... Radiologist Jason Stringer, D.O. Emergency Care Physician FedEx Drop Box Mailing Service

    Suggested Use

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

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

    Location Insight

    • Map
    • Local Demand
    City
    Peoria
    County
    Peoria
    State
    Illinois
    Longitude
    -89.5920838
    Latitude
    40.6875266

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    FAQs

    What type of property is this?
    Restaurant - 8-Story Building, 6,091 SF Available
    Where is this restaurant located?
    The property is located at 401 Water St Peoria, IL.
    What is the lease rate?
    The lease rate is $19 SF/Yr.
    What are key features of this property?
    This property features: Dedicated parking deck with express entry.; Secure building and condo access via proximity card.; High-speed internet access provided on-site.
    Request Owner's contact information
    401 Water St Peoria, IL 61602
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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
    401 Water St Peoria, IL 61602
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