406 Elm St Peoria, IL 61605-3913

Property Details for 406 Elm St

Property type

Commercial real estate

APN

18-09-160-027

APU

1809160027

Description

This exceptional investment opportunity presents a 22,620 square foot, Class B commercial office building located at 406 Elm St, Peoria, IL 61605. The property, built in 1998, is a single-tenant building currently 100% occupied by a long-term government tenant (State of Illinois) under a gross lease. The tenant has recently demonstrated strong financial stability and expressed a desire to maintain their long-term presence in the building. This presents a secure and stable income stream for the investor. The building boasts a desirable location, proximate to Dozer Park (Peoria Chiefs baseball stadium) and adjacent to a Caterpillar professional building, ensuring high visibility and accessibility. The property is zoned for commercial use and offers a compelling 8.25% cap rate on an asking price of $2,990,000. This is a rare opportunity to acquire a well-located, fully occupied, and financially sound commercial property in a thriving Illinois market. The masonry construction ensures durability and longevity. The single-unit structure simplifies management and maintenance, making this an attractive investment for both seasoned and new investors seeking a stable, high-return asset. This is a turnkey investment ready for immediate income generation.

Location Insight

City

Peoria

County

Peoria

State

Illinois

Longitude

-89.6004

Latitude

40.6873

CBSA code

37900

CBSA name

PEORIA, IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments