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Property profile & analytics

406 Elm St Peoria, IL 61605-3913

  • Commercial real estate
OFF-MARKET
Last Sale
Mar 14, 2022
$2,500,000
Value Estimations
$2,410,000
Show details
Cap Rate Potential
Location Intelligence
Property ID
US28-2000145
The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

Current Use by Public Records

  • Career Link / Employment Center / Non-Profit Organization
  • Illinois Department Of Employment Security / Employment Agency / Unemployment Office
  • Veterans Employment Rep / Employment Center
  • Job Corps / Technical School

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.


Value Estimations

based on Realmo’s proprietary methodology
  • AI approach

    Method
    Estimation
    Statistic approach
    $2,410,000

Get a detailed, property-specific valuation — fast and free


Location Insight

  • Map
  • Local Demand
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

Tax date
Tax Amount
Assessed Land Value
Assessed Improvement Value
Total Assessed Value
Applied Tax Rate
Land Market Value
Improvement Market Value
Total Market Value
2023
$62,976
$144,220
$525,120
$669,340
-
$432,660
$1,575,360
$2,008,020
More about this property
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