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    408 Washington St Peoria, IL 61602

    Sponsored
    For Lease
    Contact for pricing

    Prime Peoria Office Space: 21,400 SF Available

    Lot size:
    21,400 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    The Larkin Building, located at 408 SW Washington St in Peoria, IL 61602, presents a unique opportunity for businesses seeking executive office space. This four-story building offers a total of 21,400 square feet of commercial space, currently entirely vacant and ready for immediate occupancy. The property is classified as both retail and office, making it suitable for a variety of uses. The building boasts ample parking, a significant advantage in a busy urban setting. The entire 21,400 square feet is available for lease as a single, large space, providing flexibility for a substantial tenant or the potential for division into smaller suites. Situated in Peoria County, Illinois, this property benefits from excellent visibility and accessibility. The building's location at 408 SW Washington St places it within easy reach of Peoria's central business district, offering convenient access to amenities, transportation, and a thriving workforce. This is an exceptional opportunity to secure a substantial, well-located commercial property in a desirable market. The property's size and layout offer significant potential for customization to meet the specific needs of a discerning tenant. With ample parking and a prime location, the Larkin Building is poised to become a successful hub for any business.

    Property Features for 408 Washington St

    General Information

    Property type
    Office Properties & Spaces
    Lease Type
    Gross Lease
    RSF (Rentable sq. ft)
    21,400 SF

    Building Details

    Stories
    4

    Unit(s) available at that property

    Space
    Available Space
    Size
    21,400 SF

    HighLights

    • 4‑story building with approximately 5,350 square feet per floor.
    • Frank Lloyd Wright‑inspired design, four‑story limestone structure.
    • Building will be redeveloped to suit tenant needs.
    • Ample parking available.
    • Conveniently located near restaurants and retail on the riverfront.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    -89.5924782
    Latitude
    40.6879251

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    FAQs

    What type of property is this?
    Office Property / Space - Prime Peoria Office Space: 21,400 SF Available
    Where is this office property / space located?
    The property is located at 408 Washington St Peoria, IL.
    What are key features of this property?
    This property features: 4-story building with approximately 5,350 square feet per floor.; Frank Lloyd Wright-inspired design, four-story limestone structure.; Building will be redeveloped to suit tenant needs.
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    408 Washington 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
    408 Washington St Peoria, IL 61602
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