Property profile

3131 Prospect Rd Peoria, IL 61603

OFF-MARKET
Retail properties & Spaces
7,831 SF
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Property summary

AI-generated overview

This exceptional commercial property at 3131 N Prospect Road in Peoria, Illinois, offers a versatile space ideal for a variety of businesses. The property consists of a single-tenant building encompassing 7,831 square feet, currently featuring 2,960 square feet of vacant space available for lease at a monthly rate of $1200. The building is situated on a commercially zoned lot (APN 14-27-383-026) and is categorized as Land, Office, and Retail. The existing tenant is responsible for one-third of snow removal and shared lighting costs. This presents a unique opportunity for businesses seeking a well-located Peoria space. An additional 1,840 square feet of contiguous space is available at 3129 N Prospect Road, offering the potential for expansion with interconnecting doors. The property's single-suite layout provides a streamlined and efficient workspace. The convenient location in Peoria, IL, zip code 61603, offers excellent accessibility and visibility. This property is perfect for businesses seeking a flexible and well-maintained space in a thriving commercial area. Serious inquiries are encouraged to explore this promising opportunity.

Property profile

Verified
Property type Retail properties & Spaces
Total area 7,831 SF

Cap rate & NOI

Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors

Location

3131 Prospect Rd Peoria, IL 61603
Peoria metro
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Value estimations

Realmo proprietary · 4 methods
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Owner & transaction history

Comparables

6 recent transactions · within 1.5 mi
Comparable in this city
6 recent transactions
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
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